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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2015	Jul. 31, 2015
Document And Entitiy Information [Abstract]
Document Type	10-Q
Document period end date	Jun. 30, 2015
Amendment flag	false
Entity registrant name	REINSURANCE GROUP OF AMERICA INC
Entity central index key	0000898174
Entity current reporting status	Yes
Entity voluntary filers	No
Current fiscal year end date	--12-31
Entity filer category	Large Accelerated Filer
Entity well-known seasoned issuer	Yes
Common Shares Outstanding		66,467,879
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fixed maturity securities:
Available-for-sale at fair value (amortized cost of $26,305,332 and $23,105,597)	$ 28,063,975	$ 25,480,972
Mortgage loans on real estate (net of allowances of $5,942 and $6,471)	3,073,313	2,712,238
Policy loans	1,438,156	1,284,284
Funds withheld at interest	5,840,076	5,922,561
Short-term investments	76,118	97,694
Other invested assets	1,110,107	1,198,319
Total investments	39,601,745	36,696,068
Cash and cash equivalents	1,335,661	1,645,669
Accrued investment income	322,069	261,096
Premiums receivable and other reinsurance balances	1,518,208	1,527,729
Reinsurance ceded receivables	711,463	578,206
Deferred policy acquisition costs	3,299,541	3,342,575
Other assets	671,584	628,268
Total assets	47,460,271	44,679,611
Liabilities and Stockholders’ Equity
Future policy benefits	16,773,035	14,476,637
Interest-sensitive contract liabilities	13,516,059	12,591,497
Other policy claims and benefits	3,857,610	3,824,069
Other reinsurance balances	311,388	306,915
Deferred income taxes	2,246,086	2,365,817
Other liabilities	1,032,980	994,230
Long-term debt	2,313,470	2,314,293
Collateral finance and securitization notes	926,410	782,701
Total liabilities	40,977,038	37,656,159
Commitments and contingent liabilities (See Note 8)
Stockholders’ Equity:
Preferred stock - par value $.01 per share, 10,000,000 shares authorized, no shares issued or outstanding	0	0
Common stock - par value $.01 per share, 140,000,000 shares authorized, 79,137,758 shares issued at June 30, 2015 and December 31, 2014	791	791
Additional paid-in-capital	1,805,858	1,798,279
Retained earnings	4,425,302	4,239,647
Treasury stock, at cost - 12,716,098 and 10,364,797 shares	(898,082)	(672,394)
Accumulated other comprehensive income	1,149,364	1,657,129
Total stockholders’ equity	6,483,233	7,023,452
Total liabilities and stockholders’ equity	$ 47,460,271	$ 44,679,611

CONDENSED CONSOLIDATED BALANCE SHEETS PARENTHETICAL - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Available for Sale at Fair value - Amortized cost	$ 26,305,332	$ 23,105,597
Preferred stock par value (per share)	$ 0.01	$ 0.01
Preferred stock shares authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common stock par value (per share)	$ 0.01	$ 0.01
Common stock shares authorized	140,000,000	140,000,000
Common stock shares issued	79,137,758	79,137,758
Common stock shares outstanding	66,438,559	68,772,961
Treasury stock, shares	12,699,199	10,364,797
Allowances for Loan and Lease Losses, Real Estate	$ 5,942	$ 6,471

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues:
Net premiums	$ 2,129,043	$ 2,183,160	$ 4,152,895	$ 4,283,797
Investment income, net of related expenses	450,539	410,607	877,430	814,982
Investment related gains (losses), net:
Other-than-temporary impairments on fixed maturity securities	(4,137)	(870)	(6,664)	(1,173)
Other investment related gains (losses), net	(12,041)	119,397	(1,931)	204,271
Total investment related gains (losses), net	(16,178)	118,527	(8,595)	203,098
Other revenues	66,936	120,726	129,223	188,316
Total revenues	2,630,340	2,833,020	5,150,953	5,490,193
Benefits and Expenses:
Claims and other policy benefits	1,866,183	1,841,885	3,641,634	3,685,562
Interest credited	77,246	115,962	197,924	226,556
Policy acquisition costs and other insurance expenses	300,412	409,374	577,455	764,247
Other operating expenses	131,600	127,462	253,218	238,398
Interest expense	35,851	35,211	71,478	70,295
Collateral finance and securitization expense	5,258	2,591	11,329	5,160
Total benefits and expenses	2,416,550	2,532,485	4,753,038	4,990,218
Income before income taxes	213,790	300,535	397,915	499,975
Provision for income taxes	83,399	102,239	142,410	165,015
Net income	$ 130,391	$ 198,296	$ 255,505	$ 334,960
Earnings per share:
Basic earnings per share	$ 1.97	$ 2.87	$ 3.80	$ 4.80
Diluted earnings per share	1.94	2.84	3.76	4.75
Dividends declared per share	$ 0.33	$ 0.30	$ 0.66	$ 0.60

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Comprehensive income (loss)
Net income	$ 130,391	$ 198,296	$ 255,505	$ 334,960
Other comprehensive income (loss), net of tax:
Change in foreign currency translation adjustments	21,935	42,643	(95,836)	(40)
Change in net unrealized gains and losses on investments	(757,641)	304,997	(413,717)	620,381
Change in other-than-temporary impairment losses on fixed maturity securities	0	1,248	0	1,698
Changes in pension and other postretirement plan adjustments	834	273	1,788	1,014
Total other comprehensive income (loss), net of tax	(734,872)	349,161	(507,765)	623,053
Total comprehensive income (loss)	$ (604,481)	$ 547,457	$ (252,260)	$ 958,013

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash Flows from Operating Activities:
Net income	$ 255,505	$ 334,960
Change in operating assets and liabilities, net of acquisition:
Accrued investment income	(26,656)	(9,588)
Premiums receivable and other reinsurance balances	(19,683)	(104,002)
Deferred policy acquisition costs	5,136	165,257
Reinsurance ceded receivable balances	(115,355)	(27,310)
Future policy benefits, other policy claims and benefits, and other reinsurance balances	353,946	581,812
Deferred income taxes	77,047	111,735
Other assets and other liabilities, net	42,363	34,577
Amortization of net investment premiums, discounts and other	(39,021)	(51,521)
Investment related gains, net	8,595	(203,098)
Excess tax benefits from share-based payment arrangement	0	(1,268)
Other, net	63,815	76,256
Net cash provided by operating activities	605,692	907,810
Cash Flows from Investing Activities:
Sales of fixed maturity securities available-for-sale	2,742,814	2,756,942
Maturities of fixed maturity securities available-for-sale	232,712	239,279
Principal payments on mortgage loans on real estate	166,583	200,601
Principal payments on policy loans	441	46,747
Purchases of fixed maturity securities available-for-sale	(2,806,351)	(3,302,047)
Cash invested in mortgage loans on real estate	(531,317)	(266,002)
Cash invested in policy loans	(686)	(52,913)
Cash invested in funds withheld at interest	(57,708)	(39,856)
Payments to Acquire Businesses, Net of Cash Acquired	191,450	0
Payments to Acquire Property, Plant, and Equipment	(22,944)	(43,295)
Increase (Decrease) in Payables under Repurchase Agreements	(101,203)	0
Change in short-term investments	22,543	93,798
Change in other invested assets	73,529	271,373
Net cash used in investing activities	(473,037)	(95,373)
Cash Flows from Financing Activities:
Dividends to stockholders	(44,519)	(41,955)
Proceeds from (Repayments of) Secured Debt	(17,632)	0
Repayments of Short-term Debt	0	(110,000)
Proceeds from Issuance of Secured Debt	160,060	0
Payments of Debt Issuance Costs	(1,170)	0
Repayments of Long-term Debt	(1,178)	0
Purchases of treasury stock	(262,515)	(179,592)
Excess tax benefits from share-based payment arrangement	0	1,268
Exercise of stock options, net	12,641	9,578
Change in cash collateral for derivative positions and other arrangements	(31,244)	47,561
Deposits on universal life and other investment type policies and contracts	132,679	51,257
Withdrawals on universal life and other investment type policies and contracts	(363,600)	(374,567)
Net cash used in financing activities	(416,478)	(376,450)
Effect of exchange rate changes on cash	(26,185)	18,483
Change in cash and cash equivalents	(310,008)	454,470
Cash and cash equivalents, beginning of period	1,645,669	923,647
Cash and cash equivalents, end of period	1,335,661	1,378,117
Supplemental disclosures of cash flow information:
Interest Paid	74,637	67,258
Income Taxes Paid, Net	(19,307)	26,732
Transfer to Investments	118	1,580,080
Capital Expenditures Incurred but Not yet Paid	2,121	0
Noncash or Part Noncash Acquisition, Value of Assets Acquired	3,681,699	0
Noncash or Part Noncash Acquisition, Value of Liabilities Assumed	(3,490,249)	$ 0
Payments to Acquire Businesses, Gross	191,450
Cash Acquired from Acquisition	$ 19,377

Business and Basis of Presentation	6 Months Ended
Business and Basis of Presentation	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Business and Basis of Presentation Reinsurance Group of America, Incorporated (“RGA”) is an insurance holding company that was formed on December 31, 1992. The accompanying unaudited condensed consolidated financial statements of RGA and its subsidiaries (collectively, the “Company”) have been prepared in conformity with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these condensed consolidated financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments, including normal recurring adjustments necessary for a fair presentation have been included. Results for the six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015. There were no subsequent events that would require disclosure or adjustments to the accompanying condensed consolidated financial statements through the date the financial statements were issued. These unaudited condensed consolidated financial statements include the accounts of RGA and its subsidiaries, and all intercompany accounts and transactions have been eliminated. These condensed consolidated statements should be read in conjunction with the Company’s 2014 Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 2, 2015 (the "2014 Annual Report"). Effective January 1, 2015, the Company further refined its reporting of the Canada; Europe, Middle East and Africa; and Asia Pacific segments into traditional and non-traditional businesses to reflect the expanded product offerings within its geographic-based segments. The prior period presentation has been adjusted to conform to the new segment reporting structure. See Part II, Item 5 - Other Information of this report for comparable figures by quarter for 2014 and 2013.

Earnings Per Share

6 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share on net income (in thousands, except per share information):



	Three months ended June 30,				Six months ended June 30,
	2015		2014		2015		2014
Earnings:
Net income (numerator for basic and diluted calculations)	$	130,391	$	198,296	$	255,505	$	334,960
Shares:
Weighted average outstanding shares (denominator for basic calculation)	66,351		69,076		67,246		69,823
Equivalent shares from outstanding stock options	769		642		785		666
Denominator for diluted calculation	67,120		69,718		68,031		70,489
Earnings per share:
Basic	$	1.97	$	2.87	$	3.80	$	4.80
Diluted	$	1.94	$	2.84	$	3.76	$	4.75

The calculation of common equivalent shares does not include the impact of options having a strike or conversion price that exceeds the average stock price for the earnings period, as the result would be antidilutive. The calculation of common equivalent shares also excludes the impact of outstanding performance contingent shares, as the conditions necessary for their issuance have not been satisfied as of the end of the reporting period. For the three months ended June 30, 2015, no stock options and approximately 0.7 million performance contingent shares were excluded from the calculation. For the three months ended June 30, 2014, approximately 0.3 million stock options and approximately 0.8 million performance contingent shares were excluded from the calculation. Year-to-date amounts for equivalent shares from outstanding stock options and performance contingent shares are the weighted average of the individual quarterly amounts.

Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2015

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Accumulated Other Comprehensive Income

The balance of and changes in each component of accumulated other comprehensive income (loss) (“AOCI”) for the six months ended June 30, 2015 and 2014 are as follows (dollars in thousands):



	Accumulated Other Comprehensive Income (Loss), Net of Income Tax
	Accumulated Currency Translation Adjustments			Unrealized Appreciation (Depreciation) of Investments⁽¹⁾			Pension and Postretirement Benefits			Total
Balance, December 31, 2014	$	81,847		$	1,624,773		$	(49,491	)	$	1,657,129
Other comprehensive income (loss) before reclassifications	(89,220		)	(612,314		)	733			(700,801		)
Deferred income tax benefit (expense)	(6,616		)	204,252			(222		)	197,414
Other comprehensive income (loss) before reclassifications, net of income tax	(95,836		)	(408,062		)	511			(503,387		)
Amounts reclassified to (from) AOCI	—			(6,192		)	1,965			(4,227		)
Deferred income tax benefit (expense)	—			537			(688		)	(151		)
Amounts reclassified to (from) AOCI, net of income tax	—			(5,655		)	1,277			(4,378		)
Balance, June 30, 2015	$	(13,989	)	$	1,211,056		$	(47,703	)	$	1,149,364



	Accumulated Other Comprehensive Income (Loss), Net of Income Tax
	Accumulated Currency Translation Adjustments			Unrealized Appreciation (Depreciation) of Investments⁽¹⁾			Pension and Postretirement Benefits			Total
Balance, December 31, 2013	$	207,083		$	820,245		$	(21,721	)	$	1,005,607
Other comprehensive income (loss) before reclassifications	(9,162		)	949,650			(257		)	940,231
Deferred income tax benefit (expense)	9,122			(302,873		)	251			(293,500		)
Other comprehensive income (loss) before reclassifications, net of income tax	(40		)	646,777			(6		)	646,731
Amounts reclassified to (from) AOCI	—			(37,661		)	1,570			(36,091		)
Deferred income tax benefit (expense)	—			12,963			(550		)	12,413
Amounts reclassified to (from) AOCI, net of income tax	—			(24,698		)	1,020			(23,678		)
Balance, June 30, 2014	$	207,043		$	1,442,324		$	(20,707	)	$	1,628,660


(1)	Includes cash flow hedges. See Note 5 - “Derivative Instruments” for additional information on cash flow hedges.

The following table presents the amounts of AOCI reclassifications for the three and six months ended June 30, 2015 and 2014 (dollars in thousands):



	Amount Reclassified from AOCI
	Three months ended June 30,						Six months ended June 30,
Details about AOCI Components	2015			2014			2015			2014			Affected Line Item in Statement of Income
Unrealized gains and losses on available-for-sale securities	$	1,829		$	27,142		$	4,908		$	28,331		Investment related gains (losses), net
Gains and losses on cash flow hedges	543			321			603			539			Investment income
Gains and losses on cash flow hedges	1,495			—			655			—			Investment related gains (losses), net
Deferred policy acquisition costs attributed to unrealized gains and losses⁽¹⁾	(4,307		)	4,370			26			8,791
Total	(440		)	31,833			6,192			37,661
Provision for income taxes	(245		)	(11,059		)	(537		)	(12,963		)
Net unrealized gains (losses), net of tax	$	(685	)	$	20,774		$	5,655		$	24,698
Amortization of unrealized pension and postretirement benefits:
Prior service cost⁽²⁾	$	(80	)	$	(216	)	$	(163	)	$	(218	)
Actuarial gains/(losses)⁽²⁾	(1,098		)	(462		)	(1,802		)	(1,352		)
Total	(1,178		)	(678		)	(1,965		)	(1,570		)
Provision for income taxes	413			238			688			550
Amortization of unrealized pension and postretirement benefits, net of tax	$	(765	)	$	(440	)	$	(1,277	)	$	(1,020	)

Total reclassifications, net of tax	$	(1,450	)	$	20,334		$	4,378		$	23,678


(1)	This AOCI component is included in the computation of the deferred policy acquisition cost. See Note 8 – “Deferred Policy Acquisition Costs” of the 2014 Annual Report for additional details.


(2)	These AOCI components are included in the computation of the net periodic pension cost. See Note 10 – “Employee Benefit Plans” for additional details

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 45
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-Section 45
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-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.3-04)
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
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-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

+ Details

Investments

6 Months Ended

Jun. 30, 2015

Investments [Abstract]

Investments

Fixed Maturity and Equity Securities Available-for-Sale

The following tables provide information relating to investments in fixed maturity and equity securities by sector as of June 30, 2015 and December 31, 2014 (dollars in thousands):



June 30, 2015:	Amortized		Unrealized		Unrealized		Estimated Fair		% of		Other-than- temporary impairments
	Cost		Gains		Losses		Value		Total		in AOCI
Available-for-sale:
Corporate securities	$	16,000,887	$	730,409	$	241,890	$	16,489,406	58.8	%	$	—
Canadian and Canadian provincial governments	2,655,763		1,140,904		2,860		3,793,807		13.5		—
Residential mortgage-backed securities	1,154,732		47,241		11,094		1,190,879		4.2		(300		)
Asset-backed securities	1,051,093		19,915		8,384		1,062,624		3.8		354
Commercial mortgage-backed securities	1,471,419		63,699		9,649		1,525,469		5.4		(1,609		)
U.S. government and agencies	1,332,518		18,149		86,669		1,263,998		4.5		—
State and political subdivisions	478,262		38,891		10,981		506,172		1.8		—
Other foreign government, supranational and foreign government-sponsored enterprises	2,160,658		88,674		17,712		2,231,620		8.0		—
Total fixed maturity securities	$	26,305,332	$	2,147,882	$	389,239	$	28,063,975	100.0	%	$	(1,555	)
Non-redeemable preferred stock	$	91,717	$	2,477	$	3,620	$	90,574	70.9	%
Other equity securities	37,642		434		982		37,094		29.1
Total equity securities	$	129,359	$	2,911	$	4,602	$	127,668	100.0	%



December 31, 2014:	Amortized		Unrealized		Unrealized		Estimated Fair		% of		Other-than- temporary impairments
	Cost		Gains		Losses		Value		Total		in AOCI
Available-for-sale:
Corporate securities	$	14,010,604	$	965,523	$	90,544	$	14,885,583	58.4	%	$	—
Canadian and Canadian provincial governments	2,668,852		1,196,420		7		3,865,265		15.2		—
Residential mortgage-backed securities	991,867		52,640		6,611		1,037,896		4.1		(300		)
Asset-backed securities	1,059,660		20,301		10,375		1,069,586		4.2		354
Commercial mortgage-backed securities	1,453,657		87,593		8,659		1,532,591		6.0		(1,609		)
U.S. government and agencies	501,352		25,014		515		525,851		2.0		—
State and political subdivisions	378,457		51,117		3,498		426,076		1.7		—
Other foreign government, supranational and foreign government-sponsored enterprises	2,041,148		110,065		13,089		2,138,124		8.4		—
Total fixed maturity securities	$	23,105,597	$	2,508,673	$	133,298	$	25,480,972	100.0	%	$	(1,555	)
Non-redeemable preferred stock	$	93,540	$	7,350	$	1,527	$	99,363	78.3	%
Other equity securities	26,994		597		94		27,497		21.7
Total equity securities	$	120,534	$	7,947	$	1,621	$	126,860	100.0	%

The Company enters into various collateral arrangements that require both the pledging and acceptance of fixed maturity securities as collateral with derivative, repurchase agreement and reinsurance counterparties. Pledged fixed maturity securities are included in fixed maturity securities, available-for-sale in the condensed consolidated balance sheets. Fixed maturity securities received as collateral are held in separate custodial accounts and are not recorded on the Company’s condensed consolidated balance sheets. Subject to certain constraints, the Company is permitted by contract to sell or re-pledge collateral it receives; however, as of June 30, 2015 and December 31, 2014, none of the collateral received had been sold or re-pledged. The Company also holds securities in trust to satisfy collateral requirements under certain third-party reinsurance treaties. The following table includes fixed maturity securities pledged and received as collateral, and assets in trust held to satisfy collateral requirements under certain third-party reinsurance treaties as of June 30, 2015 and December 31, 2014 (dollars in thousands):



	June 30, 2015				December 31, 2014
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Fixed maturity securities pledged as collateral	$	181,681	$	190,298	$	127,229	$	134,863
Fixed maturity securities received as collateral	n/a		126,422		n/a		117,227
Securities held in trust	9,948,045		10,501,206		10,197,489		10,922,947

The Company monitors its concentrations of financial instruments on an ongoing basis, and mitigates credit risk by maintaining a diversified investment portfolio which limits exposure to any one issuer. The Company’s exposure to concentrations of credit risk of single issuers greater than 10% of the Company’s stockholders’ equity included securities of the U.S. government and its agencies as of June 30, 2015, as well as the securities disclosed below as of June 30, 2015 and December 31, 2014 (dollars in thousands).



	June 30, 2015				December 31, 2014
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Fixed maturity securities guaranteed or issued by:
Canadian province of Ontario	$	921,150	$	1,295,793	$	979,908	$	1,359,339
Canadian province of Quebec	1,012,835		1,560,409		1,006,315		1,599,673

The amortized cost and estimated fair value of fixed maturity securities available-for-sale at June 30, 2015 are shown by contractual maturity in the table below (dollars in thousands). Actual maturities can differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Asset and mortgage-backed securities are shown separately in the table below, as they are not due at a single maturity date.



	Amortized Cost		Estimated Fair Value
Available-for-sale:
Due in one year or less	$	686,582	$	696,191
Due after one year through five years	4,882,381		5,118,186
Due after five years through ten years	7,920,478		8,213,365
Due after ten years	9,138,647		10,257,261
Asset and mortgage-backed securities	3,677,244		3,778,972
Total	$	26,305,332	$	28,063,975

Corporate Fixed Maturity Securities

The tables below show the major industry types of the Company’s corporate fixed maturity holdings as of June 30, 2015 and December 31, 2014 (dollars in thousands):



June 30, 2015:			Estimated
	Amortized Cost		Fair Value		% of Total
Finance	$	5,238,400	$	5,419,421	32.9	%
Industrial	9,057,282		9,281,262		56.2
Utility	1,705,205		1,788,723		10.9
Total	$	16,000,887	$	16,489,406	100.0	%

December 31, 2014:			Estimated
	Amortized Cost		Fair Value		% of Total
Finance	$	4,789,568	$	5,066,408	34.0	%
Industrial	7,639,330		8,086,067		54.3
Utility	1,581,706		1,733,108		11.7
Total	$	14,010,604	$	14,885,583	100.0	%

Other-Than-Temporary Impairments - Fixed Maturity and Equity Securities

As discussed in Note 2 – “Summary of Significant Accounting Policies” of the 2014 Annual Report, a portion of certain other-than-temporary impairment (“OTTI”) losses on fixed maturity securities is recognized in AOCI. For these securities the net amount recognized in the condensed consolidated statements of income (“credit loss impairments”) represents the difference between the amortized cost of the security and the net present value of its projected future cash flows discounted at the effective interest rate implicit in the debt security prior to impairment. Any remaining difference between the fair value and amortized cost is recognized in AOCI. The following table sets forth the amount of pre-tax credit loss impairments on fixed maturity securities held by the Company as of the dates indicated, for which a portion of the OTTI loss was recognized in AOCI, and the corresponding changes in such amounts (dollars in thousands):



	Three months ended June 30,					Six months ended June 30,
	2015		2014			2015		2014
Balance, beginning of period	$	7,284	$	11,696		$	7,284	$	11,696
Credit loss OTTI previously recognized on securities which matured, paid down, prepaid or were sold during the period	—		(4,412		)	—		(4,412		)
Balance, end of period	$	7,284	$	7,284		$	7,284	$	7,284

Unrealized Losses for Fixed Maturity and Equity Securities Available-for-Sale

The following table presents the total gross unrealized losses for the 1,566 and 932 fixed maturity and equity securities as of June 30, 2015 and December 31, 2014, respectively, where the estimated fair value had declined and remained below amortized cost by the indicated amount (dollars in thousands):



	June 30, 2015				December 31, 2014
	Gross Unrealized Losses		% of Total		Gross Unrealized Losses		% of Total
Less than 20%	$	373,312	94.8	%	$	111,965	83.0	%
20% or more for less than six months	10,201		2.6		13,698		10.1
20% or more for six months or greater	10,328		2.6		9,256		6.9
Total	$	393,841	100.0	%	$	134,919	100.0	%

The Company’s determination of whether a decline in value is other-than-temporary includes analysis of the underlying credit and the extent and duration of a decline in value. The Company’s credit analysis of an investment includes determining whether the issuer is current on its contractual payments, evaluating whether it is probable that the Company will be able to collect all amounts due according to the contractual terms of the security and analyzing the overall ability of the Company to recover the amortized cost of the investment. In the Company’s impairment review process, the duration and severity of an unrealized loss position for equity securities are given greater weight and consideration given the lack of contractual cash flows or deferability features.

The following tables present the estimated fair values and gross unrealized losses, including other-than-temporary impairment losses reported in AOCI, for 1,566 and 932 fixed maturity and equity securities that have estimated fair values below amortized cost as of June 30, 2015 and December 31, 2014, respectively (dollars in thousands). These investments are presented by class and grade of security, as well as the length of time the related fair value has remained below amortized cost.



	Less than 12 months				12 months or greater				Total
			Gross				Gross				Gross
June 30, 2015:	Estimated		Unrealized		Estimated		Unrealized		Estimated		Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
Investment grade securities:
Corporate securities	$	4,719,168	$	194,881	$	299,379	$	17,451	$	5,018,547	$	212,332
Canadian and Canadian provincial governments	117,996		2,860		—		—		117,996		2,860
Residential mortgage-backed securities	309,772		6,659		64,855		3,772		374,627		10,431
Asset-backed securities	294,220		3,101		126,602		3,504		420,822		6,605
Commercial mortgage-backed securities	220,262		4,376		22,831		1,392		243,093		5,768
U.S. government and agencies	862,953		86,669		—		—		862,953		86,669
State and political subdivisions	157,210		7,399		13,180		3,582		170,390		10,981
Other foreign government, supranational and foreign government-sponsored enterprises	402,345		13,050		33,829		1,988		436,174		15,038
Total investment grade securities	7,083,926		318,995		560,676		31,689		7,644,602		350,684
Below investment grade securities:
Corporate securities	553,615		23,667		58,910		5,891		612,525		29,558
Residential mortgage-backed securities	31,443		268		11,779		395		43,222		663
Asset-backed securities	5,305		84		12,102		1,695		17,407		1,779
Commercial mortgage-backed securities	6,523		534		7,544		3,347		14,067		3,881
Other foreign government, supranational and foreign government-sponsored enterprises	62,974		2,502		3,921		172		66,895		2,674
Total below investment grade securities	659,860		27,055		94,256		11,500		754,116		38,555
Total fixed maturity securities	$	7,743,786	$	346,050	$	654,932	$	43,189	$	8,398,718	$	389,239
Non-redeemable preferred stock	$	39,466	$	2,178	$	6,225	$	1,442	$	45,691	$	3,620
Other equity securities	26,791		982		—		—		26,791		982
Total equity securities	$	66,257	$	3,160	$	6,225	$	1,442	$	72,482	$	4,602



	Less than 12 months				12 months or greater				Total
			Gross				Gross				Gross
December 31, 2014:	Estimated		Unrealized		Estimated		Unrealized		Estimated		Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
Investment grade securities:
Corporate securities	$	1,225,767	$	27,784	$	614,294	$	30,040	$	1,840,061	$	57,824
Canadian and Canadian provincial governments	—		—		1,235		7		1,235		7
Residential mortgage-backed securities	78,864		846		135,414		5,247		214,278		6,093
Asset-backed securities	332,785		4,021		109,411		4,289		442,196		8,310
Commercial mortgage-backed securities	78,632		564		28,375		2,461		107,007		3,025
U.S. government and agencies	81,317		89		32,959		426		114,276		515
State and political subdivisions	13,780		17		18,998		3,438		32,778		3,455
Other foreign government, supranational and foreign government-sponsored enterprises	156,725		7,007		76,111		2,946		232,836		9,953
Total investment grade securities	1,967,870		40,328		1,016,797		48,854		2,984,667		89,182
Below investment grade securities:
Corporate securities	415,886		29,316		32,567		3,404		448,453		32,720
Residential mortgage-backed securities	22,836		293		6,284		225		29,120		518
Asset-backed securities	12,448		274		7,108		1,791		19,556		2,065
Commercial mortgage-backed securities	3,288		249		5,580		5,385		8,868		5,634
State and political subdivisions	964		43		—		—		964		43
Other foreign government, supranational and foreign government-sponsored enterprises	13,986		3,136		—		—		13,986		3,136
Total below investment grade securities	469,408		33,311		51,539		10,805		520,947		44,116
Total fixed maturity securities	$	2,437,278	$	73,639	$	1,068,336	$	59,659	$	3,505,614	$	133,298
Non-redeemable preferred stock	$	11,619	$	235	$	19,100	$	1,292	$	30,719	$	1,527
Other equity securities	—		—		3,545		94		3,545		94
Total equity securities	$	11,619	$	235	$	22,645	$	1,386	$	34,264	$	1,621

The Company has no intention to sell nor does it expect to be required to sell the securities outlined in the table above, as of the dates indicated. However, unforeseen facts and circumstances may cause the Company to sell fixed maturity and equity securities in the ordinary course of managing its portfolio to meet certain diversification, credit quality and liquidity guidelines.

Unrealized losses on below investment grade securities as of June 30, 2015 are primarily related to high-yield corporate securities and commercial mortgage-backed securities. Unrealized losses increased across most security types as interest rates increased during the first six months of 2015.

Investment Income, Net of Related Expenses

Major categories of investment income, net of related expenses, consist of the following (dollars in thousands):



	Three months ended June 30,						Six months ended June 30,
	2015			2014			2015			2014
Fixed maturity securities available-for-sale	$	303,792		$	253,456		$	573,560		$	497,418
Mortgage loans on real estate	37,121			30,373			71,893			63,465
Policy loans	16,248			13,751			30,288			27,189
Funds withheld at interest	87,325			108,059			199,585			220,798
Short-term investments	814			80			1,509			1,045
Other invested assets	22,418			19,021			34,445			33,522
Investment income	467,718			424,740			911,280			843,437
Investment expense	(17,179		)	(14,133		)	(33,850		)	(28,455		)
Investment income, net of related expenses	$	450,539		$	410,607		$	877,430		$	814,982

Investment Related Gains (Losses), Net

Investment related gains (losses), net consist of the following (dollars in thousands):



	Three months ended June 30,						Six months ended June 30,
	2015			2014			2015			2014
Fixed maturity and equity securities available for sale:
Other-than-temporary impairment losses on fixed maturity securities recognized in earnings	$	(4,137	)	$	(870	)	$	(6,664	)	$	(1,173	)
Gain on investment activity	20,009			34,887			39,210			42,954
Loss on investment activity	(14,475		)	(6,877		)	(28,071		)	(13,460		)
Other impairment losses and change in mortgage loan provision	143			(5,309		)	(4,025		)	(3,645		)
Derivatives and other, net	(17,718		)	96,696			(9,045		)	178,422
Total investment related gains (losses), net	$	(16,178	)	$	118,527		$	(8,595	)	$	203,098

The fluctuations in investment related gains (losses) for derivatives and other for the three and six months ended June 30, 2015, compared to the same periods in 2014, are primarily due to changes in the fair value of interest rate swaps and the embedded derivatives related to modified coinsurance and funds withheld treaties, as a result of changes in interest rates.

During the three months ended June 30, 2015 and 2014, the Company sold fixed maturity and equity securities with fair values of $651.3 million and $222.8 million at losses of $14.5 million and $6.9 million, respectively. During the six months ended June 30, 2015 and 2014, the Company sold fixed maturity and equity securities with fair values of $850.9 million and $457.9 million at losses of $28.1 million and $13.5 million, respectively. The Company generally does not engage in short-term buying and selling of securities.

Securities Borrowing and Other

The Company participates in securities borrowing programs whereby securities, which are not reflected on the Company’s condensed consolidated balance sheets, are borrowed from third parties. The borrowed securities are used to provide collateral under affiliated reinsurance transactions. The Company is required to maintain a minimum of 100% of the fair value, or par value under certain programs, of the borrowed securities as collateral. The collateral consists of rights to reinsurance treaty cash flows. If cash flows from the reinsurance treaties are insufficient to maintain the minimum collateral requirement, the Company may substitute cash or securities to meet the requirement. No cash or securities have been pledged by the Company for this purpose.

During the year, the Company participated in a repurchase program in which securities, reflected as investments on the Company’s condensed consolidated balance sheets, were pledged to a third party. In return, the Company received cash from the third party, reflected as a payable to the third party, included in other liabilities on the condensed consolidated balance sheets. The Company was required to maintain a minimum collateral balance with a fair value of 105% of the cash received. The Company terminated the program and all cash was returned prior to June 30, 2015. The gross balance of the repurchase agreement payable was $101.4 million as of December 31, 2014. This was fully collateralized by securities with a fair value of $107.2 million as of December 31, 2014.

Additionally, the Company participates in a repurchase/reverse repurchase program in which securities, reflected as investments on the Company’s condensed consolidated balance sheets, are pledged to a third party. In return, the Company receives securities from the third party with an estimated fair value equal to a minimum of 100% of the securities pledged. The securities received are not reflected on the Company’s condensed consolidated balance sheets.

The following table includes the amount of borrowed securities, repurchased securities pledged and repurchased/reverse repurchased securities pledged and received as of June 30, 2015 and December 31, 2014 (dollars in thousands).



	June 30, 2015				December 31, 2014
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Borrowed securities	$	275,060	$	284,602	$	201,050	$	212,946
Repurchase program securities pledged	—		—		92,446		107,158
Repurchase program/reverse repurchase program:
Securities pledged	298,900		313,771		298,466		314,160
Securities received	n/a		340,201		n/a		338,929

The following table presents information on the securities pledged as collateral by the Company related to its repurchase/reverse repurchase program as of June 30, 2015 (dollars in thousands). Collateral associated with certain borrowed securities is not included within the table as the collateral pledged to each counterparty is the right to reinsurance treaty cash flows.



	June 30, 2015
	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Up to 30 Days		30-90 Days		Greater than 90 Days		Total
Collateral on repurchase program
U.S. treasury and agency securities	$	—	$	—	$	23,237	$	177,294	$	200,531
Residential mortgage-backed securities	—		—		—		104,144		104,144
Other debt instruments	9,096		—		—		—		9,096
Total borrowings	$	9,096	$	—	$	23,237	$	281,438	$	313,771

Gross amount of recognized liabilities for repurchase agreement in preceding table									$	340,201
Amounts related to agreements not included in offsetting disclosure									$	26,430

Mortgage Loans on Real Estate

Mortgage loans represented approximately 7.8% and 7.4% of the Company’s total investments as of June 30, 2015 and December 31, 2014. The Company makes mortgage loans on income producing properties that are geographically diversified throughout the U.S., with the largest concentration being in California, which represented 20.6% and 18.7% of mortgage loans on real estate as of June 30, 2015 and December 31, 2014, respectively. Loan-to-value ratios at the time of loan approval are 75% or less. The distribution of mortgage loans, gross of valuation allowances, by property type is as follows as of June 30, 2015 and December 31, 2014 (dollars in thousands):



	June 30, 2015				December 31, 2014
Property type:	Recorded Investment		% of Total		Recorded Investment		% of Total
Office building	$	957,724	31.1	%	$	851,749	31.3	%
Retail	964,540		31.4		802,466		29.6
Industrial	535,856		17.4		466,583		17.2
Apartment	410,213		13.3		376,430		13.8
Other commercial	210,922		6.8		221,481		8.1
Total	$	3,079,255	100.0	%	$	2,718,709	100.0	%

The maturities of the mortgage loans, gross of valuation allowances, as of June 30, 2015 and December 31, 2014 are as follows (dollars in thousands):



	June 30, 2015				December 31, 2014
	Recorded Investment		% of Total		Recorded Investment		% of Total
Due within five years	$	877,270	28.5	%	$	860,362	31.6	%
Due after five years through ten years	1,459,108		47.4		1,165,530		42.9
Due after ten years	742,877		24.1		692,817		25.5
Total	$	3,079,255	100.0	%	$	2,718,709	100.0	%

Information regarding the Company’s credit quality indicators, as determined by the Company's internal evaluation methodology for its recorded investment in mortgage loans, gross of valuation allowances, as of June 30, 2015 and December 31, 2014 is as follows (dollars in thousands):



	June 30, 2015				December 31, 2014
Internal credit quality grade:	Recorded Investment		% of Total		Recorded Investment		% of Total
High investment grade	$	1,553,149	50.5	%	$	1,326,199	48.8	%
Investment grade	1,405,901		45.7		1,235,046		45.4
Average	81,284		2.6		118,152		4.4
Watch list	22,036		0.7		22,285		0.8
In or near default	16,885		0.5		17,027		0.6
Total	$	3,079,255	100.0	%	$	2,718,709	100.0	%

None of the payments due to the Company on its recorded investment in mortgage loans were delinquent as of June 30, 2015 and December 31, 2014.

The following table presents the recorded investment in mortgage loans, by method of measuring impairment, and the related valuation allowances as of June 30, 2015 and December 31, 2014 (dollars in thousands):



	June 30, 2015		December 31, 2014
Mortgage loans:
Individually measured for impairment	$	16,885	$	17,027
Collectively measured for impairment	3,062,370		2,701,682
Mortgage loans, gross of valuation allowances	3,079,255		2,718,709
Valuation allowances:
Individually measured for impairment	671		816
Collectively measured for impairment	5,271		5,655
Total valuation allowances	5,942		6,471
Mortgage loans, net of valuation allowances	$	3,073,313	$	2,712,238

Information regarding the Company’s loan valuation allowances for mortgage loans for the three and six months ended June 30, 2015 and 2014 is as follows (dollars in thousands):



	Three months ended June 30,					Six months ended June 30,
	2015			2014		2015			2014
Balance, beginning of period	$	6,130		$	8,466	$	6,471		$	10,106
Charge-offs, net of recoveries	—			—		—			24
Provision (release)	(188		)	1,226		(529		)	(438		)
Balance, end of period	$	5,942		$	9,692	$	5,942		$	9,692

Information regarding the portion of the Company’s mortgage loans that were impaired as of June 30, 2015 and December 31, 2014 is as follows (dollars in thousands):



	Unpaid Principal Balance		Recorded Investment		Related Allowance		Carrying Value
June 30, 2015:
Impaired mortgage loans with no valuation allowance recorded	$	4,414	$	4,354	$	—	$	4,354
Impaired mortgage loans with valuation allowance recorded	13,039		12,531		671		11,860
Total impaired mortgage loans	$	17,453	$	16,885	$	671	$	16,214
December 31, 2014:
Impaired mortgage loans with no valuation allowance recorded	$	7,314	$	6,711	$	—	$	6,711
Impaired mortgage loans with valuation allowance recorded	10,279		10,316		816		9,500
Total impaired mortgage loans	$	17,593	$	17,027	$	816	$	16,211

The Company’s average investment in impaired mortgage loans and the related interest income are reflected in the table below for the periods indicated (dollars in thousands):
	Three months ended June 30,
	2015				2014
	Average Recorded Investment⁽¹⁾		Interest Income		Average Recorded Investment⁽¹⁾		Interest Income
Impaired mortgage loans with no valuation allowance recorded	$	5,524	$	35	$	14,589	$	71
Impaired mortgage loans with valuation allowance recorded	11,397		229		15,855		259
Total impaired mortgage loans	$	16,921	$	264	$	30,444	$	330

	Six months ended June 30,
	2015				2014
	Average Recorded Investment⁽¹⁾		Interest Income		Average Recorded Investment⁽¹⁾		Interest Income
Impaired mortgage loans with no valuation allowance recorded	$	5,920	$	141	$	16,759	$	389
Impaired mortgage loans with valuation allowance recorded	11,036		384		16,151		452
Total impaired mortgage loans	$	16,956	$	525	$	32,910	$	841

(1) Average recorded investment represents the average loan balances as of the beginning of period and all subsequent quarterly end of period balances.

The Company did not acquire any impaired mortgage loans during the six months ended June 30, 2015 and 2014. The Company had no mortgage loans that were on a nonaccrual status at June 30, 2015 and December 31, 2014.

Policy Loans

Policy loans comprised approximately 3.6% and 3.5% of the Company’s total investments as of June 30, 2015 and December 31, 2014, respectively, the majority of which are associated with one client. These policy loans present no credit risk because the amount of the loan cannot exceed the obligation due to the ceding company upon the death of the insured or surrender of the underlying policy. The provisions of the treaties in force and the underlying policies determine the policy loan interest rates. As policy loans represent premature distributions of policy liabilities, they have the effect of reducing future disintermediation risk. In addition, the Company earns a spread between the interest rate earned on policy loans and the interest rate credited to corresponding liabilities.

Funds Withheld at Interest

Funds withheld at interest comprised approximately 14.7% and 16.1% of the Company’s total investments as of June 30, 2015 and December 31, 2014, respectively. Of the $5.8 billion funds withheld at interest balance, net of embedded derivatives, as of June 30, 2015, $4.2 billion of the balance is associated with one client. For reinsurance agreements written on a modified coinsurance basis and certain agreements written on a coinsurance funds withheld basis, assets equal to the net statutory reserves are withheld and legally owned and managed by the ceding company and are reflected as funds withheld at interest on the Company’s condensed consolidated balance sheets. In the event of a ceding company’s insolvency, the Company would need to assert a claim on the assets supporting its reserve liabilities. However, the risk of loss to the Company is mitigated by its ability to offset amounts it owes the ceding company for claims or allowances against amounts owed to the Company from the ceding company.

Other Invested Assets

Other invested assets include equity securities, limited partnership interests, joint ventures (other than operating joint ventures), structured loans, derivative contracts, fair value option ("FVO") contractholder-directed unit-linked investments, Federal Home Loan Bank of Des Moines ("FHLB") common stock (included in other in the table below), real estate held-for-investment (included in other in the table below), and equity release mortgages (included in other in the table below). The fair value option was elected for contractholder-directed investments supporting unit-linked variable annuity type liabilities which do not qualify for presentation and reporting as separate accounts. Other invested assets represented approximately 2.8% and 3.3% of the Company’s total investments as of June 30, 2015 and December 31, 2014, respectively. Carrying values of these assets as of June 30, 2015 and December 31, 2014 are as follows (dollars in thousands):



	June 30, 2015		December 31, 2014
Equity securities	$	127,668	$	126,860
Limited partnerships and real estate joint ventures	492,465		446,604
Structured loans	52,185		164,309
Derivatives	194,276		216,966
FVO contractholder-directed unit-linked investments	137,529		140,344
Other	105,984		103,236
Total other invested assets	$	1,110,107	$	1,198,319

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References + Details

Derivative Instruments

6 Months Ended

Jun. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

Derivatives, except for embedded derivatives and longevity and mortality swaps, are carried on the Company’s condensed consolidated balance sheets in other invested assets or other liabilities, at fair value. Longevity and mortality swaps are included on the condensed consolidated balance sheets in other assets or other liabilities, at fair value. Embedded derivative assets and liabilities on modified coinsurance or funds withheld arrangements are included on the condensed consolidated balance sheets with the host contract in funds withheld at interest, at fair value. Embedded derivative liabilities on indexed annuity and variable annuity products are included on the condensed consolidated balance sheets with the host contract in interest-sensitive contract liabilities, at fair value. The following table presents the notional amounts and gross fair value of derivative instruments prior to taking into account the netting effects of master netting agreements as of June 30, 2015 and December 31, 2014 (dollars in thousands):



	June 30, 2015						December 31, 2014
	Notional		Carrying Value/Fair Value				Notional		Carrying Value/Fair Value
	Amount		Assets		Liabilities		Amount		Assets		Liabilities
Derivatives not designated as hedging instruments:
Interest rate swaps	$	966,658	$	71,399	$	11,025	$	1,144,661	$	93,783	$	3,934
Interest rate options	—		—		—		240,000		18,195		—
Financial futures	313,905		—		—		275,983		—		—
Foreign currency forwards	60,000		129		7,551		67,967		87		15,098
Consumer price index swaps	39,537		34		57		41,938		—		561
Credit default swaps	891,700		11,757		3,937		805,700		11,689		3,502
Equity options	483,830		44,883		—		555,361		35,242		—
Longevity swaps	891,760		10,853		—		450,000		7,727		—
Mortality swaps	50,000		—		1,754		50,000		—		797
Synthetic guaranteed investment contracts	6,594,770		—		—		6,500,942		—		—
Embedded derivatives in:
Modified coinsurance or funds withheld arrangements	—		—		3,329		—		22,094		—
Indexed annuity products	—		—		935,619		—		—		925,887
Variable annuity products	—		—		133,535		—		—		159,279
Total non-hedging derivatives	10,292,160		139,055		1,096,807		10,132,552		188,817		1,109,058
Derivatives designated as hedging instruments:
Interest rate swaps	120,000		—		23,662		120,000		—		18,228
Foreign currency swaps	715,641		88,303		413		676,972		70,906		—
Forward bond purchase commitments	—		—		—		196,452		1,175		14,545
Total hedging derivatives	835,641		88,303		24,075		993,424		72,081		32,773
Total derivatives	$	11,127,801	$	227,358	$	1,120,882	$	11,125,976	$	260,898	$	1,141,831

Netting Arrangements

Certain of the Company’s derivatives are subject to enforceable master netting arrangements and reported as a net asset or liability in the condensed consolidated balance sheets. The Company nets all derivatives that are subject to such arrangements.

The Company has elected to include all derivatives, except embedded derivatives, in the tables below, irrespective of whether they are subject to an enforceable master netting arrangement or a similar agreement. See Note 4 – "Investments" for information regarding the Company’s securities borrowing, repurchase and repurchase/reverse repurchase programs. See “Embedded Derivatives” below for information regarding the Company’s bifurcated embedded derivatives.

The following table provides information relating to the Company’s derivative instruments as of June 30, 2015 and December 31, 2014 (dollars in thousands):



								Gross Amounts Not Offset in the Balance Sheet
	Gross Amounts Recognized		Gross Amounts Offset in the Balance Sheet			Net Amounts Presented in the Balance Sheet		Financial Instruments			Cash Collateral Pledged/ Received			Net Amount
June 30, 2015:
Derivative assets	$	227,358	$	(22,230	)	$	205,128	$	(15,587	)	$	(160,768	)	$	28,773
Derivative liabilities	48,399		(22,230		)	26,169		(54,692		)	(4,940		)	(33,463		)
December 31, 2014:
Derivative assets	$	238,804	$	(14,111	)	$	224,693	$	(20,260	)	$	(178,141	)	$	26,292
Derivative liabilities	56,665		(14,111		)	42,554		(47,222		)	—			(4,668		)

Accounting for Derivative Instruments and Hedging Activities

The Company does not enter into derivative instruments for speculative purposes. As discussed below under “Non-qualifying Derivatives and Derivatives for Purposes Other Than Hedging,” the Company uses various derivative instruments for risk management purposes that either do not qualify or have not been qualified for hedge accounting treatment, including derivatives used to economically hedge changes in the fair value of liabilities associated with the reinsurance of variable annuities with guaranteed living benefits. As of June 30, 2015 and December 31, 2014, the Company held interest rate swaps that were designated and qualified as cash flow hedges of interest rate risk, held foreign currency swaps that were designated and qualified as hedges of a portion of its net investment in its foreign operations, had derivative instruments that were not designated as hedging instruments and, as of December 31, 2014, the Company had forward bond purchase commitments that qualified as cash flow hedges. See Note 2 – “Summary of Significant Accounting Policies” of the Company’s 2014 Annual Report for a detailed discussion of the accounting treatment for derivative instruments, including embedded derivatives. Derivative instruments are carried at fair value and generally require an insignificant amount of cash at inception of the contracts.

Cash Flow Hedges

Certain derivative instruments are designated as cash flow hedges when they meet the requirements of the general accounting principles for Derivatives and Hedging. The Company designates and accounts for certain interest rate swaps, in which the cash flows are denominated in different currencies, commonly referred to as cross-currency swaps, as cash flow hedges. In addition, the Company designates and accounts for its forward bond purchase commitments as cash flow hedges.

The following table presents the components of AOCI, before income tax, and the condensed consolidated income statement classification where the gain or loss is recognized related to cash flow hedges for the three and six months ended June 30, 2015 and 2014 (dollars in thousands):



	Three months ended June 30,
	2015			2014
Accumulated other comprehensive income (loss), balance beginning of period	$	(30,598	)	$	(4,020	)
Gains (losses) deferred in other comprehensive income (loss) on the effective portion of cash flow hedges	8,735			4,798
Amounts reclassified to investment related gains (losses), net	(1,495		)	—
Amounts reclassified to investment income	(543		)	(321		)
Accumulated other comprehensive income (loss), balance end of period	$	(23,901	)	$	457

	Six months ended June 30,
	2015			2014
Accumulated other comprehensive income (loss), balance beginning of period	$	(31,591	)	$	(4,578	)
Gains (losses) deferred in other comprehensive income (loss) on the effective portion of cash flow hedges	8,948			5,574
Amounts reclassified to investment related gains (losses), net	(655		)	—
Amounts reclassified to investment income	(603		)	(539		)
Accumulated other comprehensive income (loss), balance end of period	$	(23,901	)	$	457

As of June 30, 2015, the before-tax deferred net gains on derivative instruments recorded in AOCI that are expected to be reclassified to earnings during the next twelve months are approximately $0.5 million. This expectation is based on the anticipated interest payments on hedged investments in fixed maturity securities that will occur over the next twelve months, at which time the Company will recognize the deferred net gains (losses) as an adjustment to investment income over the term of the investment cash flows.

The following table presents the effects of derivatives in cash flow hedging relationships on the condensed consolidated statements of income and AOCI for the three and six months ended June 30, 2015 and 2014 (dollars in thousands):



	Effective Portion						Ineffective Portion
Derivative Type	Gain (Loss) Recognized in OCI			Gain (Loss) Reclassified into Income from OCI		Classification of Gain (Loss) Reclassified into Net Income	Gain (Loss) Recognized in Income		Classification of Gain (Loss) Recognized in Net Income
For the three months ended June 30, 2015:
Interest rate swaps	$	2,417		$	231	Investment Income	$	—	Investment related gains (losses)
Forward bond purchase commitments:
Principal	6,318			1,495		Investment related gains (losses)	—		Investment related gains (losses)
Interest	—			312		Investment Income	—		Investment related gains (losses)
Total	$	8,735		$	2,038		$	—
For the three months ended June 30, 2014:
Interest rate swaps	$	4,798		$	321	Investment Income	$	7	Investment related gains (losses)

For the six months ended June 30, 2015:
Interest rate swaps	$	(5,150	)	$	291	Investment Income	$	7	Investment related gains (losses)
Forward bond purchase commitments:
Principal	14,098			655		Investment related gains (losses)	—		Investment related gains (losses)
Interest	—			312		Investment Income	—		Investment related gains (losses)
Total	$	8,948		$	1,258		$	7
For the six months ended June 30, 2014:
Interest rate swaps	$	5,574		$	539	Investment Income	$	1	Investment related gains (losses)

All components of each derivative's gain or loss were included in the assessment of hedge effectiveness.

Hedges of Net Investments in Foreign Operations

The Company uses foreign currency swaps to hedge a portion of its net investment in certain foreign operations against adverse movements in exchange rates. The following table illustrates the Company’s net investments in foreign operations (“NIFO”) hedges for the three and six months ended June 30, 2015 and 2014 (dollars in thousands):



	Derivative Gains (Losses) Deferred in AOCI
	For the three months ended June 30,						For the six months ended June 30,
Type of NIFO Hedge ^{(1) (2)}	2015			2014			2015		2014
Foreign currency swaps	$	(12,945	)	$	(22,335	)	$	37,021	$	744


(1)	There were no sales or substantial liquidations of net investments in foreign operations that would have required the reclassification of gains or losses from accumulated other comprehensive income (loss) into investment income during the periods presented.


(2)	There was no ineffectiveness recognized for the Company’s hedges of net investments in foreign operations.

The cumulative foreign currency translation gain recorded in AOCI related to these hedges was $112.9 million and $75.8 million at June 30, 2015 and December 31, 2014, respectively. If a foreign operation was sold or substantially liquidated, the amounts in AOCI would be reclassified to the condensed consolidated statements of income. A pro rata portion would be reclassified upon partial sale of a foreign operation.

Non-qualifying Derivatives and Derivatives for Purposes Other Than Hedging

The Company uses various other derivative instruments for risk management purposes that either do not qualify or have not been qualified for hedge accounting treatment, including derivatives used to economically hedge changes in the fair value of liabilities associated with the reinsurance of variable annuities with guaranteed living benefits. The gain or loss related to the change in fair value for these derivative instruments is recognized in investment related gains (losses), in the condensed consolidated statements of income, except where otherwise noted.

A summary of the effect of non-hedging derivatives, including embedded derivatives, on the Company’s income statement for the three and six months ended June 30, 2015 and 2014 is as follows (dollars in thousands):



		Gain (Loss) for the three months ended June 30,
Type of Non-hedging Derivative	Income Statement Location of Gain (Loss)	2015			2014
Interest rate swaps	Investment related gains (losses), net	$	(41,729	)	$	22,251
Interest rate options	Investment related gains (losses), net	—			2,004
Financial futures	Investment related gains (losses), net	(2,183		)	(7,684		)
Foreign currency forwards	Investment related gains (losses), net	(1,433		)	1,178
CPI swaps	Investment related gains (losses), net	168			114
Credit default swaps	Investment related gains (losses), net	(187		)	4,783
Equity options	Investment related gains (losses), net	(2,606		)	(8,800		)
Longevity swaps	Other revenues	1,911			—
Mortality swaps	Other revenues	(478		)	—
Subtotal		(46,537		)	13,846
Embedded derivatives in:
Modified coinsurance or funds withheld arrangements	Investment related gains (losses), net	(23,098		)	78,835
Indexed annuity products	Interest credited	8,080			(27,285		)
Variable annuity products	Investment related gains (losses), net	50,878			(5,183		)
Total non-hedging derivatives		$	(10,677	)	$	60,213

		Gain (Loss) for the six months ended June 30,
Type of Non-hedging Derivative	Income Statement Location of Gain (Loss)	2015			2014
Interest rate swaps	Investment related gains (losses), net	$	(12,385	)	$	51,904
Interest rate options	Investment related gains (losses), net	3,275			3,286
Financial futures	Investment related gains (losses), net	(9,514		)	(9,268		)
Foreign currency forwards	Investment related gains (losses), net	(1,653		)	2,332
CPI swaps	Investment related gains (losses), net	97			467
Credit default swaps	Investment related gains (losses), net	2,471			2,669
Equity options	Investment related gains (losses), net	(10,672		)	(17,765		)
Longevity swaps	Other revenues	3,731			—
Mortality swaps	Other revenues	(957		)	—
Subtotal		(25,607		)	33,625
Embedded derivatives in:
Modified coinsurance or funds withheld arrangements	Investment related gains (losses), net	(25,423		)	156,076
Indexed annuity products	Interest credited	(21,246		)	(51,125		)
Variable annuity products	Investment related gains (losses), net	25,745			(28,844		)
Total non-hedging derivatives		$	(46,531	)	$	109,732

Types of Derivatives Used by the Company

Interest Rate Swaps

Interest rate swaps are used by the Company primarily to reduce market risks from changes in interest rates and to alter interest rate exposure arising from mismatches between assets and liabilities (duration mismatches). With an interest rate swap, the Company agrees with another party to exchange, at specified intervals, the difference between two rates, which can be either fixed-rate or floating-rate interest amounts, tied to an agreed-upon notional principal amount. These transactions are executed pursuant to master agreements that provide for a single net payment or individual gross payments at each due date.

Interest Rate Options

Interest rate options, commonly referred to as swaptions, are used by the Company primarily to hedge living benefit guarantees embedded in certain variable annuity products. A swaption, used to hedge against adverse changes in interest rates, is an option to enter into a swap with a forward starting effective date. The Company pays an upfront premium for the right to exercise this option in the future.

Financial Futures

Exchange-traded futures are used primarily to economically hedge liabilities embedded in certain variable annuity products. With exchange-traded futures transactions, the Company agrees to purchase or sell a specified number of contracts, the value of which is determined by the relevant indices, and to post variation margin on a daily basis in an amount equal to the difference between the daily estimated fair values of those contracts. The Company enters into exchange-traded futures with regulated futures commission merchants that are members of the exchange.

Equity Options

Equity index options are used by the Company primarily to hedge minimum guarantees embedded in certain variable annuity products. To hedge against adverse changes in equity indices volatility, the Company buys put options. The contracts are net settled in cash based on differentials in the indices at the time of exercise and the strike price.

Consumer Price Index Swaps

Consumer price index (“CPI”) swaps are used by the Company primarily to economically hedge liabilities embedded in certain insurance products where value is directly affected by changes in a designated benchmark consumer price index. With a CPI swap transaction, the Company agrees with another party to exchange the actual amount of inflation realized over a specified period of time for a fixed amount of inflation determined at inception. These transactions are executed pursuant to master agreements that provide for a single net payment or individual gross payments to be made by the counterparty at each due date. Most of these swaps will require a single payment to be made by one counterparty at the maturity date of the swap.

Foreign Currency Swaps

Foreign currency swaps are used by the Company to reduce the risk from fluctuations in foreign currency exchange rates associated with its assets and liabilities denominated in foreign currencies. With a foreign currency swap transaction, the Company agrees with another party to exchange, at specified intervals, the difference between one currency and another at a forward exchange rate calculated by reference to an agreed upon principal amount. The principal amount of each currency is exchanged at the termination of the currency swap by each party. The Company uses foreign currency swaps to hedge a portion of its net investment in certain foreign operations against adverse movements in exchange rates.

Foreign Currency Forwards

Foreign currency forwards are used by the Company to reduce the risk from fluctuations in foreign currency exchange rates associated with its assets and liabilities denominated in foreign currencies. With a foreign currency forward transaction, the Company agrees with another party to deliver a specified amount of an identified currency at a specified future date. The price is agreed upon at the time of the contract and payment for such a contract is made in a different currency at the specified future date.

Forward Bond Purchase Commitments

Forward bond purchase commitments are used by the Company to hedge against the variability in the anticipated cash flows required to purchase securities. With forward bond purchase commitments, the forward price is agreed upon at the time of the contract and payment for such contract is made at the future specified settlement date of the securities.

Credit Default Swaps

The Company sells protection under single name credit default swaps and credit default swap index tranches to diversify its credit risk exposure in certain portfolios and, in combination with purchasing securities, to replicate characteristics of similar investments based on the credit quality and term of the credit default swap. Credit default triggers for indexed reference entities and single name reference entities are defined in the contracts. The Company’s maximum exposure to credit loss equals the notional value for credit default swaps. In the event of default of a referencing entity, the Company is typically required to pay the protection holder the full notional value less a recovery amount determined at auction.

The following table presents the estimated fair value, maximum amount of future payments and weighted average years to maturity of credit default swaps sold by the Company at June 30, 2015 and December 31, 2014 (dollars in thousands):



	June 30, 2015						December 31, 2014
Rating Agency Designation of Referenced Credit Obligations⁽¹⁾	Estimated Fair Value of Credit Default Swaps			Maximum Amount of Future Payments under Credit Default Swaps⁽²⁾		Weighted Average Years to Maturity⁽³⁾	Estimated Fair Value of Credit Default Swaps			Maximum Amount of Future Payments under Credit Default Swaps⁽²⁾		Weighted Average Years to Maturity⁽³⁾
AAA/AA-/A+/A/A-
Single name credit default swaps	$	2,250		$	189,500	4.6	$	1,498		$	167,500	4.6
Credit default swaps referencing indices	—			—		—	—			—		—
Subtotal	2,250			189,500		4.6	1,498			167,500		4.6
BBB+/BBB/BBB-
Single name credit default swaps	(182		)	281,200		4.8	168			217,200		4.9
Credit default swaps referencing indices	5,923			416,000		5.0	6,651			416,000		5.0
Subtotal	5,741			697,200		4.9	6,819			633,200		4.9
BB+
Single name credit default swaps	(171		)	5,000		4.0	(130		)	5,000		4.5
Credit default swaps referencing indices	—			—		—	—			—		—
Subtotal	(171		)	5,000		4.0	(130		)	5,000		4.5
Total	$	7,820		$	891,700	4.8	$	8,187		$	805,700	4.9


(1)	The rating agency designations are based on ratings from Standard and Poor’s (“S&P”).


(2)	Assumes the value of the referenced credit obligations is zero.


(3)	The weighted average years to maturity of the credit default swaps is calculated based on weighted average notional amounts.

Longevity Swaps

The Company enters into longevity swaps in the form of out-of-the-money options, which provide protection against changes in mortality improvement to retirement plans and insurers of such plans. With a longevity swap transaction, the Company agrees with another party to exchange a proportion of a notional value. The proportion is determined by the difference between a predefined benefit, and the realized benefit plus the future expected benefit, calculated by reference to a population index for a fixed premium.

Mortality Swaps

Mortality swaps are used by the Company to hedge risk from changes in mortality experience associated with its reinsurance of life insurance risk. The Company agrees with another party to exchange, at specified intervals, a proportion of a notional value determined by the difference between a predefined expected and realized claim amount on a designated index of reinsured lives, for a fixed percentage (premium) each term.

Synthetic Guaranteed Investment Contracts

The Company sells fee-based synthetic guaranteed investment contracts which include investment-only, stable value contracts, to retirement plans. The assets are owned by the trustees of such plans, who invest the assets under the terms of investment guidelines agreed to with the Company. The contracts contain a guarantee of a minimum rate of return on participant balances supported by the underlying assets, and a guarantee of liquidity to meet certain participant-initiated plan cash flow requirements. These contracts are reported as derivatives, recorded at fair value and classified as interest rate derivatives.

Embedded Derivatives

The Company has certain embedded derivatives which are required to be separated from their host contracts and reported as derivatives. Host contracts include reinsurance treaties structured on a modified coinsurance (“modco”) or funds withheld basis. The valuation of embedded derivatives is sensitive to the investment credit spread environment. Changes in investment credit spreads are also affected by the application of a credit valuation adjustment (“CVA”). The fair value calculation of an embedded derivative in an asset position utilizes a CVA based on the ceding company’s credit risk. Conversely, the fair value calculation of an embedded derivative in a liability position utilizes a CVA based on the Company’s credit risk. Generally, an increase in investment credit spreads, ignoring changes in the CVA, will have a negative impact on the fair value of the embedded derivative (decrease in income).

Changes in fair values of embedded derivatives on modco or funds withheld treaties are net of an increase (decrease) in investment related gains (losses) of $0.2 million and $(0.5) million for the three months and $0.2 million and $(1.3) million for the six months ended June 30, 2015 and 2014, respectively, associated with a CVA. The Company also reinsures equity-indexed annuity and variable annuity contracts with benefits that are considered embedded derivatives, including guaranteed minimum withdrawal benefits, guaranteed minimum accumulation benefits, and guaranteed minimum income benefits. Changes in fair values of embedded derivatives on variable annuity contracts are net of an increase (decrease) in investment related gains (losses) of $(1.3) million and $0.1 million for the three months, and $(0.8) million and $0.5 million for the six month periods ended June 30, 2015 and 2014, associated with a CVA. The related gains (losses) and the effect on net income after amortization of deferred acquisition costs (“DAC”) and income taxes for the three and six months ended June 30, 2015 and 2014 are reflected in the following table (dollars in thousands):



	Three months ended June 30,						Six months ended June 30,
	2015			2014			2015			2014
Embedded derivatives in modco or funds withheld arrangements included in investment related gains	$	(23,098	)	$	78,835		$	(25,423	)	$	156,076
After the associated amortization of DAC and taxes, the related amounts included in net income	(3,917		)	17,962			(6,504		)	36,042
Embedded derivatives in variable annuity contracts included in investment related gains	50,878			(5,183		)	25,745			(28,844		)
After the associated amortization of DAC and taxes, the related amounts included in net income	19,608			(6,486		)	10,198			(20,154		)
Amounts related to embedded derivatives in equity-indexed annuities included in benefits and expenses	8,080			(27,285		)	(21,246		)	(51,125		)
After the associated amortization of DAC and taxes, the related amounts included in net income	1,233			(15,600		)	(14,766		)	(33,976		)

Credit Risk

The Company manages its credit risk related to over-the-counter ("OTC") derivatives by entering into transactions with creditworthy counterparties, maintaining collateral arrangements and through the use of master netting agreements that provide for a single net payment to be made by one counterparty to another at each due date and upon termination.

The credit exposure of the Company's OTC derivative transactions is represented by the contracts with a positive fair value (market value) at the reporting date. To reduce credit exposures, the Company seeks to (i) enter into OTC derivative transactions pursuant to master netting agreements that provide for a netting of payments and receipts with a single counterparty, and (ii) enter into agreements that allow the use of credit support annexes, which are bilateral rating-sensitive agreements that require collateral postings at established threshold levels. Certain of the Company's OTC derivatives are cleared derivatives, which are bilateral transactions between the Company and a counterparty where the transactions are cleared through a clearinghouse, such that each derivative counterparty is only exposed to the default of the clearinghouse. These cleared transactions require initial and daily variation margin collateral postings and include certain interest rate swaps and credit default swaps entered into on or after June 10, 2013, related to guidelines implemented under the Dodd-Frank Wall Street Reform and Consumer Protection Act. Also, the Company enters into exchange-traded futures through regulated exchanges and these transactions are settled on a daily basis, thereby reducing credit risk exposure in the event of non-performance by counterparties to such financial instruments.

The Company enters into various collateral arrangements, which require both the posting and accepting of collateral in connection with its derivative instruments. Collateral agreements contain attachment thresholds that may vary depending on the posting party’s ratings. Additionally, a decline in the Company’s or the counterparty’s credit ratings to specified levels could result in potential settlement of the derivative positions under the Company’s agreements with its counterparties. The Company also has exchange-traded futures, which require the maintenance of a margin account. As exchange-traded futures are affected through regulated exchanges, and positions are marked to market on a daily basis, the Company has minimal exposure to credit-related losses in the event of nonperformance by counterparties.

The Company’s credit exposure related to derivative contracts is generally limited to the fair value at the reporting date plus or minus any collateral posted or held by the Company. The Company’s credit exposure to non-investment swaps is minimal, as mortality swaps are fully collateralized by a counterparty and longevity swaps would require posting of collateral only upon the occurrence of certain agreed upon events. Information regarding the Company’s credit exposure related to its over-the-counter derivative contracts, centrally cleared derivative contracts and margin account for exchange-traded futures, excluding longevity and mortality swaps, at June 30, 2015 and December 31, 2014 are reflected in the following table (dollars in thousands):



	June 30, 2015			December 31, 2014
Estimated fair value of derivatives in net asset position	$	169,860		$	175,209
Cash provided as collateral⁽¹⁾	4,940			—
Securities pledged to counterparties as collateral⁽²⁾	54,692			47,222
Cash pledged from counterparties as collateral⁽³⁾	(160,768		)	(178,141		)
Securities pledged from counterparties as collateral⁽⁴⁾	(15,587		)	(20,260		)
Initial margin for cleared derivatives⁽²⁾	(31,960		)	(16,333		)
Net credit exposure	$	21,177		$	7,697
Margin account related to exchange-traded futures⁽⁵⁾	$	6,283		$	7,976


(1)	Consists of receivable from counterparty, included in other assets.


(2)	Included in available-for-sale securities, primarily consists of U.S. Treasury securities.


(3)	Included in cash and cash equivalents, with obligation to return cash collateral recorded in other liabilities.


(4)	Consists of U.S. Treasury securities.


(5)	Included in cash and cash equivalents.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624171-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=35706170&loc=d3e41620-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624163-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5579240-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4D
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624177-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80784-113994

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=35706170&loc=d3e41641-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5579245-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
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+ Details

Fair Value of Assets and Liabilities

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Fair Value Disclosures

Fair Value of Assets and Liabilities

Fair Value Measurement

General accounting principles for Fair Value Measurements and Disclosures define fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. These principles also establish a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value and describes three levels of inputs that may be used to measure fair value:

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities. Active markets are defined as having the following characteristics for the measured asset/liability: (i) many transactions, (ii) current prices, (iii) price quotes not varying substantially among market makers, (iv) narrow bid/ask spreads and (v) most information publicly available. The Company’s Level 1 assets include investment securities that are traded in exchange markets.

Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or market standard valuation techniques and assumptions with significant inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Such observable inputs include benchmarking prices for similar assets in active, liquid markets, quoted prices in markets that are not active and observable yields and spreads in the market. The Company’s Level 2 assets and liabilities include investment securities with quoted prices that are traded less frequently than exchange-traded instruments and derivative contracts whose values are determined using market standard valuation techniques. This category primarily includes corporate securities, Canadian and Canadian provincial government securities, and residential and commercial mortgage-backed securities, and other foreign government, supranational and foreign government sponsored enterprises among others. Level 2 valuations are generally obtained from third party pricing services for identical or comparable assets or liabilities or through the use of valuation methodologies using observable market inputs. Prices from servicers are validated through analytical reviews and assessment of current market activity.

Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the related assets or liabilities. Level 3 assets and liabilities include those whose value is determined using market standard valuation techniques described above. When observable inputs are not available, the market standard techniques for determining the estimated fair value of certain securities that trade infrequently, and therefore have little transparency, rely on inputs that are significant to the estimated fair value and that are not observable in the market or cannot be derived principally from or corroborated by observable market data. These unobservable inputs can be based in large part on management judgment or estimation and cannot be supported by reference to market activity. Even though unobservable, management believes these inputs are based on assumptions deemed appropriate given the circumstances and consistent with what other market participants would use when pricing similar assets and liabilities. For the Company’s invested assets, this category generally includes corporate securities (primarily private placements and bank loans), asset-backed securities (including collateralized debt obligations and those with exposure to subprime mortgages), and to a lesser extent, certain residential and commercial mortgage-backed securities, and state and political subdivisions among others. Prices are determined using valuation methodologies such as discounted cash flow models and other similar techniques. Non-binding broker quotes, which are utilized when pricing service information is not available, are reviewed for reasonableness based on the Company’s understanding of the market, and are generally considered Level 3. Under certain circumstances, based on its observations of transactions in active markets, the Company may conclude the prices received from independent third party pricing services or brokers are not reasonable or reflective of market activity. In those instances, the Company would apply internally developed valuation techniques to the related assets or liabilities. Additionally, the Company’s embedded derivatives, all of which are associated with reinsurance treaties and longevity and mortality swaps, are classified in Level 3 since their values include significant unobservable inputs.

When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement in its entirety. For example, a Level 3 fair value measurement may include inputs that are observable (Levels 1 and 2) and unobservable (Level 3). Therefore, gains and losses for such assets and liabilities categorized within Level 3 may include changes in fair value that are attributable to both observable inputs (Levels 1 and 2) and unobservable inputs (Level 3).

Assets and Liabilities by Hierarchy Level

Assets and liabilities measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014 are summarized below (dollars in thousands):



June 30, 2015:				Fair Value Measurements Using:
	Total			Level 1		Level 2			Level 3
Assets:
Fixed maturity securities – available-for-sale:
Corporate securities	$	16,489,406		$	157,790	$	15,094,299		$	1,237,317
Canadian and Canadian provincial governments	3,793,807			—		3,793,807			—
Residential mortgage-backed securities	1,190,879			—		892,503			298,376
Asset-backed securities	1,062,624			—		482,114			580,510
Commercial mortgage-backed securities	1,525,469			—		1,447,650			77,819
U.S. government and agencies	1,263,998			1,111,189		125,450			27,359
State and political subdivisions	506,172			—		465,986			40,186
Other foreign government supranational and foreign government-sponsored enterprises	2,231,620			268,042		1,948,921			14,657
Total fixed maturity securities – available-for-sale	28,063,975			1,537,021		24,250,730			2,276,224
Funds withheld at interest – embedded derivatives	(3,329		)	—		—			(3,329		)
Cash equivalents	665,037			665,037		—			—
Short-term investments	34,733			20,896		13,837			—
Other invested assets:
Non-redeemable preferred stock	90,574			78,186		—			12,388
Other equity securities	37,094			37,094		—			—
Derivatives:
Interest rate swaps	52,864			—		52,864			—
CPI swaps	(23		)	—		(23		)	—
Credit default swaps	8,248			—		8,248			—
Equity options	44,883			—		44,883			—
Foreign currency swaps	88,303			—		88,303			—
FVO contractholder-directed unit-linked investments	137,529			132,870		4,659			—
Other	9,852			9,852		—			—
Total other invested assets	469,324			258,002		198,934			12,388
Other assets – longevity swaps	10,853			—		—			10,853
Total	$	29,240,593		$	2,480,956	$	24,463,501		$	2,296,136
Liabilities:
Interest sensitive contract liabilities – embedded derivatives	$	1,069,154		$	—	$	—		$	1,069,154
Other liabilities:
Derivatives:
Interest rate swaps	16,152			—		16,152			—
Foreign currency forwards	7,422			—		7,422			—
Credit default swaps	428			—		428			—
Foreign currency swaps	413			—		413			—
Mortality swaps	1,754			—		—			1,754
Total	$	1,095,323		$	—	$	24,415		$	1,070,908



December 31, 2014:				Fair Value Measurements Using:
	Total			Level 1		Level 2			Level 3
Assets:
Fixed maturity securities – available-for-sale:
Corporate securities	$	14,885,583		$	115,822	$	13,459,334		$	1,310,427
Canadian and Canadian provincial governments	3,865,265			—		3,865,265			—
Residential mortgage-backed securities	1,037,896			—		849,802			188,094
Asset-backed securities	1,069,586			—		496,626			572,960
Commercial mortgage-backed securities	1,532,591			—		1,445,845			86,746
U.S. government and agencies	525,851			437,129		60,193			28,529
State and political subdivisions	426,076			—		383,365			42,711
Other foreign government, supranational and foreign government-sponsored enterprises	2,138,124			285,995		1,832,466			19,663
Total fixed maturity securities – available-for-sale	25,480,972			838,946		22,392,896			2,249,130
Funds withheld at interest – embedded derivatives	22,094			—		—			22,094
Cash equivalents	899,846			899,846		—			—
Short-term investments	45,190			21,536		23,654			—
Other invested assets:
Non-redeemable preferred stock	99,363			91,450		9			7,904
Other equity securities	27,497			27,497		—			—
Derivatives:
Interest rate swaps	84,578			—		84,578			—
Interest rate options	18,195			—		18,195			—
CPI swaps	(561		)	—		(561		)	—
Credit default swaps	8,606			—		8,606			—
Equity options	35,242			—		35,242			—
Foreign currency swaps	70,906			—		70,906			—
FVO contractholder-directed unit-linked investments	140,344			134,749		5,595			—
Other	6,420			6,420		—			—
Total other invested assets	490,590			260,116		222,570			7,904
Other assets - longevity swaps	7,727			—		—			7,727
Total	$	26,946,419		$	2,020,444	$	22,639,120		$	2,286,855
Liabilities:
Interest sensitive contract liabilities – embedded derivatives	$	1,085,166		$	—	$	—		$	1,085,166
Other liabilities:
Derivatives:
Interest rate swaps	12,957			—		12,957			—
Foreign currency forwards	15,011			—		15,011			—
Credit default swaps	419			—		419			—
Forward purchase commitments	13,370			—		13,370			—
Mortality swaps	797			—		—			797
Total	$	1,127,720		$	—	$	41,757		$	1,085,963

The Company may utilize information from third parties, such as pricing services and brokers, to assist in determining the fair value for certain assets and liabilities; however, management is ultimately responsible for all fair values presented in the Company’s condensed consolidated financial statements. This includes responsibility for monitoring the fair value process, ensuring objective and reliable valuation practices and pricing of assets and liabilities, and approving changes to valuation methodologies and pricing sources. The selection of the valuation technique(s) to apply considers the definition of an exit price and the nature of the asset or liability being valued and significant expertise and judgment is required.

The Company performs initial and ongoing analysis and review of the various techniques utilized in determining fair value to ensure that the valuation approaches utilized are appropriate and consistently applied, and that the various assumptions are reasonable. The Company also performs ongoing analysis and review of the information and prices received from third parties to ensure that the prices represent a reasonable estimate of the fair value and to monitor controls around pricing, which includes quantitative and qualitative analysis and is overseen by the Company’s investment and accounting personnel. Examples of procedures performed include, but are not limited to, review of pricing trends, comparison of a sample of executed prices of securities sold to the fair value estimates, comparison of fair value estimates to management’s knowledge of the current market, and ongoing confirmation that third party pricing services use, wherever possible, market-based parameters for valuation. In addition, the Company utilizes both internal and external cash flow models to analyze the reasonableness of fair values utilizing credit spread and other market assumptions, where appropriate. As a result of the analysis, if the Company determines there is a more appropriate fair value based upon the available market data, the price received from the third party is adjusted accordingly. The Company also determines if the inputs used in estimated fair values received from pricing services are observable by assessing whether these inputs can be corroborated by observable market data.

The fair value of embedded derivative liabilities, including those calculated by third parties, are monitored through the use of attribution reports to quantify the effect of underlying sources of fair value change, including capital market inputs based on policyholder account values, interest rates and short-term and long-term implied volatilities, from period to period. Actuarial assumptions are based on experience studies performed internally in combination with available industry information and are reviewed on a periodic basis, at least annually.

For assets and liabilities reported at fair value, the Company utilizes, when available, fair values based on quoted prices in active markets that are regularly and readily obtainable. Generally, these are very liquid investments and the valuation does not require management judgment. When quoted prices in active markets are not available, fair value is based on market valuation techniques, market comparable pricing and the income approach. The use of different techniques, assumptions and inputs may have a material effect on the estimated fair values of the Company’s securities holdings. For the periods presented, the application of market standard valuation techniques applied to similar assets and liabilities has been consistent.

The methods and assumptions the Company uses to estimate the fair value of assets and liabilities measured at fair value on a recurring basis are summarized below.

Fixed Maturity Securities – The fair values of the Company’s publicly-traded fixed maturity securities are generally based on prices obtained from independent pricing services. Prices from pricing services are sourced from multiple vendors, and a vendor hierarchy is maintained by asset type based on historical pricing experience and vendor expertise. The Company generally receives prices from multiple pricing services for each security, but ultimately uses the price from the pricing service highest in the vendor hierarchy based on the respective asset type. To validate reasonableness, prices are periodically reviewed as explained above. Consistent with the fair value hierarchy described above, securities with validated quotes from pricing services are generally reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. If the pricing information received from third party pricing services is not reflective of market activity or other inputs observable in the market, the Company may challenge the price through a formal process with the pricing service.

If the Company ultimately concludes that pricing information received from the independent pricing service is not reflective of market activity, non-binding broker quotes are used, if available. If the Company concludes the values from both pricing services and brokers are not reflective of market activity, it may override the information from the pricing service or broker with an internally developed valuation; however, this occurs infrequently. Internally developed valuations or non-binding broker quotes are also used to determine fair value in circumstances where vendor pricing is not available. These estimates may use significant unobservable inputs, which reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset. Circumstances where observable market data are not available may include events such as market illiquidity and credit events related to the security. Pricing service overrides, internally developed valuations and non-binding broker quotes are generally based on significant unobservable inputs and are reflected as Level 3 in the valuation hierarchy.

The inputs used in the valuation of corporate and government securities include, but are not limited to standard market observable inputs which are derived from, or corroborated by, market observable data including market yield curve, duration, call provisions, observable prices and spreads for similar publicly traded or privately traded issues that incorporate the credit quality and industry sector of the issuer. For structured securities, valuation is based primarily on matrix pricing or other similar techniques using standard market inputs including spreads for actively traded securities, spreads off benchmark yields, expected prepayment speeds and volumes, current and forecasted loss severity, rating, weighted average coupon, weighted average maturity, average delinquency rates, geographic region, debt-service coverage ratios and issuance-specific information including, but not limited to: collateral type, payment terms of the underlying assets, payment priority within the tranche, structure of the security, deal performance and vintage of loans.

When observable inputs are not available, the market standard valuation techniques for determining the estimated fair value of certain types of securities that trade infrequently, and therefore have little or no price transparency, rely on inputs that are significant to the estimated fair value that are not observable in the market or cannot be derived principally from or corroborated by observable market data. These unobservable inputs can be based in large part on management judgment or estimation, and cannot be supported by reference to market activity. Even though unobservable, these inputs are based on assumptions deemed appropriate given the circumstances and are believed to be consistent with what other market participants would use when pricing such securities.

The fair values of private placement securities are primarily determined using a discounted cash flow model. In certain cases these models primarily use observable inputs with a discount rate based upon the average of spread surveys collected from private market intermediaries who are active in both primary and secondary transactions, taking into account, among other factors, the credit quality and industry sector of the issuer and the reduced liquidity associated with private placements. Generally, these securities have been reflected within Level 3. For certain private fixed maturities, the discounted cash flow model may also incorporate significant unobservable inputs, which reflect the Company’s own assumptions about the inputs market participants would use in pricing the security. To the extent management determines that such unobservable inputs are not significant to the price of a security, a Level 2 classification is made. Otherwise, a Level 3 classification is used.

Embedded Derivatives – For embedded derivative liabilities associated with the underlying products in reinsurance treaties, primarily equity-indexed and variable annuity treaties, the Company utilizes a discounted cash flow model, which includes an estimate of future equity option purchases and an adjustment for a CVA. The variable annuity embedded derivative calculations are performed by third parties based on methodology and input assumptions provided by the Company. To validate the reasonableness of the resulting fair value, the Company’s internal actuaries perform reviews and analytical procedures on the results. The capital market inputs to the model, such as equity indexes, short-term equity volatility and interest rates, are generally observable. The valuation also requires certain significant inputs, which are generally not observable and accordingly, the valuation is considered Level 3 in the fair value hierarchy, see “Level 3 Measurements and Transfers” below for a description.

The fair value of embedded derivatives associated with funds withheld reinsurance treaties is determined based upon a total return swap technique with reference to the fair value of the investments held by the ceding company that support the Company’s funds withheld at interest asset with an adjustment for a CVA. The fair value of the underlying assets is generally based on market observable inputs using industry standard valuation techniques. The valuation also requires certain significant inputs, which are generally not observable and accordingly, the valuation is considered Level 3 in the fair value hierarchy, see “Level 3 Measurements and Transfers” below for a description.

Credit Valuation Adjustment – The Company uses a structural default risk model to estimate a CVA. The input assumptions are a combination of externally derived and published values (default threshold and uncertainty), market inputs (interest rate, equity price per share, debt per share, equity price volatility) and insurance industry data (Loss Given Default), adjusted for market recoverability.

Cash Equivalents and Short-Term Investments – Cash equivalents and short-term investments include money market instruments, commercial paper and other highly liquid debt instruments. Money market instruments are generally valued using unadjusted quoted prices in active markets that are accessible for identical assets and are primarily classified as Level 1. The fair value of certain other short-term investments, such as floating rate notes and bonds with original maturities less than twelve months, are based upon other market observable data and are typically classified as Level 2. However, certain short-term investments may incorporate significant unobservable inputs resulting in a Level 3 classification. Various time deposits carried as cash equivalents or short-term investments are not measured at estimated fair value and therefore are excluded from the tables presented.

Equity Securities – Equity securities consist principally of exchange-traded funds and preferred stock of publicly and privately traded companies. The fair values of publicly traded equity securities are primarily based on quoted market prices in active markets and are classified within Level 1 in the fair value hierarchy. The fair values of preferred equity securities, for which quoted market prices are not readily available, are based on prices obtained from independent pricing services and these securities are generally classified within Level 2 in the fair value hierarchy. Non-binding broker quotes for equity securities are generally based on significant unobservable inputs and are reflected as Level 3 in the fair value hierarchy.

FVO Contractholder-Directed Unit-Linked Investments - FVO contractholder-directed investments supporting unit-linked variable annuity type liabilities primarily consist of exchange-traded funds and, to a lesser extent, fixed maturity securities and cash and cash equivalents. The fair values of the exchange-traded securities are primarily based on quoted market prices in active markets and are classified within Level 1 of the hierarchy. The fair value of the fixed maturity contractholder-directed securities is determined on a basis consistent with the methodologies described above for fixed maturity securities and are classified within Level 2 of the hierarchy.

Derivative Assets and Derivative Liabilities – All of the derivative instruments utilized by the Company, except for longevity and mortality swaps, are classified within Level 2 on the fair value hierarchy. These derivatives are principally valued using an income approach. Valuations of interest rate contracts are based on present value techniques, which utilize significant inputs that may include the swap yield curve, LIBOR basis curves, and repurchase rates. Valuations of foreign currency contracts, are based on present value techniques, which utilize significant inputs that may include the swap yield curve, LIBOR basis curves, currency spot rates, and cross currency basis curves. Valuations of credit contracts are based on present value techniques, which utilize significant inputs that may include the swap yield curve, credit curves, and recovery rates. Valuations of equity market contracts, are based on present value techniques, which utilize significant inputs that may include the swap yield curve, spot equity index levels, and dividend yield curves. Valuations of equity market contracts, option-based, are based on option pricing models, which utilize significant inputs that may include the swap yield curve, spot equity index levels, dividend yield curves, and equity volatility. The Company does not currently have derivatives, except for longevity and mortality swaps, included in Level 3 measurement.

Longevity and Mortality Swaps – The Company utilizes a discounted cash flow model to estimate the fair value of longevity and mortality swaps. The fair value of these swaps includes an accrual for premiums payable and receivable. Some inputs to the valuation model are generally observable, such as interest rates and actual population mortality experience. The valuation also requires significant inputs that are generally not observable and, accordingly, the valuation is considered Level 3 in the fair value hierarchy.

Level 3 Measurements and Transfers

As of June 30, 2015 and December 31, 2014, the Company classified approximately 8.1% and 8.8%, respectively, of its fixed maturity securities in the Level 3 category. These securities primarily consist of private placement corporate securities and bank loans with inactive trading markets. Additionally, the Company has included asset-backed securities with subprime exposure and mortgage-backed securities with below investment grade ratings in the Level 3 category due to market uncertainty associated with these securities and the Company’s utilization of unobservable information from third parties for the valuation of these securities.

The significant unobservable inputs used in the fair value measurement of the Company’s corporate, sovereign, government-backed, and other political subdivision investments are probability of default, liquidity premium and subordination premium. Significant increases (decreases) in any of those inputs in isolation would result in a significantly lower (higher) fair value measurement. Generally, a change in the assumption used for the probability of default is accompanied by a directionally similar change in the assumptions used for the liquidity premium and subordination premium. For securities with a fair value derived using the market comparable pricing valuation technique, liquidity premium is the only significant unobservable input.

The significant unobservable inputs used in the fair value measurement of the Company’s asset and mortgage-backed securities are prepayment rates, probability of default, liquidity premium and loss severity in the event of default. Significant increases (decreases) in any of those inputs in isolation would result in a significantly lower (higher) fair value measurement. Generally, a change in the assumption used for the probability of default is accompanied by a directionally similar change in the assumption used for the liquidity premium and loss severity and a directionally opposite change in the assumption used for prepayment rates.

The actuarial assumptions used in the fair value of embedded derivatives which include assumptions related to lapses, withdrawals, and mortality, are based on experience studies performed by the Company in combination with available industry information and are reviewed on a periodic basis, at least annually. The significant unobservable inputs used in the fair value measurement of embedded derivatives are assumptions associated with policyholder experience and selected capital market assumptions for equity-indexed and variable annuities. The selected capital market assumptions, which include long-term implied volatilities, are projections based on short-term historical information. Changes in interest rates, equity indices, equity volatility, CVA, and actuarial assumptions regarding policyholder experience may result in significant fluctuations in the value of embedded derivatives.

Fair value measurements associated with funds withheld reinsurance treaties are generally not materially sensitive to changes in unobservable inputs associated with policyholder experience. The primary drivers of change in these fair values are related to movements of credit spreads, which are generally observable. Increases (decreases) in market credit spreads tend to decrease (increase) the fair value of embedded derivatives. Increases (decreases) in the CVA assumption tend to decrease (increase) the magnitude of the fair value of embedded derivatives.

Fair value measurements associated with variable annuity treaties are sensitive to both capital markets inputs and policyholder experience inputs. Increases (decreases) in lapse rates tend to decrease (increase) the value of the embedded derivatives associated with variable annuity treaties. Increases (decreases) in the long-term volatility assumption tend to increase (decrease) the fair value of embedded derivatives. Increases (decreases) in the CVA assumption tend to decrease (increase) the magnitude of the fair value of embedded derivatives.

The actuarial assumptions used in the fair value of longevity and mortality swaps include assumptions related to the level and volatility of mortality. The assumptions are based on studies performed by the Company in combination with available industry information and are reviewed on a periodic basis, at least annually.

The following table presents quantitative information about significant unobservable inputs used in Level 3 fair value measurements that are developed by the Company, which does not include unobservable Level 3 asset and liability measurements provided by third parties, as of June 30, 2015 and December 31, 2014 (dollars in thousands):



June 30, 2015:				Valuation Technique	Unobservable Inputs	Range (Weighted Average)
June 30, 2015:	Fair Value			Valuation Technique	Unobservable Inputs	Range (Weighted Average)
Assets:
State and political subdivision securities	$	4,817		Market comparable securities	Liquidity premium	1	%
Corporate securities	205,003			Market comparable securities	Liquidity premium	0-2% (1%)
U.S. government and agencies securities	27,359			Market comparable securities	Liquidity premium	0-1% (1%)
Funds withheld at interest- embedded derivatives	(3,329		)	Total return swap	Mortality	0-100% (2%)
					Lapse	0-35% (8%)
					Withdrawal	0-5% (3%)
					CVA	0-5% (1%)
					Crediting rate	2-4% (3%)
Longevity swaps	10,853			Discounted cash flow	Mortality	0-100% (2%)
					Mortality improvement	(10%)-10% (3%)
Liabilities:
Interest sensitive contract liabilities- embedded derivatives- indexed annuities	935,619			Discounted cash flow	Mortality	0-100% (2%)
					Lapse	0-35% (8%)
					Withdrawal	0-5% (3%)
					Option budget projection	2-4% (3%)

Interest sensitive contract liabilities- embedded derivatives- variable annuities	133,535			Discounted cash flow	Mortality	0-100% (2%)
					Lapse	0-25% (9%)
					Withdrawal	0-7% (3%)
					CVA	0-5% (1%)
					Long-term volatility	0-27% (14%)
Mortality swaps	1,754			Discounted cash flow	Mortality	0-100% (1%)

December 31, 2014:

Fair Value

Valuation Technique(s)

Unobservable Input

Range (Weighted Average)

Assets:

State and political subdivision securities

4,994

Market comparable

securities

Liquidity premium

Corporate securities

205,392

Market comparable

securities

Liquidity premium

0-2% (1%)

U.S. government and agencies securities

28,530

Market comparable

securities

Liquidity premium

0-1% (1%)

Funds withheld at interest- embedded derivatives

22,094

Total return swap

Mortality

0-100% (2%)

Lapse

0-35% (7%)

Withdrawal

0-5% (3%)

CVA

0-5% (1%)

Crediting rate

2-4% (3%)

Longevity swaps

7,727

Discounted cash flow

Mortality

0-100% (2%)

Mortality improvement

(10%)-10% (3%)

Liabilities:

Interest sensitive contract liabilities- embedded derivatives- indexed annuities

925,887

Discounted cash flow

Mortality

0-100% (2%)

Lapse

0-35% (7%)

Withdrawal

0-5% (3%)

Option budget projection

2-4% (3%)

Interest sensitive contract liabilities- embedded derivatives- variable annuities

159,279

Discounted cash flow

Mortality

0-100% (2%)

Lapse

0-25% (8%)

Withdrawal

0-7% (3%)

CVA

0-5% (1%)

Long-term volatility

0-27% (11%)

Mortality swaps

797

Discounted cash flow

Mortality

0-100% (1%)

The Company recognizes transfers of assets and liabilities into and out of levels within the fair value hierarchy at the beginning of the quarter in which the actual event or change in circumstances that caused the transfer occurs. Assets and liabilities transferred into Level 3 are due to a lack of observable market transactions and price information. Assets and liabilities are transferred out of Level 3 when circumstances change such that significant inputs can be corroborated with market observable data. This may be due to a significant increase in market activity for the asset or liability, a specific event, one or more significant input(s) becoming observable. Transfers out of Level 3 were primarily the result of the Company using observable pricing information or a third party pricing quotation that appropriately reflects the fair value of those assets and liabilities. In addition, certain transfers out of Level 3 were also due to ratings upgrades on mortgage-backed securities that had previously had below investment-grade ratings.

Transfers from Level 1 to Level 2 are due to the lack of observable market data when pricing these securities, while transfers from Level 2 to Level 1 are due to an increase in the availability of market observable data in an active market. The following tables present the transfers between Level 1 and Level 2 during the three and six months ended June 30, 2015 and 2014 (dollars in thousands):



	2015				2014
	Transfers from Level 1 to Level 2		Transfers from Level 2 to Level 1		Transfers from Level 1 to Level 2		Transfers from Level 2 to Level 1
Three months ended June 30:
Fixed maturity securities - available-for-sale:
Corporate securities	$	—	$	31,896	$	—	$	10,058

Six months ended June 30:
Fixed maturity securities - available-for-sale:
Corporate securities	$	625	$	36,996	$	—	$	10,058

The tables below provide a summary of the changes in fair value of Level 3 assets and liabilities for the three and six months ended June 30, 2015, as well as the portion of gains or losses included in income for the three and six months ended June 30, 2015 attributable to unrealized gains or losses related to those assets and liabilities still held at June 30, 2015 (dollars in thousands):



For the three months ended June 30, 2015:	Fixed maturity securities - available-for-sale
	Corporate securities			Residential mortgage- backed securities			Asset-backed securities			Commercial mortgage- backed securities			U.S. government and agencies			State and political subdivisions
Fair value, beginning of period	$	1,286,979		$	192,579		$	609,436		$	93,869		$	27,756		$	41,875
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(1,051		)	(156		)	1,511			677			112			8
Investment related gains (losses), net	(166		)	17			283			(770		)	(10		)	(5		)
Claims & other policy benefits	—			—			—			—			—			—
Interest credited	—			—			—			—			—			—
Policy acquisition costs and other insurance expenses	—			—			—			—			—			—
Included in other comprehensive income	(16,902		)	(1,291		)	(301		)	(386		)	(559		)	(1,480		)
Purchases⁽¹⁾	76,982			118,868			44,181			42			154			—
Sales⁽¹⁾	(3,949		)	—			(1,615		)	(2,000		)	—			—
Settlements⁽¹⁾	(103,696		)	(8,617		)	(63,751		)	(893		)	(94		)	(212		)
Transfers into Level 3	413			1,800			—			—			—			—
Transfers out of Level 3	(1,293		)	(4,824		)	(9,234		)	(12,720		)	—			—
Fair value, end of period	$	1,237,317		$	298,376		$	580,510		$	77,819		$	27,359		$	40,186
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(997	)	$	(156	)	$	706		$	640		$	112		$	8
Investment related gains (losses), net	—			—			—			—			—			—
Claims & other policy benefits	—			—			—			—			—			—
Interest credited	—			—			—			—			—			—
Policy acquisition costs and other insurance expenses	—			—			—			—			—			—



For the three months ended June 30, 2015 (continued):	Fixed maturity securities available-for-sale
	Other foreign government, supranational and foreign government-sponsored enterprises			Funds withheld at interest- embedded derivatives			Other invested assets - non-redeemable preferred stock			Other assets longevity swaps		Interest sensitive contract liabilities embedded derivatives			Other liabilities mortality swaps
Fair value, beginning of period	$	15,202		$	19,769		$	7,992		$	8,602	$	(1,132,271	)	$	(1,276	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	—			—			—			—		—			—
Investment related gains (losses), net	—			(23,098		)	—			—		50,878			—
Claims & other policy benefits	—			—			—			—		—			—
Interest credited	—			—			—			—		8,080			—
Policy acquisition costs and other insurance expenses	—			—			—			—		—			—
Included in other comprehensive income	(232		)	—			(104		)	340		—			—
Other revenues	—			—			—			1,911		—			(478		)
Purchases⁽¹⁾	—			—			4,500			—		(13,924		)	—
Sales⁽¹⁾	—			—			—			—		—			—
Settlements⁽¹⁾	(313		)	—			—			—		18,083			—
Transfers into Level 3	—			—			—			—		—			—
Transfers out of Level 3	—			—			—			—		—			—
Fair value, end of period	$	14,657		$	(3,329	)	$	12,388		$	10,853	$	(1,069,154	)	$	(1,754	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	—		$	—		$	—		$	—	$	—		$	—
Investment related gains (losses), net	—			(23,098		)	—			—		48,603			—
Other revenues	—			—			—			1,911		—			(478		)
Claims & other policy benefits	—			—			—			—		—			—
Interest credited	—			—			—			—		(10,003		)	—
Policy acquisition costs and other insurance expenses	—			—			—			—		—			—



For the six months ended June 30, 2015:	Fixed maturity securities - available-for-sale
	Corporate securities			Residential mortgage- backed securities			Asset-backed securities			Commercial mortgage- backed securities			U.S. government and agencies			State and political subdivisions
Fair value, beginning of period	$	1,310,427		$	188,094		$	572,960		$	86,746		$	28,529		$	42,711
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(1,854		)	(296		)	2,930			1,271			93			15
Investment related gains (losses), net	(571		)	(65		)	356			(683		)	(117		)	(9		)
Claims & other policy benefits	—			—			—			—			—			—
Interest credited	—			—			—			—			—			—
Policy acquisition costs and other insurance expenses	—			—			—			—			—			—
Included in other comprehensive income	(10,833		)	(768		)	3,331			(696		)	(383		)	(1,455		)
Purchases⁽¹⁾	113,882			130,307			85,172			42			275			—
Sales⁽¹⁾	(3,949		)	(714		)	(8,971		)	(2,956		)	—			—
Settlements⁽¹⁾	(163,296		)	(14,336		)	(67,873		)	(6,013		)	(1,038		)	(241		)
Transfers into Level 3	413			2,400			9,055			12,828			—			—
Transfers out of Level 3	(6,902		)	(6,246		)	(16,450		)	(12,720		)	—			(835		)
Fair value, end of period	$	1,237,317		$	298,376		$	580,510		$	77,819		$	27,359		$	40,186
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(1,800	)	$	(297	)	$	2,105		$	1,229		$	93		$	15
Investment related gains (losses), net	—			—			—			—			—			—
Claims & other policy benefits	—			—			—			—			—			—
Interest credited	—			—			—			—			—			—
Policy acquisition costs and other insurance expenses	—			—			—			—			—			—



For the six months ended June 30, 2015 (continued):	Fixed maturity securities available-for-sale
	Other foreign government, supranational and foreign government-sponsored enterprises			Funds withheld at interest- embedded derivatives			Other invested assets - non-redeemable preferred stock			Other assets longevity swaps			Interest sensitive contract liabilities embedded derivatives			Other liabilities mortality swaps
Fair value, beginning of period	$	19,663		$	22,094		$	7,904		$	7,727		$	(1,085,166	)	$	(797	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	—			—			—			—			—			—
Investment related gains (losses), net	—			(25,423		)	—			—			25,745			—
Claims & other policy benefits	—			—			—			—			—			—
Interest credited	—			—			—			—			—			—
Policy acquisition costs and other insurance expenses	—			—			—			—			(21,246		)	—
Included in other comprehensive income	(50		)	—			(16		)	(605		)	—			—
Other revenues	—			—			—			3,731			—			(957		)
Purchases⁽¹⁾	—			—			4,529			—			(25,568		)	—
Sales⁽¹⁾	—			—			—			—			—			—
Settlements⁽¹⁾	(623		)	—			—			—			—			—
Transfers into Level 3	—			—			—			—			37,081			—
Transfers out of Level 3	(4,333		)	—			(29		)	—			—			—
Fair value, end of period	$	14,657		$	(3,329	)	$	12,388		$	10,853		$	(1,069,154	)	$	(1,754	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	—		$	—		$	—		$	—		$	—		$	—
Investment related gains (losses), net	—			(25,423		)	—			—			20,358			—
Other revenues	—			—			—			3,731			—			(957		)
Claims & other policy benefits	—			—			—			—			—			—
Interest credited	—			—			—			—			(58,327		)	—
Policy acquisition costs and other insurance expenses	—			—			—			—			—			—


(1)	The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.

The tables below provide a summary of the changes in fair value of Level 3 assets and liabilities for the three and six months ended June 30, 2014, as well as the portion of gains or losses included in income for the three and six months ended June 30, 2014 attributable to unrealized gains or losses related to those assets and liabilities still held at June 30, 2014 (dollars in thousands):



For the three months ended June 30, 2014:	Fixed maturity securities - available-for-sale
	Corporate securities			Residential mortgage-backed securities			Asset-backed securities			Commercial mortgage-backed securities			U.S. government and agencies
Fair value, beginning of period	$	1,291,701		$	177,927		$	502,675		$	90,373		$	38,031
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(1,273		)	42			2,055			447			(185		)
Investment related gains (losses), net	165			31			942			6			(55		)
Claims & other policy benefits	—			—			—			—			—
Interest credited	—			—			—			—			—
Policy acquisition costs and other insurance expenses	—			—			—			—			—
Included in other comprehensive income	6,086			368			514			1,639			572
Purchases ⁽¹⁾	52,549			13,398			64,884			—			165
Sales⁽¹⁾	(8,929		)	—			(14,258		)	—			—
Settlements⁽¹⁾	(49,002		)	(6,401		)	(6,318		)	(263		)	(5,534		)
Transfers into Level 3	—			901			5,666			5,712			—
Transfers out of Level 3	(3,357		)	(719		)	—			—			—
Fair value, end of period	$	1,287,940		$	185,547		$	556,160		$	97,914		$	32,994
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(1,274	)	$	42		$	2,005		$	447		$	(185	)
Investment related gains (losses), net	—			—			—			—			—
Claims & other policy benefits	—			—			—			—			—
Interest credited	—			—			—			—			—
Policy acquisition costs and other insurance expenses	—			—			—			—			—



	Fixed maturity securities - available-for-sale
For the three months ended June 30, 2014 (continued):	State and political subdivisions			Other foreign government, supranational and foreign government-sponsored enterprises			Funds withheld at interest- embedded derivatives			Interest sensitive contract liabilities embedded derivatives
Fair value, beginning of period	$	43,833		$	11,157		$	(99,029	)	$	(911,987	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	10			—			—			—
Investment related gains (losses), net	(4		)	—			78,835			(5,182		)
Claims & other policy benefits	—			—			—			—
Interest credited	—			—			—			(27,285		)
Policy acquisition costs and other insurance expenses	—			—			—			—
Included in other comprehensive income	2,330			33			—			—
Purchases⁽¹⁾	—			—			—			(14,215		)
Sales⁽¹⁾	—			—			—			—
Settlements⁽¹⁾	(402		)	(302		)	—			18,433
Transfers into Level 3	—			—			—			—
Transfers out of Level 3	—			—			—			—
Fair value, end of period	$	45,767		$	10,888		$	(20,194	)	$	(940,236	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	10		$	—		$	—		$	—
Investment related gains (losses), net	—			—			78,835			(5,946		)
Claims & other policy benefits	—			—			—			—
Interest credited	—			—			—			(45,718		)
Policy acquisition costs and other insurance expenses	—			—			—			—



For the six months ended June 30, 2014:	Fixed maturity securities - available-for-sale
	Corporate securities			Residential mortgage- backed securities			Asset-backed securities			Commercial mortgage- backed securities			U.S. Government and agencies
Fair value, beginning of period	$	1,345,289		$	153,505		$	471,848		$	101,785		$	40,919
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(2,385		)	98			4,112			819			(282		)
Investment related gains (losses), net	5			137			1,247			92			(250		)
Claims & other policy benefits	—			—			—			—			—
Interest credited	—			—			—			—			—
Policy acquisition costs and other insurance expenses	—			—			—			—			—
Included in other comprehensive income	8,536			3,255			6,014			4,674			877
Purchases⁽¹⁾	132,061			32,148			124,108			—			293
Sales⁽¹⁾	(47,676		)	(744		)	(20,870		)	(14,626		)	—
Settlements⁽¹⁾	(100,946		)	(12,573		)	(12,633		)	(542		)	(8,563		)
Transfers into Level 3	6,930			11,464			11,614			5,712			—
Transfers out of Level 3	(53,874		)	(1,743		)	(29,280		)	—			—
Fair value, end of period	$	1,287,940		$	185,547		$	556,160		$	97,914		$	32,994
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(2,336	)	$	94		$	2,005		$	875		$	(282	)
Investment related gains (losses), net	—			—			—			—			—
Claims & other policy benefits	—			—			—			—			—
Interest credited	—			—			—			—			—
Policy acquisition costs and other insurance expenses	—			—			—			—			—



For the six months ended June 30, 2014 (continued):	Fixed maturity securities available-for-sale
	State and political subdivisions			Other foreign government, supranational and foreign government-sponsored enterprises			Funds withheld at interest- embedded derivative			Other invested assets- non-redeemable preferred stock			Interest sensitive contract liabilities embedded derivatives
Fair value, beginning of period	$	43,776		$	37,997		$	(176,270	)	$	4,962		$	(868,725	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	21			—			—			—			—
Investment related gains (losses), net	(8		)	—			156,076			—			(28,844		)
Claims & other policy benefits	—			—			—			—			—
Interest credited	—			—			—			—			(51,125		)
Policy acquisition costs and other insurance expenses	—			—			—			—			—
Included in other comprehensive income	2,443			33			—			—			—
Purchases⁽¹⁾	—			—			—			—			(29,408		)
Sales⁽¹⁾	—			—			—			—			—
Settlements⁽¹⁾	(465		)	(599		)	—			—			37,866
Transfers into Level 3	—			—			—			—			—
Transfers out of Level 3	—			(26,543		)	—			(4,962		)	—
Fair value, end of period	$	45,767		$	10,888		$	(20,194	)	$	—		$	(940,236	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	21		$	—		$	—		$	—		$	—
Investment related gains (losses), net	—			—			156,076			—			(30,156		)
Claims & other policy benefits	—			—			—			—			—
Interest credited	—			—			—			—			(88,991		)
Policy acquisition costs and other insurance expenses	—			—			—			—			—


(1)	The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.

Nonrecurring Fair Value Measurements

The following table presents information for assets measured at estimated fair value on a nonrecurring basis during the periods presented; they are subject to fair value adjustments only in certain circumstances (for example, when there is evidence of impairment). The estimated fair values for these assets were determined using significant unobservable inputs (Level 3).



	Carrying Value After Measurement				Net Investment Gains (Losses)
	At June 30,				Three months ended June 30,						Six months ended June 30,
(dollars in thousands)	2015		2014		2015			2014			2015			2014
Mortgage loans⁽¹⁾	$	5,850	$	15,660	$	(11	)	$	(2,037	)	$	39		$	(1,656	)
Limited partnership interests⁽²⁾	13,667		8,889		—			(4,171		)	(4,509		)	(4,171		)

(1)

Mortgage loans — The impaired mortgage loans presented above were written down to their estimated fair values at the date the impairments were recognized and are reported as losses above. Subsequent improvements in estimated fair value on previously impaired loans recorded through a reduction in the previously established valuation allowance are reported as gains above. Nonrecurring fair value adjustments on mortgage loans are based on the fair value of underlying collateral or discounted cash flows.

(2)

Limited partnership interests — The impaired limited partnership interests presented above were accounted for using the cost method. Impairments on these cost method investments were recognized at estimated fair value determined using the net asset values of the Company’s ownership interest as provided in the financial statements of the investees. The market for these investments has limited activity and price transparency.

Fair Value of Financial Instruments

The Company is required by general accounting principles for Fair Value Measurements and Disclosures to disclose the fair value of certain financial instruments including those that are not carried at fair value. The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments, which were not measured at fair value on a recurring basis, at June 30, 2015 and December 31, 2014 (dollars in thousands). This table excludes any payables or receivables for collateral under repurchase agreements and other transactions. The estimated fair value of the excluded amount approximates carrying value as they equal the amount of cash collateral received/paid.



June 30, 2015:	Carrying Value		Estimated Fair Value		Fair Value Measurement Using:
June 30, 2015:	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
Assets:
Mortgage loans on real estate	$	3,073,313	$	3,147,898	$	—	$	—	$	3,147,898
Policy loans	1,438,156		1,438,156		—		1,438,156		—
Funds withheld at interest⁽¹⁾	5,840,518		6,278,068		—		—		6,278,068
Cash and cash equivalents⁽²⁾	670,624		670,624		670,624		—		—
Short-term investments⁽²⁾	41,385		41,385		41,385		—		—
Other invested assets⁽²⁾	374,351		424,186		4,916		35,006		384,264
Accrued investment income	322,069		322,069		—		322,069		—
Liabilities:
Interest-sensitive contract liabilities⁽¹⁾	$	9,679,250	$	10,083,745	$	—	$	—	$	10,083,745
Long-term debt	2,313,470		2,460,800		—		—		2,460,800
Collateral finance and securitization notes	926,410		832,750		—		—		832,750

December 31, 2014:	Carrying Value		Estimated Fair Value		Fair Value Measurement Using:
December 31, 2014:	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
Assets:
Mortgage loans on real estate	$	2,712,238	$	2,803,942	$	—	$	—	$	2,803,942
Policy loans	1,284,284		1,284,284		—		1,284,284		—
Funds withheld at interest⁽¹⁾	5,897,202		6,367,165		—		—		6,367,165
Cash and cash equivalents⁽²⁾	745,823		745,823		745,823		—		—
Short-term investments⁽²⁾	52,504		52,504		52,504		—		—
Other invested assets⁽²⁾	465,720		518,261		4,674		35,446		478,141
Accrued investment income	261,096		261,096		—		261,096		—
Liabilities:
Interest-sensitive contract liabilities⁽¹⁾	$	9,623,596	$	9,666,240	$	—	$	—	$	9,666,240
Long-term debt	2,314,293		2,518,399		—		—		2,518,399
Collateral finance and securitization notes	782,701		674,984		—		—		674,984


(1)	Carrying values presented herein differ from those presented in the condensed consolidated balance sheets because certain items within the respective financial statement caption are embedded derivatives and are measured at fair value on a recurring basis.


(2)	Carrying values presented herein differ from those presented in the condensed consolidated balance sheets because certain items within the respective financial statement caption are measured at fair value on a recurring basis.

Mortgage Loans on Real Estate – The fair value of mortgage loans on real estate is estimated by discounting cash flows, both principal and interest, using current interest rates for mortgage loans with similar credit ratings and similar remaining maturities. As such, inputs include current treasury yields and spreads, which are based on the credit rating and average life of the loan, corresponding to the market spreads. The valuation of mortgage loans on real estate is considered Level 3 in the fair value hierarchy.

Policy Loans – Policy loans typically carry an interest rate that is adjusted annually based on an observable market index and therefore carrying value approximates fair value. The valuation of policy loans is considered Level 2 in the fair value hierarchy.

Funds Withheld at Interest – The carrying value of funds withheld at interest approximates fair value except where the funds withheld are specifically identified in the agreement. When funds withheld are specifically identified in the agreement, the fair value is based on the fair value of the underlying assets which are held by the ceding company. Ceding companies use a variety of sources and pricing methodologies, which are not transparent to the Company and may include significant unobservable inputs, to value the securities that are held in distinct portfolios, therefore the valuation of these funds withheld assets are considered Level 3 in the fair value hierarchy.

Cash and Cash Equivalents and Short-term Investments – The carrying values of cash and cash equivalents and short-term investments approximates fair values due to the short-term maturities of these instruments and are considered Level 1 in the fair value hierarchy.

Other Invested Assets – This primarily includes limited partnership interests accounted for using the cost method, structured loans, FHLB common stock, cash collateral and equity release mortgages. The fair value of limited partnerships and other investments accounted for using the cost method is determined using the net asset values of the Company’s ownership interest as provided in the financial statements of the investees. The valuation of these investments is considered Level 3 in the fair value hierarchy due to the limited activity and price transparency inherent in the market for such investments. The fair value of structured loans is estimated based on a discounted cash flow analysis using discount rates applicable to each structured loan, this is considered Level 3 in the fair value hierarchy. The fair value of the Company’s common stock investment in the FHLB is considered to be the carrying value and it is considered Level 2 in the fair value hierarchy. The fair value of the Company's cash collateral is considered to be the carrying value and considered to be Level 1 in the fair value hierarchy. The fair value of the Company’s equity release mortgage loan portfolio, considered Level 3 in the fair value hierarchy, is estimated by discounting cash flows, both principal and interest, using current interest rates and credit spread adjustments derived from benchmarking against similar loans, allowing also for United Kingdom house price inflation and actuarial analyses of borrower behavior, mortality and morbidity.

Accrued Investment Income – The carrying value for accrued investment income approximates fair value as there are no adjustments made to the carrying value. This is considered Level 2 in the fair value hierarchy.

Interest-Sensitive Contract Liabilities – The carrying and fair values of interest-sensitive contract liabilities reflected in the table above exclude contracts with significant mortality risk. The fair value of the Company’s interest-sensitive contract liabilities utilizes a market standard technique with both capital market inputs and policyholder behavior assumptions, as well as cash values adjusted for recapture fees. The capital market inputs to the model, such as interest rates, are generally observable. Policyholder behavior assumptions are generally not observable and may require use of significant management judgment. The valuation of interest-sensitive contract liabilities is considered Level 3 in the fair value hierarchy.

Long-term Debt/Collateral Finance and Securitization Notes – The fair value of the Company’s long-term debt and collateral finance and securitization notes is generally estimated by discounting future cash flows using market rates currently available for debt with similar remaining maturities and reflecting the credit risk of the Company, including inputs when available, from actively traded debt of the Company or other companies with similar credit quality. The valuation of long-term debt and collateral finance and securitization notes are generally obtained from brokers and is considered Level 3 in the fair value hierarchy.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Segment Information

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Segment Information

Effective January 1, 2015, the Company further refined its reporting of the Canada; Europe, Middle East and Africa; and Asia Pacific segments into traditional and non-traditional businesses to reflect the expanded product offerings within its geographic-based segments. The Company’s traditional and non-traditional segments are now managed separately and have discrete financial information available that is reviewed regularly by the Company’s chief operating decision maker. The Company has recently experienced growth and opportunity in its non-traditional businesses resulting from its efforts to meet the needs of its clients and adapt to the changing regulatory environment within the insurance industry. The non-traditional business primarily consists of asset-intensive, longevity, financial reinsurance and capital motivated transactions that are sourced and managed by the Company’s Global Financial Solutions unit. The prior period presentation has been adjusted to conform to the new segment reporting structure.

The accounting policies of the segments are the same as those described in the Summary of Significant Accounting Policies in Note 2 of the consolidated financial statements accompanying the 2014 Annual Report. The Company measures segment performance primarily based on profit or loss from operations before income taxes. There are no intersegment reinsurance transactions and the Company does not have any material long-lived assets. Investment income is allocated to the segments based upon average assets and related capital levels deemed appropriate to support the segment business volumes.

The Company allocates capital to its segments based on an internally developed economic capital model, the purpose of which is to measure the risk in the business and to provide a basis upon which capital is deployed. The economic capital model considers the unique and specific nature of the risks inherent in the Company’s businesses. As a result of the economic capital allocation process, a portion of investment income and investment related gains and losses are attributed to the segments based on the level of allocated capital. In addition, the segments are charged for excess capital utilized above the allocated economic capital basis. This charge is included in policy acquisition costs and other insurance expenses.

The Company’s reportable segments are strategic business units that are primarily segregated by geographic region. Information related to revenues, income (loss) before income taxes and total assets of the Company for each reportable segment are summarized below (dollars in thousands).



	Three months ended June 30,				Six months ended June 30,
Total revenues:	2015		2014		2015		2014
U.S. and Latin America:
Traditional	$	1,342,248	$	1,333,027	$	2,597,538	$	2,611,719
Non-Traditional	191,775		293,448		384,448		582,069
Total	1,534,023		1,626,475		2,981,986		3,193,788
Canada:
Traditional	270,090		301,401		535,094		572,845
Non-Traditional	11,458		7,712		23,332		14,017
Total	281,548		309,113		558,426		586,862
Europe, Middle East and Africa:
Traditional	284,192		307,100		579,424		614,850
Non-Traditional	75,308		84,218		130,684		142,325
Total	359,500		391,318		710,108		757,175
Asia Pacific:
Traditional	411,314		465,538		805,189		852,427
Non-Traditional	7,076		17,633		26,646		45,773
Total	418,390		483,171		831,835		898,200
Corporate and Other	36,879		22,943		68,598		54,168
Total	$	2,630,340	$	2,833,020	$	5,150,953	$	5,490,193



	Three months ended June 30,						Six months ended June 30,
Income (loss) before income taxes:	2015			2014			2015			2014
U.S. and Latin America:
Traditional	$	82,793		$	93,988		$	100,636		$	144,960
Non-Traditional	70,393			95,474			124,898			178,598
Total	153,186			189,462			225,534			323,558
Canada:
Traditional	22,736			32,009			45,463			51,442
Non-Traditional	3,094			3,011			7,225			3,642
Total	25,830			35,020			52,688			55,084
Europe, Middle East and Africa:
Traditional	9,159			26,787			19,641			25,795
Non-Traditional	31,432			34,535			51,066			50,732
Total	40,591			61,322			70,707			76,527
Asia Pacific:
Traditional	4,315			28,213			56,963			47,080
Non-Traditional	(1,405		)	6,715			8,740			14,159
Total	2,910			34,928			65,703			61,239
Corporate and Other	(8,727		)	(20,197		)	(16,717		)	(16,433		)
Total	$	213,790		$	300,535		$	397,915		$	499,975



Total Assets:	June 30, 2015		December 31, 2014
U.S. and Latin America:
Traditional	$	15,904,747	$	14,159,824
Non-Traditional	13,854,077		11,572,251
Total	29,758,824		25,732,075
Canada:
Traditional	3,805,372		3,946,942
Non-Traditional	25,348		49,186
Total	3,830,720		3,996,128
Europe, Middle East and Africa:
Traditional	2,586,327		2,514,868
Non-Traditional	2,064,621		2,178,454
Total	4,650,948		4,693,322
Asia Pacific:
Traditional	2,997,342		2,951,723
Non-Traditional	625,125		667,645
Total	3,622,467		3,619,368
Corporate and Other	5,597,312		6,638,718
Total	$	47,460,271	$	44,679,611

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Commitments and Contingent Liabilities

6 Months Ended

Jun. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingent Liabilities

Commitments, Contingencies and Guarantees

Commitments

Funding of Investments

The Company's commitments to fund investments as of June 30, 2015 and December 31, 2014 are presented in the following table (dollars in thousands):



	June 30, 2015		December 31, 2014
Limited partnerships	$	240,386	$	254,314
Commercial mortgage loans	7,100		33,850
Private placements	3,300		—
Bank loans	52,467		52,859
Equity release mortgages	8,383		8,549

The Company anticipates that the majority of its current commitments will be invested over the next five years; however, these commitments could become due any time at the request of the counterparties. Investments in limited partnerships and private placements are carried at cost or reported using the equity method and included in other invested assets in the condensed consolidated balance sheets. Bank loans are carried at fair value and included in fixed maturities available-for-sale. Equity release mortgages are carried at unpaid principal balances, net of any amortized premium or discount and valuation allowance and included in other invested assets.

Letters of Credit

The Company has obtained bank letters of credit in favor of various affiliated and unaffiliated insurance companies from which the Company assumes business. These letters of credit represent guarantees of performance under the reinsurance agreements and allow ceding companies to take statutory reserve credits. Certain of these letters of credit contain financial covenant restrictions. At June 30, 2015 and December 31, 2014, there were approximately $147.2 million and $176.5 million, respectively, of undrawn outstanding bank letters of credit in favor of third parties. Additionally, the Company utilizes letters of credit primarily to secure reserve credits when it retrocedes business to its affiliated subsidiaries. The Company cedes business to its affiliates to help reduce the amount of regulatory capital required in certain jurisdictions such as the U.S. and the United Kingdom. The capital required to support the business in the affiliates reflects a more realistic estimate of capital needed to back the related business. As of June 30, 2015 and December 31, 2014, $1,159.5 million and $1,035.0 million, respectively, in undrawn letters of credit from various banks were outstanding, primarily backing reinsurance between the various subsidiaries of the Company. The banks providing letters of credit to the Company are included on the National Association of Insurance Commissioners (“NAIC”) list of approved banks.

The Company maintains eight credit facilities, a syndicated revolving credit facility with a capacity of $850.0 million, and seven letter of credit facilities with a combined capacity of $806.7 million. The Company may borrow cash and obtain letters of credit in multiple currencies under its syndicated revolving credit facility. The following table provides additional information on the Company’s credit facilities as of June 30, 2015 and December 31, 2014 (dollars in thousands):



			Amount Utilized⁽¹⁾
Facility Capacity		Maturity Date	June 30, 2015		December 31, 2014		Basis of Fees
$	850,000	September 2019	$	401,856	$	204,774	Senior unsecured long-term debt rating
76,310⁽²⁾		November 2015	76,310		74,623		Fixed
120,000		May 2016	80,040		80,040		Fixed
38,535⁽²⁾		May 2016	26,975		28,612		Fixed
150,000		June 2016	130,000		130,000		Fixed
100,000		June 2017	76,029		81,747		Fixed
270,000		November 2017	270,000		270,000		Fixed
51,892⁽²⁾		March 2019	51,892		80,961		Fixed


(1)	Represents issued but undrawn letters of credit. There was no cash borrowed for the periods presented.


(2)	Foreign currency facility, amounts presented are in U.S. dollars.

Contingencies

Litigation

The Company is subject to litigation in the normal course of its business. A legal reserve is established when the Company is notified of an arbitration demand or litigation or is notified that an arbitration demand or litigation is imminent, it is probable that the Company will incur a loss as a result and the amount of the probable loss is reasonably capable of being estimated.

Other

In addition, the Company indemnifies its directors and officers as provided in its charters and by-laws. Since this indemnity generally is not subject to limitation with respect to duration or amount, the Company does not believe that it is possible to determine the maximum potential amount due under this indemnity in the future.

Guarantees

RGA has issued guarantees to third parties on behalf of its subsidiaries for the payment of amounts due under certain securities borrowing arrangements, financing arrangements and office lease obligations, whereby, if a subsidiary fails to meet an obligation, RGA or one of its other subsidiaries will make a payment to fulfill the obligation. Additionally, in limited circumstances, treaty guarantees are granted to ceding companies in order to provide them additional security, particularly in cases where RGA’s subsidiary is relatively new, unrated, or not of a significant size, relative to the ceding company. Liabilities supported by the treaty guarantees, before consideration for any legally offsetting amounts due from the guaranteed party are reflected on the Company’s condensed consolidated balance sheets in future policy benefits. Potential guaranteed amounts of future payments will vary depending on production levels and underwriting results. Guarantees related to borrowed securities provide additional security to third parties should a subsidiary fail to return the borrowed securities when due. RGA’s guarantees issued as of June 30, 2015 and December 31, 2014 are reflected in the following table (dollars in thousands):



	June 30, 2015		December 31, 2014
Treaty guarantees	$	790,455	$	826,496
Treaty guarantees, net of assets in trust	646,422		664,913
Borrowed securities	275,060		201,050
Financing arrangements	100,000		100,000
Lease obligations	5,245		6,085

RGA, through wholly-owned subsidiaries, has committed to provide statutory reserve support to third parties, in exchange for a fee, by funding loans if certain defined events occur. Such statutory reserves are required under the U.S. Valuation of Life Policies Model Regulation (commonly referred to as Regulation XXX for term life insurance policies and Regulation A-XXX for universal life secondary guarantees). The third parties have recourse to RGA should the subsidiary fail to provide the required funding, however, as of June 30, 2015, the Company does not believe that it will be required to provide any funding under these commitments as the occurrence of the defined events is considered remote. The following table presents the maximum potential obligation for these commitments as of June 30, 2015 (dollars in millions):




Commitment Period	June 30, 2015
2023	$	500
2033	950
2034	3,000
2035	500
2036	1,432

Income Tax Income Tax

6 Months Ended

Jun. 30, 2015

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

Income Tax

Provision for income tax expense differed from the amounts computed by applying the U.S. federal income tax statutory rate of 35% to pre-tax income as a result of the following for the three and six months ended June 30, 2015 and 2014 (dollars in thousands):



	Three months ended June 30,						Six months ended June 30,
	2015			2014			2015			2014
Tax provision at U.S. statutory rate	$	74,826		$	105,187		$	139,270		$	174,991
Increase (decrease) in income taxes resulting from:
Foreign tax rate differing from U.S. tax rate	(764		)	(4,676		)	(6,285		)	(7,896		)
Differences in tax bases in foreign jurisdictions	(6,931		)	(3,564		)	(13,601		)	(3,314		)
Deferred tax valuation allowance	4,967			2,510			11,758			(647		)
Amounts related to tax audit contingencies	952			778			1,905			1,556
Subpart F	11,452			3,691			17,886			6,129
Foreign tax credits	(1,104		)	(1,155		)	(3,448		)	(2,010		)
Return to provision adjustments	(212		)	114			(4,977		)	(3,237		)
Other, net	213			(646		)	(98		)	(557		)
Total provision for income taxes	$	83,399		$	102,239		$	142,410		$	165,015
Effective tax rate	39.0		%	34.0		%	35.8		%	33.0		%

The second quarter and first six months of 2015 effective tax rates were higher than the U.S. Statutory rate of 35.0% primarily as a result of a tax accrual related to the Active Financing Exception ("AFE") business extender provision that the U.S. Congress did not pass prior to the end of the quarter and a loss in Australia which has a lower tax rate than the U.S. The high rate was partially offset with income in other jurisdictions with rates lower than the U.S. The second quarter and first six months of 2014 effective tax rates were lower than the U.S. Statutory rate of 35.0% primarily as a result of income in non-U.S. jurisdictions with lower tax rates than the U.S., and the release of a valuation allowance in the first quarter on tax benefits associated with claims experience on certain treaties, which were partially offset by a tax accrual related to the AFE business extender provision that the U.S. Congress did not pass prior to the end of the quarter.

Employee Benefit Plans

6 Months Ended

Jun. 30, 2015

Compensation and Retirement Disclosure [Abstract]

Employee Benefit Plans

The components of net periodic benefit costs for the three and six months ended June 30, 2015 and 2014 were as follows (dollars in thousands):



	Pension Benefits						Other Benefits
	Three months ended June 30,						Three months ended June 30,
	2015			2014			2015		2014
Service cost	$	2,586		$	2,489		$	589	$	470
Interest cost	1,283			1,487			491		339
Expected return on plan assets	(1,331		)	(1,302		)	—		—
Amortization of prior service cost	80			216			—		—
Amortization of prior actuarial loss	833			245			265		217
Net periodic benefit cost	$	3,451		$	3,135		$	1,345	$	1,026



	Pension Benefits						Other Benefits
	Six months ended June 30,						Six months ended June 30,
	2015			2014			2015		2014
Service cost	$	4,616		$	3,990		$	1,178	$	940
Interest cost	2,526			2,295			982		677
Expected return on plan assets	(2,449		)	(2,235		)	—		—
Amortization of prior service cost	163			218			—		—
Amortization of prior actuarial loss	1,272			918			530		434
Net periodic benefit cost	$	6,128		$	5,186		$	2,690	$	2,051

The Company has made $4.0 million in pension contributions during the first six months of 2015, and does not expect to make any additional pension contributions in 2015.

Equity Based Compensation	6 Months Ended
Equity Based Compensation	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity Based Compensation	Equity Based Compensation Equity compensation expense was $3.1 million and $6.4 million in the second quarter of 2015 and 2014, respectively. In the first quarter of 2015, the Company granted 0.3 million stock appreciation rights at $90.06 weighted average exercise price per share and 0.2 million performance contingent units to employees. Additionally, non-employee directors were granted a total of 15,174 shares of common stock. As of June 30, 2015, 1.8 million share options at a weighted average strike price per share of $53.26 were vested and exercisable, with a remaining weighted average exercise period of 4.9 years. As of June 30, 2015, the total compensation cost of non-vested awards not yet recognized in the condensed consolidated financial statements was $36.6 million. It is estimated that these costs will vest over a weighted average period of 2.1 years.

Retrocession Arrangements and Reinsurance Ceded Receivables

6 Months Ended

Jun. 30, 2015

Retrocession Arrangements And Reinsurance Ceded Receivables [Abstract]

Retrocession Arrangements and Reinsurance Ceded Receivables

The Company generally reports retrocession activity on a gross basis. Amounts paid or deemed to have been paid for reinsurance are reflected in reinsurance ceded receivables. The cost of reinsurance related to long-duration contracts is recognized over the terms of the reinsured policies on a basis consistent with the reporting of those policies.

Retrocession reinsurance treaties do not relieve the Company from its obligations to direct writing companies. Failure of retrocessionaires to honor their obligations could result in losses to the Company. Consequently, allowances would be established for amounts deemed uncollectible. At June 30, 2015 and December 31, 2014, no allowances were deemed necessary. The Company regularly evaluates the financial condition of the insurance companies from which it assumes and to which it cedes reinsurance.

Retrocessions are arranged through the Company’s retrocession pools for amounts in excess of the Company’s retention limit. As of June 30, 2015 and December 31, 2014, all rated retrocession pool participants followed by the A.M. Best Company were rated “A- (excellent)” or better. The Company verifies retrocession pool participants’ ratings on a quarterly basis. For a majority of the retrocessionaires that were not rated, security in the form of letters of credit or trust assets has been given as additional security. In addition, the Company performs annual financial reviews of its retrocessionaires to evaluate financial stability and performance. In addition to its third party retrocessionaires, various RGA reinsurance subsidiaries retrocede amounts in excess of their retention to affiliated subsidiaries.

The following table presents information for the Company's reinsurance ceded receivable assets, including the respective amount and A.M. Best rating for each reinsurer representing in excess of five percent of the total as of June 30, 2015 and December 31, 2014 (dollars in thousands):



		June 30, 2015				December 31, 2014
Reinsurer	A.M. Best Rating	Amount		% of Total		Amount		% of Total
Reinsurer A	A+	$	201,915	28.4	%	$	210,996	36.5	%
Reinsurer B	A+	193,294		27.2		45,541		7.9
Reinsurer C	A+	73,148		10.3		74,412		12.9
Reinsurer D	A	45,464		6.4		43,818		7.6
Reinsurer E	A++	43,679		6.1		43,154		7.5
Other reinsurers		153,963		21.6		160,285		27.6
Total		$	711,463	100.0	%	$	578,206	100.0	%

Included in the total reinsurance ceded receivables balance were $260.1 million and $143.0 million of claims recoverable, of which $19.6 million and $10.9 million were in excess of 90 days past due, as of June 30, 2015 and December 31, 2014, respectively. The increase in the Company's reinsurance ceded receivable and claims recoverable are due to a large retrocession transaction with Reinsurer B, as reflected in the table above.

Stock Transactions	6 Months Ended
Stock Transactions	Jun. 30, 2015
Equity [Abstract]
Stock Transactions	Stock Transactions On January 22, 2015, RGA’s board of directors authorized a share repurchase program, with no expiration date, for up to $300.0 million of the RGA’s outstanding common stock. In connection with this authorization, the board of directors terminated the stock repurchase authority granted in 2014. In July 2015, RGA’s board of directors authorized an additional increase of $150.0 million to the share repurchase program previously authorized in January 2015. With these authorizations, the total amount of the Company’s outstanding common stock authorized for repurchase is $450.0 million. During the first quarter of 2015, RGA repurchased 2,538,718 shares of common stock under this program for $230.1 million. The common shares repurchased have been placed into treasury to be used for general corporate purposes. During the second quarter of 2015, RGA repurchased 252,642 shares of common stock under this program for $23.5 million. As of June 30, 2015 there was $46.4 million remaining under the share repurchase authorization, which does not reflect the additional $150.0 million authorization approved by RGA’s board of directors in July 2015.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
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-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-Subparagraph (SAB TOPIC 4.E)
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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 210
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-Subparagraph (SX 210.5-02.29-31)
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.3-04)
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph d
-Article 4

Reference 15: http://www.xbrl.org/2003/role/presentationRef
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-Number 210
-Section 02
-Paragraph 29, 30, 31
-Article 5

Reference 16: http://www.xbrl.org/2003/role/presentationRef
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-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
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Reference 17: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
-Section 08
-Article 4

Reference 18: http://www.xbrl.org/2003/role/presentationRef
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-Section C

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

Acquisition	6 Months Ended
Acquisition	Jun. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Cash Flow, Supplemental Disclosures [Text Block]	Acquisition On April 1, 2015, the Company completed the acquisition of 100% of Aurora National Life Assurance Company’s stock (“Aurora”) from Swiss Re Life & Health America, Inc. ("Swiss Re") pursuant to the stock purchase agreement dated October 20, 2014, between the Company and Swiss Re. The transaction represented an opportunity to deploy capital into a seasoned closed block of business in the U.S. market. The total cash purchase price was $191.5 million , net of cash acquired. Total assets acquired were $3.7 billion, primarily consisting of $3.6 billion of investments, and total liabilities assumed were $3.5 billion . There is no goodwill, including tax deductible goodwill, associated with the acquisition. The business acquired will be recorded in the U.S. and Latin America Traditional and Non-Traditional segments. This acquisition did not have a material impact on the Company's condensed consolidated financial statements, and as a result no proforma disclosures have been presented.

Financing Activities	6 Months Ended
Financing Activities	Jun. 30, 2015
Financing Activities [Abstract]
Financing Receivables [Text Block]	Financing Activities In May 2015, RGA’s subsidiary, RGA Reinsurance Company (Barbados) Ltd. (“RGA Barbados”) obtained CAD$200.0 million of collateral financing from a third party through 2020, enabling RGA Barbados to support collateral requirements for Canadian reinsurance transactions. The obligation is reflected on the condensed consolidated balance sheets in collateral finance and securitization notes. Interest on the collateral financing is payable quarterly and accrues at 3-month Canadian Dealer Offered Rate plus a margin and is reflected on the condensed consolidated statements of income in collateral finance and securitization expense.

New Accounting Standards	6 Months Ended
New Accounting Standards	Jun. 30, 2015
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	New Accounting Standards Changes to the general accounting principles are established by the Financial Accounting Standards Board ("FASB") in the form of accounting standards updates to the FASB Accounting Standards Codification™. Accounting standards updates not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on the Company’s condensed consolidated financial statements. Adoption of New Accounting Standards Income Taxes In July 2013, the FASB amended the general accounting principles for Income Taxes as it relates to the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. This amendment clarifies that an unrecognized tax benefit should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. However, to the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and not combined with deferred tax assets. These amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The adoption of this amendment did not have an impact on the Company's condensed consolidated financial statements. Transfers and Servicing In June 2014, the FASB amended the general accounting principles for Transfers and Servicing as it relates to the accounting for repurchase-to-maturity transactions, repurchase financings, and disclosures. This amendment requires entities to account for repurchase-to-maturity transactions as secured borrowings, eliminates guidance on linked repurchase financing transactions, and expands disclosure requirements related to certain transfers of financial assets that are accounted for as sales and certain transfers accounted for as secured borrowings. These amendments are effective for annual years, and interim periods within those years, beginning after December 15, 2014. Certain interim period disclosures for repurchase agreements and securities lending transactions are not required until the second quarter of 2015. The adoption of this amendment did not have an impact on the Company's condensed consolidated financial statements other than the addition of the required disclosures. Future Adoption of New Accounting Standards Compensation In June 2014, the FASB amended the general accounting principles for Compensation as it relates to the accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. This amendment requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The amendment further clarifies that the performance target should not be reflected in estimating the grant-date fair value of the award and that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved. These amendments are effective for annual years, and interim periods within those years, beginning after December 15, 2015. The Company is currently evaluating the impact of this amendment on its condensed consolidated financial statements. Consolidation In February 2015, the FASB amended the general accounting principle for Consolidation, effective for fiscal years beginning after December 15, 2015 and interim periods within those years and early adoption is permitted. The new standard is intended to improve targeted areas of the consolidation guidance for legal entities such as limited partnerships, limited liability corporations, and securitization structures. The amendments affect the consolidation evaluation for reporting organizations. In addition, the amendments simplify and improve current GAAP by reducing the number of consolidation models. The Company is currently evaluating the impact of this guidance on its condensed consolidated financial statements. Debt Issuance Costs In April 2015, the FASB amended the general accounting principle related to the presentation of Debt Issuance Costs. The amendments in this update require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update. These amendments are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The adoption of this amendment is not expected to have a material impact on the Company’s condensed consolidated financial statements. Fair Value Measurement In May 2015, the FASB amended the general accounting principle for Fair Value Measurement to remove the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. The amendments also remove the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the net asset value per share practical expedient. This ASU is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years and which should be applied retrospectively to all periods presented. The Company is currently evaluating the impact of this guidance on its consolidated financial statements. Financial Services - Insurance In May 2015, the FASB issued Accounting Standards Update (ASU) 2015-09, Disclosures About Short-Duration Contracts, which expanded the breadth of disclosures that an insurance entity must provide about its short-duration insurance contracts. This ASU requires insurance entities to disclose for annual reporting periods information about the liability for unpaid claims and claim adjustment expenses. The ASU also requires insurance entities to disclose information about significant changes in methodologies and assumptions used to calculate the liability for unpaid claims and claim adjustment expenses, including reasons for the change and the effects on the financial statements. In addition, the ASU requires insurance entities to disclose for annual and interim reporting periods a roll-forward of the liability for unpaid claims and claim adjustment expenses. This ASU focuses only on disclosure; it does not change the accounting model for short-duration contracts. The ASU is effective for annual periods beginning after December 15, 2015, and interim periods within annual periods beginning after December 15, 2016. The adoption of this amendment is not expected to have an impact on the Company's consolidated financial statements other than the addition of the required disclosures.

- Definition

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6507316

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Direct Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6510796

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22583-107794

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Indirect Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6515603

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22580-107794

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section S99
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-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6503790

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Glossary Retrospective Application
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 01
-Paragraph b
-Subparagraph 6
-Article 10

+ Details

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

Schedule Of Earnings Per Share Basic And Diluted By Common Class [Text Block]

The following table sets forth the computation of basic and diluted earnings per share on net income (in thousands, except per share information):



	Three months ended June 30,				Six months ended June 30,
	2015		2014		2015		2014
Earnings:
Net income (numerator for basic and diluted calculations)	$	130,391	$	198,296	$	255,505	$	334,960
Shares:
Weighted average outstanding shares (denominator for basic calculation)	66,351		69,076		67,246		69,823
Equivalent shares from outstanding stock options	769		642		785		666
Denominator for diluted calculation	67,120		69,718		68,031		70,489
Earnings per share:
Basic	$	1.97	$	2.87	$	3.80	$	4.80
Diluted	$	1.94	$	2.84	$	3.76	$	4.75

Accumulated Other Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2015

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Components of Accumulated Other Comprehensive Income

The balance of and changes in each component of accumulated other comprehensive income (loss) (“AOCI”) for the six months ended June 30, 2015 and 2014 are as follows (dollars in thousands):



	Accumulated Other Comprehensive Income (Loss), Net of Income Tax
	Accumulated Currency Translation Adjustments			Unrealized Appreciation (Depreciation) of Investments⁽¹⁾			Pension and Postretirement Benefits			Total
Balance, December 31, 2014	$	81,847		$	1,624,773		$	(49,491	)	$	1,657,129
Other comprehensive income (loss) before reclassifications	(89,220		)	(612,314		)	733			(700,801		)
Deferred income tax benefit (expense)	(6,616		)	204,252			(222		)	197,414
Other comprehensive income (loss) before reclassifications, net of income tax	(95,836		)	(408,062		)	511			(503,387		)
Amounts reclassified to (from) AOCI	—			(6,192		)	1,965			(4,227		)
Deferred income tax benefit (expense)	—			537			(688		)	(151		)
Amounts reclassified to (from) AOCI, net of income tax	—			(5,655		)	1,277			(4,378		)
Balance, June 30, 2015	$	(13,989	)	$	1,211,056		$	(47,703	)	$	1,149,364



	Accumulated Other Comprehensive Income (Loss), Net of Income Tax
	Accumulated Currency Translation Adjustments			Unrealized Appreciation (Depreciation) of Investments⁽¹⁾			Pension and Postretirement Benefits			Total
Balance, December 31, 2013	$	207,083		$	820,245		$	(21,721	)	$	1,005,607
Other comprehensive income (loss) before reclassifications	(9,162		)	949,650			(257		)	940,231
Deferred income tax benefit (expense)	9,122			(302,873		)	251			(293,500		)
Other comprehensive income (loss) before reclassifications, net of income tax	(40		)	646,777			(6		)	646,731
Amounts reclassified to (from) AOCI	—			(37,661		)	1,570			(36,091		)
Deferred income tax benefit (expense)	—			12,963			(550		)	12,413
Amounts reclassified to (from) AOCI, net of income tax	—			(24,698		)	1,020			(23,678		)
Balance, June 30, 2014	$	207,043		$	1,442,324		$	(20,707	)	$	1,628,660


(1)	Includes cash flow hedges. See Note 5 - “Derivative Instruments” for additional information on cash flow hedges.

Reclassification Out Of Accumulated Other Comprehensive Income

The following table presents the amounts of AOCI reclassifications for the three and six months ended June 30, 2015 and 2014 (dollars in thousands):



	Amount Reclassified from AOCI
	Three months ended June 30,						Six months ended June 30,
Details about AOCI Components	2015			2014			2015			2014			Affected Line Item in Statement of Income
Unrealized gains and losses on available-for-sale securities	$	1,829		$	27,142		$	4,908		$	28,331		Investment related gains (losses), net
Gains and losses on cash flow hedges	543			321			603			539			Investment income
Gains and losses on cash flow hedges	1,495			—			655			—			Investment related gains (losses), net
Deferred policy acquisition costs attributed to unrealized gains and losses⁽¹⁾	(4,307		)	4,370			26			8,791
Total	(440		)	31,833			6,192			37,661
Provision for income taxes	(245		)	(11,059		)	(537		)	(12,963		)
Net unrealized gains (losses), net of tax	$	(685	)	$	20,774		$	5,655		$	24,698
Amortization of unrealized pension and postretirement benefits:
Prior service cost⁽²⁾	$	(80	)	$	(216	)	$	(163	)	$	(218	)
Actuarial gains/(losses)⁽²⁾	(1,098		)	(462		)	(1,802		)	(1,352		)
Total	(1,178		)	(678		)	(1,965		)	(1,570		)
Provision for income taxes	413			238			688			550
Amortization of unrealized pension and postretirement benefits, net of tax	$	(765	)	$	(440	)	$	(1,277	)	$	(1,020	)

Total reclassifications, net of tax	$	(1,450	)	$	20,334		$	4,378		$	23,678


(1)	This AOCI component is included in the computation of the deferred policy acquisition cost. See Note 8 – “Deferred Policy Acquisition Costs” of the 2014 Annual Report for additional details.


(2)	These AOCI components are included in the computation of the net periodic pension cost. See Note 10 – “Employee Benefit Plans” for additional details.

Investments (Tables)

6 Months Ended

Jun. 30, 2015

Investments [Abstract]

Available For Sale Securities

The following tables provide information relating to investments in fixed maturity and equity securities by sector as of June 30, 2015 and December 31, 2014 (dollars in thousands):



June 30, 2015:	Amortized		Unrealized		Unrealized		Estimated Fair		% of		Other-than- temporary impairments
	Cost		Gains		Losses		Value		Total		in AOCI
Available-for-sale:
Corporate securities	$	16,000,887	$	730,409	$	241,890	$	16,489,406	58.8	%	$	—
Canadian and Canadian provincial governments	2,655,763		1,140,904		2,860		3,793,807		13.5		—
Residential mortgage-backed securities	1,154,732		47,241		11,094		1,190,879		4.2		(300		)
Asset-backed securities	1,051,093		19,915		8,384		1,062,624		3.8		354
Commercial mortgage-backed securities	1,471,419		63,699		9,649		1,525,469		5.4		(1,609		)
U.S. government and agencies	1,332,518		18,149		86,669		1,263,998		4.5		—
State and political subdivisions	478,262		38,891		10,981		506,172		1.8		—
Other foreign government, supranational and foreign government-sponsored enterprises	2,160,658		88,674		17,712		2,231,620		8.0		—
Total fixed maturity securities	$	26,305,332	$	2,147,882	$	389,239	$	28,063,975	100.0	%	$	(1,555	)
Non-redeemable preferred stock	$	91,717	$	2,477	$	3,620	$	90,574	70.9	%
Other equity securities	37,642		434		982		37,094		29.1
Total equity securities	$	129,359	$	2,911	$	4,602	$	127,668	100.0	%



December 31, 2014:	Amortized		Unrealized		Unrealized		Estimated Fair		% of		Other-than- temporary impairments
	Cost		Gains		Losses		Value		Total		in AOCI
Available-for-sale:
Corporate securities	$	14,010,604	$	965,523	$	90,544	$	14,885,583	58.4	%	$	—
Canadian and Canadian provincial governments	2,668,852		1,196,420		7		3,865,265		15.2		—
Residential mortgage-backed securities	991,867		52,640		6,611		1,037,896		4.1		(300		)
Asset-backed securities	1,059,660		20,301		10,375		1,069,586		4.2		354
Commercial mortgage-backed securities	1,453,657		87,593		8,659		1,532,591		6.0		(1,609		)
U.S. government and agencies	501,352		25,014		515		525,851		2.0		—
State and political subdivisions	378,457		51,117		3,498		426,076		1.7		—
Other foreign government, supranational and foreign government-sponsored enterprises	2,041,148		110,065		13,089		2,138,124		8.4		—
Total fixed maturity securities	$	23,105,597	$	2,508,673	$	133,298	$	25,480,972	100.0	%	$	(1,555	)
Non-redeemable preferred stock	$	93,540	$	7,350	$	1,527	$	99,363	78.3	%
Other equity securities	26,994		597		94		27,497		21.7
Total equity securities	$	120,534	$	7,947	$	1,621	$	126,860	100.0	%

Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block]

The following table includes fixed maturity securities pledged and received as collateral, and assets in trust held to satisfy collateral requirements under certain third-party reinsurance treaties as of June 30, 2015 and December 31, 2014 (dollars in thousands):



	June 30, 2015				December 31, 2014
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Fixed maturity securities pledged as collateral	$	181,681	$	190,298	$	127,229	$	134,863
Fixed maturity securities received as collateral	n/a		126,422		n/a		117,227
Securities held in trust	9,948,045		10,501,206		10,197,489		10,922,947

Concentration Risk Disclosure [Text Block]

The Company’s exposure to concentrations of credit risk of single issuers greater than 10% of the Company’s stockholders’ equity included securities of the U.S. government and its agencies as of June 30, 2015, as well as the securities disclosed below as of June 30, 2015 and December 31, 2014 (dollars in thousands).



	June 30, 2015				December 31, 2014
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Fixed maturity securities guaranteed or issued by:
Canadian province of Ontario	$	921,150	$	1,295,793	$	979,908	$	1,359,339
Canadian province of Quebec	1,012,835		1,560,409		1,006,315		1,599,673

Investments Classified By Contractual Maturity Date



	Amortized Cost		Estimated Fair Value
Available-for-sale:
Due in one year or less	$	686,582	$	696,191
Due after one year through five years	4,882,381		5,118,186
Due after five years through ten years	7,920,478		8,213,365
Due after ten years	9,138,647		10,257,261
Asset and mortgage-backed securities	3,677,244		3,778,972
Total	$	26,305,332	$	28,063,975

Fixed Maturity Holdings Industry Types Weighted Average Credit Ratings [Table Text Block]

The tables below show the major industry types of the Company’s corporate fixed maturity holdings as of June 30, 2015 and December 31, 2014 (dollars in thousands):



June 30, 2015:			Estimated
	Amortized Cost		Fair Value		% of Total
Finance	$	5,238,400	$	5,419,421	32.9	%
Industrial	9,057,282		9,281,262		56.2
Utility	1,705,205		1,788,723		10.9
Total	$	16,000,887	$	16,489,406	100.0	%

December 31, 2014:			Estimated
	Amortized Cost		Fair Value		% of Total
Finance	$	4,789,568	$	5,066,408	34.0	%
Industrial	7,639,330		8,086,067		54.3
Utility	1,581,706		1,733,108		11.7
Total	$	14,010,604	$	14,885,583	100.0	%

RollForward Of Cumulative Credit Loss Component Of Otti Income Loss [Text Block]

The following table sets forth the amount of pre-tax credit loss impairments on fixed maturity securities held by the Company as of the dates indicated, for which a portion of the OTTI loss was recognized in AOCI, and the corresponding changes in such amounts (dollars in thousands):



	Three months ended June 30,					Six months ended June 30,
	2015		2014			2015		2014
Balance, beginning of period	$	7,284	$	11,696		$	7,284	$	11,696
Credit loss OTTI previously recognized on securities which matured, paid down, prepaid or were sold during the period	—		(4,412		)	—		(4,412		)
Balance, end of period	$	7,284	$	7,284		$	7,284	$	7,284

Investments In Debt And Equity Securities Gross Unrealized Losses Disclosures



	June 30, 2015				December 31, 2014
	Gross Unrealized Losses		% of Total		Gross Unrealized Losses		% of Total
Less than 20%	$	373,312	94.8	%	$	111,965	83.0	%
20% or more for less than six months	10,201		2.6		13,698		10.1
20% or more for six months or greater	10,328		2.6		9,256		6.9
Total	$	393,841	100.0	%	$	134,919	100.0	%

Fair Value And Investments In Debt And Marketable Equity Securities And Certain Trading Assets Disclosures



	Less than 12 months				12 months or greater				Total
			Gross				Gross				Gross
June 30, 2015:	Estimated		Unrealized		Estimated		Unrealized		Estimated		Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
Investment grade securities:
Corporate securities	$	4,719,168	$	194,881	$	299,379	$	17,451	$	5,018,547	$	212,332
Canadian and Canadian provincial governments	117,996		2,860		—		—		117,996		2,860
Residential mortgage-backed securities	309,772		6,659		64,855		3,772		374,627		10,431
Asset-backed securities	294,220		3,101		126,602		3,504		420,822		6,605
Commercial mortgage-backed securities	220,262		4,376		22,831		1,392		243,093		5,768
U.S. government and agencies	862,953		86,669		—		—		862,953		86,669
State and political subdivisions	157,210		7,399		13,180		3,582		170,390		10,981
Other foreign government, supranational and foreign government-sponsored enterprises	402,345		13,050		33,829		1,988		436,174		15,038
Total investment grade securities	7,083,926		318,995		560,676		31,689		7,644,602		350,684
Below investment grade securities:
Corporate securities	553,615		23,667		58,910		5,891		612,525		29,558
Residential mortgage-backed securities	31,443		268		11,779		395		43,222		663
Asset-backed securities	5,305		84		12,102		1,695		17,407		1,779
Commercial mortgage-backed securities	6,523		534		7,544		3,347		14,067		3,881
Other foreign government, supranational and foreign government-sponsored enterprises	62,974		2,502		3,921		172		66,895		2,674
Total below investment grade securities	659,860		27,055		94,256		11,500		754,116		38,555
Total fixed maturity securities	$	7,743,786	$	346,050	$	654,932	$	43,189	$	8,398,718	$	389,239
Non-redeemable preferred stock	$	39,466	$	2,178	$	6,225	$	1,442	$	45,691	$	3,620
Other equity securities	26,791		982		—		—		26,791		982
Total equity securities	$	66,257	$	3,160	$	6,225	$	1,442	$	72,482	$	4,602



	Less than 12 months				12 months or greater				Total
			Gross				Gross				Gross
December 31, 2014:	Estimated		Unrealized		Estimated		Unrealized		Estimated		Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
Investment grade securities:
Corporate securities	$	1,225,767	$	27,784	$	614,294	$	30,040	$	1,840,061	$	57,824
Canadian and Canadian provincial governments	—		—		1,235		7		1,235		7
Residential mortgage-backed securities	78,864		846		135,414		5,247		214,278		6,093
Asset-backed securities	332,785		4,021		109,411		4,289		442,196		8,310
Commercial mortgage-backed securities	78,632		564		28,375		2,461		107,007		3,025
U.S. government and agencies	81,317		89		32,959		426		114,276		515
State and political subdivisions	13,780		17		18,998		3,438		32,778		3,455
Other foreign government, supranational and foreign government-sponsored enterprises	156,725		7,007		76,111		2,946		232,836		9,953
Total investment grade securities	1,967,870		40,328		1,016,797		48,854		2,984,667		89,182
Below investment grade securities:
Corporate securities	415,886		29,316		32,567		3,404		448,453		32,720
Residential mortgage-backed securities	22,836		293		6,284		225		29,120		518
Asset-backed securities	12,448		274		7,108		1,791		19,556		2,065
Commercial mortgage-backed securities	3,288		249		5,580		5,385		8,868		5,634
State and political subdivisions	964		43		—		—		964		43
Other foreign government, supranational and foreign government-sponsored enterprises	13,986		3,136		—		—		13,986		3,136
Total below investment grade securities	469,408		33,311		51,539		10,805		520,947		44,116
Total fixed maturity securities	$	2,437,278	$	73,639	$	1,068,336	$	59,659	$	3,505,614	$	133,298
Non-redeemable preferred stock	$	11,619	$	235	$	19,100	$	1,292	$	30,719	$	1,527
Other equity securities	—		—		3,545		94		3,545		94
Total equity securities	$	11,619	$	235	$	22,645	$	1,386	$	34,264	$	1,621

Investment Income

Major categories of investment income, net of related expenses, consist of the following (dollars in thousands):



	Three months ended June 30,						Six months ended June 30,
	2015			2014			2015			2014
Fixed maturity securities available-for-sale	$	303,792		$	253,456		$	573,560		$	497,418
Mortgage loans on real estate	37,121			30,373			71,893			63,465
Policy loans	16,248			13,751			30,288			27,189
Funds withheld at interest	87,325			108,059			199,585			220,798
Short-term investments	814			80			1,509			1,045
Other invested assets	22,418			19,021			34,445			33,522
Investment income	467,718			424,740			911,280			843,437
Investment expense	(17,179		)	(14,133		)	(33,850		)	(28,455		)
Investment income, net of related expenses	$	450,539		$	410,607		$	877,430		$	814,982

Gain Loss On Investments

Investment related gains (losses), net consist of the following (dollars in thousands):



	Three months ended June 30,						Six months ended June 30,
	2015			2014			2015			2014
Fixed maturity and equity securities available for sale:
Other-than-temporary impairment losses on fixed maturity securities recognized in earnings	$	(4,137	)	$	(870	)	$	(6,664	)	$	(1,173	)
Gain on investment activity	20,009			34,887			39,210			42,954
Loss on investment activity	(14,475		)	(6,877		)	(28,071		)	(13,460		)
Other impairment losses and change in mortgage loan provision	143			(5,309		)	(4,025		)	(3,645		)
Derivatives and other, net	(17,718		)	96,696			(9,045		)	178,422
Total investment related gains (losses), net	$	(16,178	)	$	118,527		$	(8,595	)	$	203,098

Schedule of Repurchase Agreements [Table Text Block]



	June 30, 2015				December 31, 2014
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Borrowed securities	$	275,060	$	284,602	$	201,050	$	212,946
Repurchase program securities pledged	—		—		92,446		107,158
Repurchase program/reverse repurchase program:
Securities pledged	298,900		313,771		298,466		314,160
Securities received	n/a		340,201		n/a		338,929

Schedule of Underlying Assets of Repurchase Agreements when Amount of Repurchase Agreements Exceeds 10 Percent of Assets [Table Text Block]



	June 30, 2015
	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Up to 30 Days		30-90 Days		Greater than 90 Days		Total
Collateral on repurchase program
U.S. treasury and agency securities	$	—	$	—	$	23,237	$	177,294	$	200,531
Residential mortgage-backed securities	—		—		—		104,144		104,144
Other debt instruments	9,096		—		—		—		9,096
Total borrowings	$	9,096	$	—	$	23,237	$	281,438	$	313,771

Gross amount of recognized liabilities for repurchase agreement in preceding table									$	340,201
Amounts related to agreements not included in offsetting disclosure									$	26,430

Disclosure Of Real Estate Holdings By Property Type [Table Text Block]

The distribution of mortgage loans, gross of valuation allowances, by property type is as follows as of June 30, 2015 and December 31, 2014 (dollars in thousands):



	June 30, 2015				December 31, 2014
Property type:	Recorded Investment		% of Total		Recorded Investment		% of Total
Office building	$	957,724	31.1	%	$	851,749	31.3	%
Retail	964,540		31.4		802,466		29.6
Industrial	535,856		17.4		466,583		17.2
Apartment	410,213		13.3		376,430		13.8
Other commercial	210,922		6.8		221,481		8.1
Total	$	3,079,255	100.0	%	$	2,718,709	100.0	%

Mortgage Loans Classified By Contractual Maturity Date [Table Text Block]

The maturities of the mortgage loans, gross of valuation allowances, as of June 30, 2015 and December 31, 2014 are as follows (dollars in thousands):



	June 30, 2015				December 31, 2014
	Recorded Investment		% of Total		Recorded Investment		% of Total
Due within five years	$	877,270	28.5	%	$	860,362	31.6	%
Due after five years through ten years	1,459,108		47.4		1,165,530		42.9
Due after ten years	742,877		24.1		692,817		25.5
Total	$	3,079,255	100.0	%	$	2,718,709	100.0	%

Mortgage Loan Internal Credit Risk Grade [Table Text Block]



	June 30, 2015				December 31, 2014
Internal credit quality grade:	Recorded Investment		% of Total		Recorded Investment		% of Total
High investment grade	$	1,553,149	50.5	%	$	1,326,199	48.8	%
Investment grade	1,405,901		45.7		1,235,046		45.4
Average	81,284		2.6		118,152		4.4
Watch list	22,036		0.7		22,285		0.8
In or near default	16,885		0.5		17,027		0.6
Total	$	3,079,255	100.0	%	$	2,718,709	100.0	%

Recorded Investment And Allowance For Credit Losses



	June 30, 2015		December 31, 2014
Mortgage loans:
Individually measured for impairment	$	16,885	$	17,027
Collectively measured for impairment	3,062,370		2,701,682
Mortgage loans, gross of valuation allowances	3,079,255		2,718,709
Valuation allowances:
Individually measured for impairment	671		816
Collectively measured for impairment	5,271		5,655
Total valuation allowances	5,942		6,471
Mortgage loans, net of valuation allowances	$	3,073,313	$	2,712,238

Allowance For Mortgage Loan And Lease Losses Provision For Loss Net

Information regarding the Company’s loan valuation allowances for mortgage loans for the three and six months ended June 30, 2015 and 2014 is as follows (dollars in thousands):



	Three months ended June 30,					Six months ended June 30,
	2015			2014		2015			2014
Balance, beginning of period	$	6,130		$	8,466	$	6,471		$	10,106
Charge-offs, net of recoveries	—			—		—			24
Provision (release)	(188		)	1,226		(529		)	(438		)
Balance, end of period	$	5,942		$	9,692	$	5,942		$	9,692

Impaired Financing Receivables Table



	Three months ended June 30,					Six months ended June 30,
	2015			2014		2015			2014
Balance, beginning of period	$	6,130		$	8,466	$	6,471		$	10,106
Charge-offs, net of recoveries	—			—		—			24
Provision (release)	(188		)	1,226		(529		)	(438		)
Balance, end of period	$	5,942		$	9,692	$	5,942		$	9,692

Information regarding the portion of the Company’s mortgage loans that were impaired as of June 30, 2015 and December 31, 2014 is as follows (dollars in thousands):



	Unpaid Principal Balance		Recorded Investment		Related Allowance		Carrying Value
June 30, 2015:
Impaired mortgage loans with no valuation allowance recorded	$	4,414	$	4,354	$	—	$	4,354
Impaired mortgage loans with valuation allowance recorded	13,039		12,531		671		11,860
Total impaired mortgage loans	$	17,453	$	16,885	$	671	$	16,214
December 31, 2014:
Impaired mortgage loans with no valuation allowance recorded	$	7,314	$	6,711	$	—	$	6,711
Impaired mortgage loans with valuation allowance recorded	10,279		10,316		816		9,500
Total impaired mortgage loans	$	17,593	$	17,027	$	816	$	16,211

The Company’s average investment in impaired mortgage loans and the related interest income are reflected in the table below for the periods indicated (dollars in thousands):
	Three months ended June 30,
	2015				2014
	Average Recorded Investment⁽¹⁾		Interest Income		Average Recorded Investment⁽¹⁾		Interest Income
Impaired mortgage loans with no valuation allowance recorded	$	5,524	$	35	$	14,589	$	71
Impaired mortgage loans with valuation allowance recorded	11,397		229		15,855		259
Total impaired mortgage loans	$	16,921	$	264	$	30,444	$	330

	Six months ended June 30,
	2015				2014
	Average Recorded Investment⁽¹⁾		Interest Income		Average Recorded Investment⁽¹⁾		Interest Income
Impaired mortgage loans with no valuation allowance recorded	$	5,920	$	141	$	16,759	$	389
Impaired mortgage loans with valuation allowance recorded	11,036		384		16,151		452
Total impaired mortgage loans	$	16,956	$	525	$	32,910	$	841

(1) Average recorded investment represents the average loan balances as of the beginning of period and all subsequent quarterly end of period balanc

Schedule Of Other Invested Assets [Table Text Block]

Carrying values of these assets as of June 30, 2015 and December 31, 2014 are as follows (dollars in thousands):



	June 30, 2015		December 31, 2014
Equity securities	$	127,668	$	126,860
Limited partnerships and real estate joint ventures	492,465		446,604
Structured loans	52,185		164,309
Derivatives	194,276		216,966
FVO contractholder-directed unit-linked investments	137,529		140,344
Other	105,984		103,236
Total other invested assets	$	1,110,107	$	1,198,319

Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value

The following table presents the notional amounts and gross fair value of derivative instruments prior to taking into account the netting effects of master netting agreements as of June 30, 2015 and December 31, 2014 (dollars in thousands):



	June 30, 2015						December 31, 2014
	Notional		Carrying Value/Fair Value				Notional		Carrying Value/Fair Value
	Amount		Assets		Liabilities		Amount		Assets		Liabilities
Derivatives not designated as hedging instruments:
Interest rate swaps	$	966,658	$	71,399	$	11,025	$	1,144,661	$	93,783	$	3,934
Interest rate options	—		—		—		240,000		18,195		—
Financial futures	313,905		—		—		275,983		—		—
Foreign currency forwards	60,000		129		7,551		67,967		87		15,098
Consumer price index swaps	39,537		34		57		41,938		—		561
Credit default swaps	891,700		11,757		3,937		805,700		11,689		3,502
Equity options	483,830		44,883		—		555,361		35,242		—
Longevity swaps	891,760		10,853		—		450,000		7,727		—
Mortality swaps	50,000		—		1,754		50,000		—		797
Synthetic guaranteed investment contracts	6,594,770		—		—		6,500,942		—		—
Embedded derivatives in:
Modified coinsurance or funds withheld arrangements	—		—		3,329		—		22,094		—
Indexed annuity products	—		—		935,619		—		—		925,887
Variable annuity products	—		—		133,535		—		—		159,279
Total non-hedging derivatives	10,292,160		139,055		1,096,807		10,132,552		188,817		1,109,058
Derivatives designated as hedging instruments:
Interest rate swaps	120,000		—		23,662		120,000		—		18,228
Foreign currency swaps	715,641		88,303		413		676,972		70,906		—
Forward bond purchase commitments	—		—		—		196,452		1,175		14,545
Total hedging derivatives	835,641		88,303		24,075		993,424		72,081		32,773
Total derivatives	$	11,127,801	$	227,358	$	1,120,882	$	11,125,976	$	260,898	$	1,141,831

Offsetting Assets And Liabilities

The following table provides information relating to the Company’s derivative instruments as of June 30, 2015 and December 31, 2014 (dollars in thousands):



								Gross Amounts Not Offset in the Balance Sheet
	Gross Amounts Recognized		Gross Amounts Offset in the Balance Sheet			Net Amounts Presented in the Balance Sheet		Financial Instruments			Cash Collateral Pledged/ Received			Net Amount
June 30, 2015:
Derivative assets	$	227,358	$	(22,230	)	$	205,128	$	(15,587	)	$	(160,768	)	$	28,773
Derivative liabilities	48,399		(22,230		)	26,169		(54,692		)	(4,940		)	(33,463		)
December 31, 2014:
Derivative assets	$	238,804	$	(14,111	)	$	224,693	$	(20,260	)	$	(178,141	)	$	26,292
Derivative liabilities	56,665		(14,111		)	42,554		(47,222		)	—			(4,668		)

The Company has elected to include all derivatives, except embedded derivatives, in the tables below, irrespective of whether the

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]



	Three months ended June 30,
	2015			2014
Accumulated other comprehensive income (loss), balance beginning of period	$	(30,598	)	$	(4,020	)
Gains (losses) deferred in other comprehensive income (loss) on the effective portion of cash flow hedges	8,735			4,798
Amounts reclassified to investment related gains (losses), net	(1,495		)	—
Amounts reclassified to investment income	(543		)	(321		)
Accumulated other comprehensive income (loss), balance end of period	$	(23,901	)	$	457

	Six months ended June 30,
	2015			2014
Accumulated other comprehensive income (loss), balance beginning of period	$	(31,591	)	$	(4,578	)
Gains (losses) deferred in other comprehensive income (loss) on the effective portion of cash flow hedges	8,948			5,574
Amounts reclassified to investment related gains (losses), net	(655		)	—
Amounts reclassified to investment income	(603		)	(539		)
Accumulated other comprehensive income (loss), balance end of period	$	(23,901	)	$	457

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]



	Effective Portion						Ineffective Portion
Derivative Type	Gain (Loss) Recognized in OCI			Gain (Loss) Reclassified into Income from OCI		Classification of Gain (Loss) Reclassified into Net Income	Gain (Loss) Recognized in Income		Classification of Gain (Loss) Recognized in Net Income
For the three months ended June 30, 2015:
Interest rate swaps	$	2,417		$	231	Investment Income	$	—	Investment related gains (losses)
Forward bond purchase commitments:
Principal	6,318			1,495		Investment related gains (losses)	—		Investment related gains (losses)
Interest	—			312		Investment Income	—		Investment related gains (losses)
Total	$	8,735		$	2,038		$	—
For the three months ended June 30, 2014:
Interest rate swaps	$	4,798		$	321	Investment Income	$	7	Investment related gains (losses)

For the six months ended June 30, 2015:
Interest rate swaps	$	(5,150	)	$	291	Investment Income	$	7	Investment related gains (losses)
Forward bond purchase commitments:
Principal	14,098			655		Investment related gains (losses)	—		Investment related gains (losses)
Interest	—			312		Investment Income	—		Investment related gains (losses)
Total	$	8,948		$	1,258		$	7
For the six months ended June 30, 2014:
Interest rate swaps	$	5,574		$	539	Investment Income	$	1	Investment related gains (losses)

Derivatives Hedging Instruments In Net Investment Hedging Relationships

The following table illustrates the Company’s net investments in foreign operations (“NIFO”) hedges for the three and six months ended June 30, 2015 and 2014 (dollars in thousands):



	Derivative Gains (Losses) Deferred in AOCI
	For the three months ended June 30,						For the six months ended June 30,
Type of NIFO Hedge ^{(1) (2)}	2015			2014			2015		2014
Foreign currency swaps	$	(12,945	)	$	(22,335	)	$	37,021	$	744


(1)	There were no sales or substantial liquidations of net investments in foreign operations that would have required the reclassification of gains or losses from accumulated other comprehensive income (loss) into investment income during the periods presented.


(2)	There was no ineffectiveness recognized for the Company’s hedges of net investments in foreign operations.

Derivative Instruments Gain Loss By Income Statement Location



		Gain (Loss) for the three months ended June 30,
Type of Non-hedging Derivative	Income Statement Location of Gain (Loss)	2015			2014
Interest rate swaps	Investment related gains (losses), net	$	(41,729	)	$	22,251
Interest rate options	Investment related gains (losses), net	—			2,004
Financial futures	Investment related gains (losses), net	(2,183		)	(7,684		)
Foreign currency forwards	Investment related gains (losses), net	(1,433		)	1,178
CPI swaps	Investment related gains (losses), net	168			114
Credit default swaps	Investment related gains (losses), net	(187		)	4,783
Equity options	Investment related gains (losses), net	(2,606		)	(8,800		)
Longevity swaps	Other revenues	1,911			—
Mortality swaps	Other revenues	(478		)	—
Subtotal		(46,537		)	13,846
Embedded derivatives in:
Modified coinsurance or funds withheld arrangements	Investment related gains (losses), net	(23,098		)	78,835
Indexed annuity products	Interest credited	8,080			(27,285		)
Variable annuity products	Investment related gains (losses), net	50,878			(5,183		)
Total non-hedging derivatives		$	(10,677	)	$	60,213

		Gain (Loss) for the six months ended June 30,
Type of Non-hedging Derivative	Income Statement Location of Gain (Loss)	2015			2014
Interest rate swaps	Investment related gains (losses), net	$	(12,385	)	$	51,904
Interest rate options	Investment related gains (losses), net	3,275			3,286
Financial futures	Investment related gains (losses), net	(9,514		)	(9,268		)
Foreign currency forwards	Investment related gains (losses), net	(1,653		)	2,332
CPI swaps	Investment related gains (losses), net	97			467
Credit default swaps	Investment related gains (losses), net	2,471			2,669
Equity options	Investment related gains (losses), net	(10,672		)	(17,765		)
Longevity swaps	Other revenues	3,731			—
Mortality swaps	Other revenues	(957		)	—
Subtotal		(25,607		)	33,625
Embedded derivatives in:
Modified coinsurance or funds withheld arrangements	Investment related gains (losses), net	(25,423		)	156,076
Indexed annuity products	Interest credited	(21,246		)	(51,125		)
Variable annuity products	Investment related gains (losses), net	25,745			(28,844		)
Total non-hedging derivatives		$	(46,531	)	$	109,732

Disclosure Of Credit Derivatives



	June 30, 2015						December 31, 2014
Rating Agency Designation of Referenced Credit Obligations⁽¹⁾	Estimated Fair Value of Credit Default Swaps			Maximum Amount of Future Payments under Credit Default Swaps⁽²⁾		Weighted Average Years to Maturity⁽³⁾	Estimated Fair Value of Credit Default Swaps			Maximum Amount of Future Payments under Credit Default Swaps⁽²⁾		Weighted Average Years to Maturity⁽³⁾
AAA/AA-/A+/A/A-
Single name credit default swaps	$	2,250		$	189,500	4.6	$	1,498		$	167,500	4.6
Credit default swaps referencing indices	—			—		—	—			—		—
Subtotal	2,250			189,500		4.6	1,498			167,500		4.6
BBB+/BBB/BBB-
Single name credit default swaps	(182		)	281,200		4.8	168			217,200		4.9
Credit default swaps referencing indices	5,923			416,000		5.0	6,651			416,000		5.0
Subtotal	5,741			697,200		4.9	6,819			633,200		4.9
BB+
Single name credit default swaps	(171		)	5,000		4.0	(130		)	5,000		4.5
Credit default swaps referencing indices	—			—		—	—			—		—
Subtotal	(171		)	5,000		4.0	(130		)	5,000		4.5
Total	$	7,820		$	891,700	4.8	$	8,187		$	805,700	4.9


(1)	The rating agency designations are based on ratings from Standard and Poor’s (“S&P”).


(2)	Assumes the value of the referenced credit obligations is zero.


(3)	The weighted average years to maturity of the credit default swaps is calculated based on weighted average notional amounts.

Changes In Estimated Fair Value Related To Embedded Derivatives

The related gains (losses) and the effect on net income after amortization of deferred acquisition costs (“DAC”) and income taxes for the three and six months ended June 30, 2015 and 2014 are reflected in the following table (dollars in thousands):



	Three months ended June 30,						Six months ended June 30,
	2015			2014			2015			2014
Embedded derivatives in modco or funds withheld arrangements included in investment related gains	$	(23,098	)	$	78,835		$	(25,423	)	$	156,076
After the associated amortization of DAC and taxes, the related amounts included in net income	(3,917		)	17,962			(6,504		)	36,042
Embedded derivatives in variable annuity contracts included in investment related gains	50,878			(5,183		)	25,745			(28,844		)
After the associated amortization of DAC and taxes, the related amounts included in net income	19,608			(6,486		)	10,198			(20,154		)
Amounts related to embedded derivatives in equity-indexed annuities included in benefits and expenses	8,080			(27,285		)	(21,246		)	(51,125		)
After the associated amortization of DAC and taxes, the related amounts included in net income	1,233			(15,600		)	(14,766		)	(33,976		)

Credit Risk

Information regarding the Company’s credit exposure related to its over-the-counter derivative contracts, centrally cleared derivative contracts and margin account for exchange-traded futures, excluding longevity and mortality swaps, at June 30, 2015 and December 31, 2014 are reflected in the following table (dollars in thousands):



	June 30, 2015			December 31, 2014
Estimated fair value of derivatives in net asset position	$	169,860		$	175,209
Cash provided as collateral⁽¹⁾	4,940			—
Securities pledged to counterparties as collateral⁽²⁾	54,692			47,222
Cash pledged from counterparties as collateral⁽³⁾	(160,768		)	(178,141		)
Securities pledged from counterparties as collateral⁽⁴⁾	(15,587		)	(20,260		)
Initial margin for cleared derivatives⁽²⁾	(31,960		)	(16,333		)
Net credit exposure	$	21,177		$	7,697
Margin account related to exchange-traded futures⁽⁵⁾	$	6,283		$	7,976


(1)	Consists of receivable from counterparty, included in other assets.


(2)	Included in available-for-sale securities, primarily consists of U.S. Treasury securities.


(3)	Included in cash and cash equivalents, with obligation to return cash collateral recorded in other liabilities.


(4)	Consists of U.S. Treasury securities.


(5)	Included in cash and cash equivalents.

Fair Value of Assets and Liabilities Fair Value of Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Schedule Of Fair Value Assets and Liabilities Measured on Recurring Basis Table Text Block

Assets and liabilities measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014 are summarized below (dollars in thousands):



June 30, 2015:				Fair Value Measurements Using:
	Total			Level 1		Level 2			Level 3
Assets:
Fixed maturity securities – available-for-sale:
Corporate securities	$	16,489,406		$	157,790	$	15,094,299		$	1,237,317
Canadian and Canadian provincial governments	3,793,807			—		3,793,807			—
Residential mortgage-backed securities	1,190,879			—		892,503			298,376
Asset-backed securities	1,062,624			—		482,114			580,510
Commercial mortgage-backed securities	1,525,469			—		1,447,650			77,819
U.S. government and agencies	1,263,998			1,111,189		125,450			27,359
State and political subdivisions	506,172			—		465,986			40,186
Other foreign government supranational and foreign government-sponsored enterprises	2,231,620			268,042		1,948,921			14,657
Total fixed maturity securities – available-for-sale	28,063,975			1,537,021		24,250,730			2,276,224
Funds withheld at interest – embedded derivatives	(3,329		)	—		—			(3,329		)
Cash equivalents	665,037			665,037		—			—
Short-term investments	34,733			20,896		13,837			—
Other invested assets:
Non-redeemable preferred stock	90,574			78,186		—			12,388
Other equity securities	37,094			37,094		—			—
Derivatives:
Interest rate swaps	52,864			—		52,864			—
CPI swaps	(23		)	—		(23		)	—
Credit default swaps	8,248			—		8,248			—
Equity options	44,883			—		44,883			—
Foreign currency swaps	88,303			—		88,303			—
FVO contractholder-directed unit-linked investments	137,529			132,870		4,659			—
Other	9,852			9,852		—			—
Total other invested assets	469,324			258,002		198,934			12,388
Other assets – longevity swaps	10,853			—		—			10,853
Total	$	29,240,593		$	2,480,956	$	24,463,501		$	2,296,136
Liabilities:
Interest sensitive contract liabilities – embedded derivatives	$	1,069,154		$	—	$	—		$	1,069,154
Other liabilities:
Derivatives:
Interest rate swaps	16,152			—		16,152			—
Foreign currency forwards	7,422			—		7,422			—
Credit default swaps	428			—		428			—
Foreign currency swaps	413			—		413			—
Mortality swaps	1,754			—		—			1,754
Total	$	1,095,323		$	—	$	24,415		$	1,070,908



December 31, 2014:				Fair Value Measurements Using:
	Total			Level 1		Level 2			Level 3
Assets:
Fixed maturity securities – available-for-sale:
Corporate securities	$	14,885,583		$	115,822	$	13,459,334		$	1,310,427
Canadian and Canadian provincial governments	3,865,265			—		3,865,265			—
Residential mortgage-backed securities	1,037,896			—		849,802			188,094
Asset-backed securities	1,069,586			—		496,626			572,960
Commercial mortgage-backed securities	1,532,591			—		1,445,845			86,746
U.S. government and agencies	525,851			437,129		60,193			28,529
State and political subdivisions	426,076			—		383,365			42,711
Other foreign government, supranational and foreign government-sponsored enterprises	2,138,124			285,995		1,832,466			19,663
Total fixed maturity securities – available-for-sale	25,480,972			838,946		22,392,896			2,249,130
Funds withheld at interest – embedded derivatives	22,094			—		—			22,094
Cash equivalents	899,846			899,846		—			—
Short-term investments	45,190			21,536		23,654			—
Other invested assets:
Non-redeemable preferred stock	99,363			91,450		9			7,904
Other equity securities	27,497			27,497		—			—
Derivatives:
Interest rate swaps	84,578			—		84,578			—
Interest rate options	18,195			—		18,195			—
CPI swaps	(561		)	—		(561		)	—
Credit default swaps	8,606			—		8,606			—
Equity options	35,242			—		35,242			—
Foreign currency swaps	70,906			—		70,906			—
FVO contractholder-directed unit-linked investments	140,344			134,749		5,595			—
Other	6,420			6,420		—			—
Total other invested assets	490,590			260,116		222,570			7,904
Other assets - longevity swaps	7,727			—		—			7,727
Total	$	26,946,419		$	2,020,444	$	22,639,120		$	2,286,855
Liabilities:
Interest sensitive contract liabilities – embedded derivatives	$	1,085,166		$	—	$	—		$	1,085,166
Other liabilities:
Derivatives:
Interest rate swaps	12,957			—		12,957			—
Foreign currency forwards	15,011			—		15,011			—
Credit default swaps	419			—		419			—
Forward purchase commitments	13,370			—		13,370			—
Mortality swaps	797			—		—			797
Total	$	1,127,720		$	—	$	41,757		$	1,085,963

Fair Value Unobservable Input Measurements [Table Text Block]



June 30, 2015:				Valuation Technique	Unobservable Inputs	Range (Weighted Average)
June 30, 2015:	Fair Value			Valuation Technique	Unobservable Inputs	Range (Weighted Average)
Assets:
State and political subdivision securities	$	4,817		Market comparable securities	Liquidity premium	1	%
Corporate securities	205,003			Market comparable securities	Liquidity premium	0-2% (1%)
U.S. government and agencies securities	27,359			Market comparable securities	Liquidity premium	0-1% (1%)
Funds withheld at interest- embedded derivatives	(3,329		)	Total return swap	Mortality	0-100% (2%)
					Lapse	0-35% (8%)
					Withdrawal	0-5% (3%)
					CVA	0-5% (1%)
					Crediting rate	2-4% (3%)
Longevity swaps	10,853			Discounted cash flow	Mortality	0-100% (2%)
					Mortality improvement	(10%)-10% (3%)
Liabilities:
Interest sensitive contract liabilities- embedded derivatives- indexed annuities	935,619			Discounted cash flow	Mortality	0-100% (2%)
					Lapse	0-35% (8%)
					Withdrawal	0-5% (3%)
					Option budget projection	2-4% (3%)

Interest sensitive contract liabilities- embedded derivatives- variable annuities	133,535			Discounted cash flow	Mortality	0-100% (2%)
					Lapse	0-25% (9%)
					Withdrawal	0-7% (3%)
					CVA	0-5% (1%)
					Long-term volatility	0-27% (14%)
Mortality swaps	1,754			Discounted cash flow	Mortality	0-100% (1%)

December 31, 2014:

Fair Value

Valuation Technique(s)

Unobservable Input

Range (Weighted Average)

Assets:

State and political subdivision securities

4,994

Market comparable

securities

Liquidity premium

Corporate securities

205,392

Market comparable

securities

Liquidity premium

0-2% (1%)

U.S. government and agencies securities

28,530

Market comparable

securities

Liquidity premium

0-1% (1%)

Funds withheld at interest- embedded derivatives

22,094

Total return swap

Mortality

0-100% (2%)

Lapse

0-35% (7%)

Withdrawal

0-5% (3%)

CVA

0-5% (1%)

Crediting rate

2-4% (3%)

Longevity swaps

7,727

Discounted cash flow

Mortality

0-100% (2%)

Mortality improvement

(10%)-10% (3%)

Liabilities:

Interest sensitive contract liabilities- embedded derivatives- indexed annuities

925,887

Discounted cash flow

Mortality

0-100% (2%)

Lapse

0-35% (7%)

Withdrawal

0-5% (3%)

Option budget projection

2-4% (3%)

Interest sensitive contract liabilities- embedded derivatives- variable annuities

159,279

Discounted cash flow

Mortality

0-100% (2%)

Lapse

0-25% (8%)

Withdrawal

0-7% (3%)

CVA

0-5% (1%)

Long-term volatility

0-27% (11%)

Mortality swaps

797

Discounted cash flow

Mortality

0-100% (1%)

Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block]



June 30, 2015:				Valuation Technique	Unobservable Inputs	Range (Weighted Average)
June 30, 2015:	Fair Value			Valuation Technique	Unobservable Inputs	Range (Weighted Average)
Assets:
State and political subdivision securities	$	4,817		Market comparable securities	Liquidity premium	1	%
Corporate securities	205,003			Market comparable securities	Liquidity premium	0-2% (1%)
U.S. government and agencies securities	27,359			Market comparable securities	Liquidity premium	0-1% (1%)
Funds withheld at interest- embedded derivatives	(3,329		)	Total return swap	Mortality	0-100% (2%)
					Lapse	0-35% (8%)
					Withdrawal	0-5% (3%)
					CVA	0-5% (1%)
					Crediting rate	2-4% (3%)
Longevity swaps	10,853			Discounted cash flow	Mortality	0-100% (2%)
					Mortality improvement	(10%)-10% (3%)
Liabilities:
Interest sensitive contract liabilities- embedded derivatives- indexed annuities	935,619			Discounted cash flow	Mortality	0-100% (2%)
					Lapse	0-35% (8%)
					Withdrawal	0-5% (3%)
					Option budget projection	2-4% (3%)

Interest sensitive contract liabilities- embedded derivatives- variable annuities	133,535			Discounted cash flow	Mortality	0-100% (2%)
					Lapse	0-25% (9%)
					Withdrawal	0-7% (3%)
					CVA	0-5% (1%)
					Long-term volatility	0-27% (14%)
Mortality swaps	1,754			Discounted cash flow	Mortality	0-100% (1%)

December 31, 2014:

Fair Value

Valuation Technique(s)

Unobservable Input

Range (Weighted Average)

Assets:

State and political subdivision securities

4,994

Market comparable

securities

Liquidity premium

Corporate securities

205,392

Market comparable

securities

Liquidity premium

0-2% (1%)

U.S. government and agencies securities

28,530

Market comparable

securities

Liquidity premium

0-1% (1%)

Funds withheld at interest- embedded derivatives

22,094

Total return swap

Mortality

0-100% (2%)

Lapse

0-35% (7%)

Withdrawal

0-5% (3%)

CVA

0-5% (1%)

Crediting rate

2-4% (3%)

Longevity swaps

7,727

Discounted cash flow

Mortality

0-100% (2%)

Mortality improvement

(10%)-10% (3%)

Liabilities:

Interest sensitive contract liabilities- embedded derivatives- indexed annuities

925,887

Discounted cash flow

Mortality

0-100% (2%)

Lapse

0-35% (7%)

Withdrawal

0-5% (3%)

Option budget projection

2-4% (3%)

Interest sensitive contract liabilities- embedded derivatives- variable annuities

159,279

Discounted cash flow

Mortality

0-100% (2%)

Lapse

0-25% (8%)

Withdrawal

0-7% (3%)

CVA

0-5% (1%)

Long-term volatility

0-27% (11%)

Mortality swaps

797

Discounted cash flow

Mortality

0-100% (1%)

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Level Transfers [Table Text Block]

The following tables present the transfers between Level 1 and Level 2 during the three and six months ended June 30, 2015 and 2014 (dollars in thousands):



	2015				2014
	Transfers from Level 1 to Level 2		Transfers from Level 2 to Level 1		Transfers from Level 1 to Level 2		Transfers from Level 2 to Level 1
Three months ended June 30:
Fixed maturity securities - available-for-sale:
Corporate securities	$	—	$	31,896	$	—	$	10,058

Six months ended June 30:
Fixed maturity securities - available-for-sale:
Corporate securities	$	625	$	36,996	$	—	$	10,058

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]



For the three months ended June 30, 2015:	Fixed maturity securities - available-for-sale
	Corporate securities			Residential mortgage- backed securities			Asset-backed securities			Commercial mortgage- backed securities			U.S. government and agencies			State and political subdivisions
Fair value, beginning of period	$	1,286,979		$	192,579		$	609,436		$	93,869		$	27,756		$	41,875
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(1,051		)	(156		)	1,511			677			112			8
Investment related gains (losses), net	(166		)	17			283			(770		)	(10		)	(5		)
Claims & other policy benefits	—			—			—			—			—			—
Interest credited	—			—			—			—			—			—
Policy acquisition costs and other insurance expenses	—			—			—			—			—			—
Included in other comprehensive income	(16,902		)	(1,291		)	(301		)	(386		)	(559		)	(1,480		)
Purchases⁽¹⁾	76,982			118,868			44,181			42			154			—
Sales⁽¹⁾	(3,949		)	—			(1,615		)	(2,000		)	—			—
Settlements⁽¹⁾	(103,696		)	(8,617		)	(63,751		)	(893		)	(94		)	(212		)
Transfers into Level 3	413			1,800			—			—			—			—
Transfers out of Level 3	(1,293		)	(4,824		)	(9,234		)	(12,720		)	—			—
Fair value, end of period	$	1,237,317		$	298,376		$	580,510		$	77,819		$	27,359		$	40,186
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(997	)	$	(156	)	$	706		$	640		$	112		$	8
Investment related gains (losses), net	—			—			—			—			—			—
Claims & other policy benefits	—			—			—			—			—			—
Interest credited	—			—			—			—			—			—
Policy acquisition costs and other insurance expenses	—			—			—			—			—			—



For the three months ended June 30, 2015 (continued):	Fixed maturity securities available-for-sale
	Other foreign government, supranational and foreign government-sponsored enterprises			Funds withheld at interest- embedded derivatives			Other invested assets - non-redeemable preferred stock			Other assets longevity swaps		Interest sensitive contract liabilities embedded derivatives			Other liabilities mortality swaps
Fair value, beginning of period	$	15,202		$	19,769		$	7,992		$	8,602	$	(1,132,271	)	$	(1,276	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	—			—			—			—		—			—
Investment related gains (losses), net	—			(23,098		)	—			—		50,878			—
Claims & other policy benefits	—			—			—			—		—			—
Interest credited	—			—			—			—		8,080			—
Policy acquisition costs and other insurance expenses	—			—			—			—		—			—
Included in other comprehensive income	(232		)	—			(104		)	340		—			—
Other revenues	—			—			—			1,911		—			(478		)
Purchases⁽¹⁾	—			—			4,500			—		(13,924		)	—
Sales⁽¹⁾	—			—			—			—		—			—
Settlements⁽¹⁾	(313		)	—			—			—		18,083			—
Transfers into Level 3	—			—			—			—		—			—
Transfers out of Level 3	—			—			—			—		—			—
Fair value, end of period	$	14,657		$	(3,329	)	$	12,388		$	10,853	$	(1,069,154	)	$	(1,754	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	—		$	—		$	—		$	—	$	—		$	—
Investment related gains (losses), net	—			(23,098		)	—			—		48,603			—
Other revenues	—			—			—			1,911		—			(478		)
Claims & other policy benefits	—			—			—			—		—			—
Interest credited	—			—			—			—		(10,003		)	—
Policy acquisition costs and other insurance expenses	—			—			—			—		—			—



For the six months ended June 30, 2015:	Fixed maturity securities - available-for-sale
	Corporate securities			Residential mortgage- backed securities			Asset-backed securities			Commercial mortgage- backed securities			U.S. government and agencies			State and political subdivisions
Fair value, beginning of period	$	1,310,427		$	188,094		$	572,960		$	86,746		$	28,529		$	42,711
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(1,854		)	(296		)	2,930			1,271			93			15
Investment related gains (losses), net	(571		)	(65		)	356			(683		)	(117		)	(9		)
Claims & other policy benefits	—			—			—			—			—			—
Interest credited	—			—			—			—			—			—
Policy acquisition costs and other insurance expenses	—			—			—			—			—			—
Included in other comprehensive income	(10,833		)	(768		)	3,331			(696		)	(383		)	(1,455		)
Purchases⁽¹⁾	113,882			130,307			85,172			42			275			—
Sales⁽¹⁾	(3,949		)	(714		)	(8,971		)	(2,956		)	—			—
Settlements⁽¹⁾	(163,296		)	(14,336		)	(67,873		)	(6,013		)	(1,038		)	(241		)
Transfers into Level 3	413			2,400			9,055			12,828			—			—
Transfers out of Level 3	(6,902		)	(6,246		)	(16,450		)	(12,720		)	—			(835		)
Fair value, end of period	$	1,237,317		$	298,376		$	580,510		$	77,819		$	27,359		$	40,186
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(1,800	)	$	(297	)	$	2,105		$	1,229		$	93		$	15
Investment related gains (losses), net	—			—			—			—			—			—
Claims & other policy benefits	—			—			—			—			—			—
Interest credited	—			—			—			—			—			—
Policy acquisition costs and other insurance expenses	—			—			—			—			—			—



For the six months ended June 30, 2015 (continued):	Fixed maturity securities available-for-sale
	Other foreign government, supranational and foreign government-sponsored enterprises			Funds withheld at interest- embedded derivatives			Other invested assets - non-redeemable preferred stock			Other assets longevity swaps			Interest sensitive contract liabilities embedded derivatives			Other liabilities mortality swaps
Fair value, beginning of period	$	19,663		$	22,094		$	7,904		$	7,727		$	(1,085,166	)	$	(797	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	—			—			—			—			—			—
Investment related gains (losses), net	—			(25,423		)	—			—			25,745			—
Claims & other policy benefits	—			—			—			—			—			—
Interest credited	—			—			—			—			—			—
Policy acquisition costs and other insurance expenses	—			—			—			—			(21,246		)	—
Included in other comprehensive income	(50		)	—			(16		)	(605		)	—			—
Other revenues	—			—			—			3,731			—			(957		)
Purchases⁽¹⁾	—			—			4,529			—			(25,568		)	—
Sales⁽¹⁾	—			—			—			—			—			—
Settlements⁽¹⁾	(623		)	—			—			—			—			—
Transfers into Level 3	—			—			—			—			37,081			—
Transfers out of Level 3	(4,333		)	—			(29		)	—			—			—
Fair value, end of period	$	14,657		$	(3,329	)	$	12,388		$	10,853		$	(1,069,154	)	$	(1,754	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	—		$	—		$	—		$	—		$	—		$	—
Investment related gains (losses), net	—			(25,423		)	—			—			20,358			—
Other revenues	—			—			—			3,731			—			(957		)
Claims & other policy benefits	—			—			—			—			—			—
Interest credited	—			—			—			—			(58,327		)	—
Policy acquisition costs and other insurance expenses	—			—			—			—			—			—


(1)	The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.



For the three months ended June 30, 2014:	Fixed maturity securities - available-for-sale
	Corporate securities			Residential mortgage-backed securities			Asset-backed securities			Commercial mortgage-backed securities			U.S. government and agencies
Fair value, beginning of period	$	1,291,701		$	177,927		$	502,675		$	90,373		$	38,031
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(1,273		)	42			2,055			447			(185		)
Investment related gains (losses), net	165			31			942			6			(55		)
Claims & other policy benefits	—			—			—			—			—
Interest credited	—			—			—			—			—
Policy acquisition costs and other insurance expenses	—			—			—			—			—
Included in other comprehensive income	6,086			368			514			1,639			572
Purchases ⁽¹⁾	52,549			13,398			64,884			—			165
Sales⁽¹⁾	(8,929		)	—			(14,258		)	—			—
Settlements⁽¹⁾	(49,002		)	(6,401		)	(6,318		)	(263		)	(5,534		)
Transfers into Level 3	—			901			5,666			5,712			—
Transfers out of Level 3	(3,357		)	(719		)	—			—			—
Fair value, end of period	$	1,287,940		$	185,547		$	556,160		$	97,914		$	32,994
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(1,274	)	$	42		$	2,005		$	447		$	(185	)
Investment related gains (losses), net	—			—			—			—			—
Claims & other policy benefits	—			—			—			—			—
Interest credited	—			—			—			—			—
Policy acquisition costs and other insurance expenses	—			—			—			—			—



	Fixed maturity securities - available-for-sale
For the three months ended June 30, 2014 (continued):	State and political subdivisions			Other foreign government, supranational and foreign government-sponsored enterprises			Funds withheld at interest- embedded derivatives			Interest sensitive contract liabilities embedded derivatives
Fair value, beginning of period	$	43,833		$	11,157		$	(99,029	)	$	(911,987	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	10			—			—			—
Investment related gains (losses), net	(4		)	—			78,835			(5,182		)
Claims & other policy benefits	—			—			—			—
Interest credited	—			—			—			(27,285		)
Policy acquisition costs and other insurance expenses	—			—			—			—
Included in other comprehensive income	2,330			33			—			—
Purchases⁽¹⁾	—			—			—			(14,215		)
Sales⁽¹⁾	—			—			—			—
Settlements⁽¹⁾	(402		)	(302		)	—			18,433
Transfers into Level 3	—			—			—			—
Transfers out of Level 3	—			—			—			—
Fair value, end of period	$	45,767		$	10,888		$	(20,194	)	$	(940,236	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	10		$	—		$	—		$	—
Investment related gains (losses), net	—			—			78,835			(5,946		)
Claims & other policy benefits	—			—			—			—
Interest credited	—			—			—			(45,718		)
Policy acquisition costs and other insurance expenses	—			—			—			—



For the six months ended June 30, 2014:	Fixed maturity securities - available-for-sale
	Corporate securities			Residential mortgage- backed securities			Asset-backed securities			Commercial mortgage- backed securities			U.S. Government and agencies
Fair value, beginning of period	$	1,345,289		$	153,505		$	471,848		$	101,785		$	40,919
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	(2,385		)	98			4,112			819			(282		)
Investment related gains (losses), net	5			137			1,247			92			(250		)
Claims & other policy benefits	—			—			—			—			—
Interest credited	—			—			—			—			—
Policy acquisition costs and other insurance expenses	—			—			—			—			—
Included in other comprehensive income	8,536			3,255			6,014			4,674			877
Purchases⁽¹⁾	132,061			32,148			124,108			—			293
Sales⁽¹⁾	(47,676		)	(744		)	(20,870		)	(14,626		)	—
Settlements⁽¹⁾	(100,946		)	(12,573		)	(12,633		)	(542		)	(8,563		)
Transfers into Level 3	6,930			11,464			11,614			5,712			—
Transfers out of Level 3	(53,874		)	(1,743		)	(29,280		)	—			—
Fair value, end of period	$	1,287,940		$	185,547		$	556,160		$	97,914		$	32,994
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	(2,336	)	$	94		$	2,005		$	875		$	(282	)
Investment related gains (losses), net	—			—			—			—			—
Claims & other policy benefits	—			—			—			—			—
Interest credited	—			—			—			—			—
Policy acquisition costs and other insurance expenses	—			—			—			—			—



For the six months ended June 30, 2014 (continued):	Fixed maturity securities available-for-sale
	State and political subdivisions			Other foreign government, supranational and foreign government-sponsored enterprises			Funds withheld at interest- embedded derivative			Other invested assets- non-redeemable preferred stock			Interest sensitive contract liabilities embedded derivatives
Fair value, beginning of period	$	43,776		$	37,997		$	(176,270	)	$	4,962		$	(868,725	)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Investment income, net of related expenses	21			—			—			—			—
Investment related gains (losses), net	(8		)	—			156,076			—			(28,844		)
Claims & other policy benefits	—			—			—			—			—
Interest credited	—			—			—			—			(51,125		)
Policy acquisition costs and other insurance expenses	—			—			—			—			—
Included in other comprehensive income	2,443			33			—			—			—
Purchases⁽¹⁾	—			—			—			—			(29,408		)
Sales⁽¹⁾	—			—			—			—			—
Settlements⁽¹⁾	(465		)	(599		)	—			—			37,866
Transfers into Level 3	—			—			—			—			—
Transfers out of Level 3	—			(26,543		)	—			(4,962		)	—
Fair value, end of period	$	45,767		$	10,888		$	(20,194	)	$	—		$	(940,236	)
Unrealized gains and losses recorded in earnings for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Investment income, net of related expenses	$	21		$	—		$	—		$	—		$	—
Investment related gains (losses), net	—			—			156,076			—			(30,156		)
Claims & other policy benefits	—			—			—			—			—
Interest credited	—			—			—			—			(88,991		)
Policy acquisition costs and other insurance expenses	—			—			—			—			—


(1)	The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block]



	Carrying Value After Measurement				Net Investment Gains (Losses)
	At June 30,				Three months ended June 30,						Six months ended June 30,
(dollars in thousands)	2015		2014		2015			2014			2015			2014
Mortgage loans⁽¹⁾	$	5,850	$	15,660	$	(11	)	$	(2,037	)	$	39		$	(1,656	)
Limited partnership interests⁽²⁾	13,667		8,889		—			(4,171		)	(4,509		)	(4,171		)

(1)

(2)

Financial Instruments Carrying Amounts And Estimated Fair Value [Table Text Block]

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments, which were not measured at fair value on a recurring basis, at June 30, 2015 and December 31, 2014 (dollars in thousands). This table excludes any payables or receivables for collateral under repurchase agreements and other transactions. The estimated fair value of the excluded amount approximates carrying value as they equal the amount of cash collateral received/paid.



June 30, 2015:	Carrying Value		Estimated Fair Value		Fair Value Measurement Using:
June 30, 2015:	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
Assets:
Mortgage loans on real estate	$	3,073,313	$	3,147,898	$	—	$	—	$	3,147,898
Policy loans	1,438,156		1,438,156		—		1,438,156		—
Funds withheld at interest⁽¹⁾	5,840,518		6,278,068		—		—		6,278,068
Cash and cash equivalents⁽²⁾	670,624		670,624		670,624		—		—
Short-term investments⁽²⁾	41,385		41,385		41,385		—		—
Other invested assets⁽²⁾	374,351		424,186		4,916		35,006		384,264
Accrued investment income	322,069		322,069		—		322,069		—
Liabilities:
Interest-sensitive contract liabilities⁽¹⁾	$	9,679,250	$	10,083,745	$	—	$	—	$	10,083,745
Long-term debt	2,313,470		2,460,800		—		—		2,460,800
Collateral finance and securitization notes	926,410		832,750		—		—		832,750

December 31, 2014:	Carrying Value		Estimated Fair Value		Fair Value Measurement Using:
December 31, 2014:	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
Assets:
Mortgage loans on real estate	$	2,712,238	$	2,803,942	$	—	$	—	$	2,803,942
Policy loans	1,284,284		1,284,284		—		1,284,284		—
Funds withheld at interest⁽¹⁾	5,897,202		6,367,165		—		—		6,367,165
Cash and cash equivalents⁽²⁾	745,823		745,823		745,823		—		—
Short-term investments⁽²⁾	52,504		52,504		52,504		—		—
Other invested assets⁽²⁾	465,720		518,261		4,674		35,446		478,141
Accrued investment income	261,096		261,096		—		261,096		—
Liabilities:
Interest-sensitive contract liabilities⁽¹⁾	$	9,623,596	$	9,666,240	$	—	$	—	$	9,666,240
Long-term debt	2,314,293		2,518,399		—		—		2,518,399
Collateral finance and securitization notes	782,701		674,984		—		—		674,984


(1)	Carrying values presented herein differ from those presented in the condensed consolidated balance sheets because certain items within the respective financial statement caption are embedded derivatives and are measured at fair value on a recurring basis.


(2)	Carrying values presented herein differ from those presented in the condensed consolidated balance sheets because certain items within the respective financial statement caption are measured at fair value on a recurring basis.

Segment Information (Tables)

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Reconciliation Of Revenue From Segments To Consolidated Text Block



	Three months ended June 30,				Six months ended June 30,
Total revenues:	2015		2014		2015		2014
U.S. and Latin America:
Traditional	$	1,342,248	$	1,333,027	$	2,597,538	$	2,611,719
Non-Traditional	191,775		293,448		384,448		582,069
Total	1,534,023		1,626,475		2,981,986		3,193,788
Canada:
Traditional	270,090		301,401		535,094		572,845
Non-Traditional	11,458		7,712		23,332		14,017
Total	281,548		309,113		558,426		586,862
Europe, Middle East and Africa:
Traditional	284,192		307,100		579,424		614,850
Non-Traditional	75,308		84,218		130,684		142,325
Total	359,500		391,318		710,108		757,175
Asia Pacific:
Traditional	411,314		465,538		805,189		852,427
Non-Traditional	7,076		17,633		26,646		45,773
Total	418,390		483,171		831,835		898,200
Corporate and Other	36,879		22,943		68,598		54,168
Total	$	2,630,340	$	2,833,020	$	5,150,953	$	5,490,193

Reconciliation Of Operating Profit Loss From Segments To Consolidated Text Block



	Three months ended June 30,						Six months ended June 30,
Income (loss) before income taxes:	2015			2014			2015			2014
U.S. and Latin America:
Traditional	$	82,793		$	93,988		$	100,636		$	144,960
Non-Traditional	70,393			95,474			124,898			178,598
Total	153,186			189,462			225,534			323,558
Canada:
Traditional	22,736			32,009			45,463			51,442
Non-Traditional	3,094			3,011			7,225			3,642
Total	25,830			35,020			52,688			55,084
Europe, Middle East and Africa:
Traditional	9,159			26,787			19,641			25,795
Non-Traditional	31,432			34,535			51,066			50,732
Total	40,591			61,322			70,707			76,527
Asia Pacific:
Traditional	4,315			28,213			56,963			47,080
Non-Traditional	(1,405		)	6,715			8,740			14,159
Total	2,910			34,928			65,703			61,239
Corporate and Other	(8,727		)	(20,197		)	(16,717		)	(16,433		)
Total	$	213,790		$	300,535		$	397,915		$	499,975

Reconciliation Of Assets From Segment To Consolidated Text Block



Total Assets:	June 30, 2015		December 31, 2014
U.S. and Latin America:
Traditional	$	15,904,747	$	14,159,824
Non-Traditional	13,854,077		11,572,251
Total	29,758,824		25,732,075
Canada:
Traditional	3,805,372		3,946,942
Non-Traditional	25,348		49,186
Total	3,830,720		3,996,128
Europe, Middle East and Africa:
Traditional	2,586,327		2,514,868
Non-Traditional	2,064,621		2,178,454
Total	4,650,948		4,693,322
Asia Pacific:
Traditional	2,997,342		2,951,723
Non-Traditional	625,125		667,645
Total	3,622,467		3,619,368
Corporate and Other	5,597,312		6,638,718
Total	$	47,460,271	$	44,679,611

Commitments and Contingent Liabilities (Tables)

6 Months Ended

Jun. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block]

The Company's commitments to fund investments as of June 30, 2015 and December 31, 2014 are presented in the following table (dollars in thousands):



	June 30, 2015		December 31, 2014
Limited partnerships	$	240,386	$	254,314
Commercial mortgage loans	7,100		33,850
Private placements	3,300		—
Bank loans	52,467		52,859
Equity release mortgages	8,383		8,549

Credit Facilities

The following table provides additional information on the Company’s credit facilities as of June 30, 2015 and December 31, 2014 (dollars in thousands):



			Amount Utilized⁽¹⁾
Facility Capacity		Maturity Date	June 30, 2015		December 31, 2014		Basis of Fees
$	850,000	September 2019	$	401,856	$	204,774	Senior unsecured long-term debt rating
76,310⁽²⁾		November 2015	76,310		74,623		Fixed
120,000		May 2016	80,040		80,040		Fixed
38,535⁽²⁾		May 2016	26,975		28,612		Fixed
150,000		June 2016	130,000		130,000		Fixed
100,000		June 2017	76,029		81,747		Fixed
270,000		November 2017	270,000		270,000		Fixed
51,892⁽²⁾		March 2019	51,892		80,961		Fixed


(1)	Represents issued but undrawn letters of credit. There was no cash borrowed for the periods presented.


(2)	Foreign currency facility, amounts presented are in U.S. dollars.

Schedule of Guarantor Obligations [Table Text Block]

RGA’s guarantees issued as of June 30, 2015 and December 31, 2014 are reflected in the following table (dollars in thousands):



	June 30, 2015		December 31, 2014
Treaty guarantees	$	790,455	$	826,496
Treaty guarantees, net of assets in trust	646,422		664,913
Borrowed securities	275,060		201,050
Financing arrangements	100,000		100,000
Lease obligations	5,245		6,085

Other Commitments [Table Text Block]

The following table presents the maximum potential obligation for these commitments as of June 30, 2015 (dollars in millions):




Commitment Period	June 30, 2015
2023	$	500
2033	950
2034	3,000
2035	500
2036	1,432

Income Tax Income Tax (Tables)

6 Months Ended

Jun. 30, 2015

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]



	Three months ended June 30,						Six months ended June 30,
	2015			2014			2015			2014
Tax provision at U.S. statutory rate	$	74,826		$	105,187		$	139,270		$	174,991
Increase (decrease) in income taxes resulting from:
Foreign tax rate differing from U.S. tax rate	(764		)	(4,676		)	(6,285		)	(7,896		)
Differences in tax bases in foreign jurisdictions	(6,931		)	(3,564		)	(13,601		)	(3,314		)
Deferred tax valuation allowance	4,967			2,510			11,758			(647		)
Amounts related to tax audit contingencies	952			778			1,905			1,556
Subpart F	11,452			3,691			17,886			6,129
Foreign tax credits	(1,104		)	(1,155		)	(3,448		)	(2,010		)
Return to provision adjustments	(212		)	114			(4,977		)	(3,237		)
Other, net	213			(646		)	(98		)	(557		)
Total provision for income taxes	$	83,399		$	102,239		$	142,410		$	165,015
Effective tax rate	39.0		%	34.0		%	35.8		%	33.0		%

Employee Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2015

Compensation and Retirement Disclosure [Abstract]

Schedule Of Defined Benefit Plans Disclosures Text Block

The components of net periodic benefit costs for the three and six months ended June 30, 2015 and 2014 were as follows (dollars in thousands):



	Pension Benefits						Other Benefits
	Three months ended June 30,						Three months ended June 30,
	2015			2014			2015		2014
Service cost	$	2,586		$	2,489		$	589	$	470
Interest cost	1,283			1,487			491		339
Expected return on plan assets	(1,331		)	(1,302		)	—		—
Amortization of prior service cost	80			216			—		—
Amortization of prior actuarial loss	833			245			265		217
Net periodic benefit cost	$	3,451		$	3,135		$	1,345	$	1,026



	Pension Benefits						Other Benefits
	Six months ended June 30,						Six months ended June 30,
	2015			2014			2015		2014
Service cost	$	4,616		$	3,990		$	1,178	$	940
Interest cost	2,526			2,295			982		677
Expected return on plan assets	(2,449		)	(2,235		)	—		—
Amortization of prior service cost	163			218			—		—
Amortization of prior actuarial loss	1,272			918			530		434
Net periodic benefit cost	$	6,128		$	5,186		$	2,690	$	2,051

Retrocession Arrangements and Reinsurance Ceded Receivables Retrocession Arrangements and Reinsurance Ceded Receivables (Tables)

6 Months Ended

Jun. 30, 2015

Retrocession Arrangements And Reinsurance Ceded Receivables [Abstract]

Ceded Credit Risk [Table Text Block]



		June 30, 2015				December 31, 2014
Reinsurer	A.M. Best Rating	Amount		% of Total		Amount		% of Total
Reinsurer A	A+	$	201,915	28.4	%	$	210,996	36.5	%
Reinsurer B	A+	193,294		27.2		45,541		7.9
Reinsurer C	A+	73,148		10.3		74,412		12.9
Reinsurer D	A	45,464		6.4		43,818		7.6
Reinsurer E	A++	43,679		6.1		43,154		7.5
Other reinsurers		153,963		21.6		160,285		27.6
Total		$	711,463	100.0	%	$	578,206	100.0	%

Earnings Per Share (Reconciliation of the Numerators and Denominators of the Basic and Diluted Per Shares) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net Income (Loss) Available to Common Stockholders, Basic [Abstract]
Net income (numerator for basic and diluted calculations)	$ 130,391	$ 198,296	$ 255,505	$ 334,960
Shares:
Weighted average outstanding shares (denominator for basic calculation)	66,351	69,076	67,246	69,823
Equivalent shares from outstanding stock options	769	642	785	666
Denominator for diluted calculation	67,120	69,718	68,031	70,489
Earnings Per Share:
Basic earnings per share	$ 1.97	$ 2.87	$ 3.80	$ 4.80
Diluted earnings per share	$ 1.94	$ 2.84	$ 3.76	$ 4.75

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Earnings Per Share (Narrative) (Details) - shares shares in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Stock Options [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	300	0
Contingently Issuable Shares [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	700	800

Accumulated Other Comprehensive Income (Balance of and Changes in Each Component of AOCI) (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2015

Jun. 30, 2014

Jun. 30, 2015

Jun. 30, 2014

Accumulated Other Comprehensive Income Loss Net Of Tax [Line Items]

Other Comprehensive Income (Loss), before Tax

$ (700,801)

$ 940,231

Other Comprehensive Income (Loss), Tax

197,414

(293,500)

Net income

$ 130,391

$ 198,296

255,505

334,960

Balance, Beginning of Period

1,657,129

1,005,607

Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest

213,790

300,535

397,915

499,975

Balance, End of Period

1,149,364

1,628,660

1,149,364

1,628,660

Provision for income taxes

(83,399)

(102,239)

(142,410)

(165,015)

Other Comprehensive Income (Loss), before Reclassifications, Net of Tax

(503,387)

646,731

Accumulated Translation Adjustment [Member]

Accumulated Other Comprehensive Income Loss Net Of Tax [Line Items]

Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax

(89,220)

(9,162)

Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax

(6,616)

9,122

Net income

Balance, Beginning of Period

81,847

207,083

Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest

Balance, End of Period

(13,989)

207,043

(13,989)

207,043

Provision for income taxes

Other Comprehensive Income (Loss), before Reclassifications, Net of Tax

(95,836)

(40)

Accumulated Net Unrealized Investment Gain (Loss) [Member]

Accumulated Other Comprehensive Income Loss Net Of Tax [Line Items]

Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Reclassification Adjustments and Tax

^[1]

(612,314)

949,650

Other Comprehensive Income (Loss), Available-for-sale Securities, before Reclassification Adjustments, Tax

^[1]

204,252

(302,873)

Net income

^[1]

(5,655)

(24,698)

Balance, Beginning of Period

^[1]

1,624,773

820,245

Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest

^[1]

(6,192)

(37,661)

Balance, End of Period

^[1]

1,211,056

1,442,324

1,211,056

1,442,324

Provision for income taxes

^[1]

537

12,963

Other Comprehensive Income (Loss), before Reclassifications, Net of Tax

^[1]

(408,062)

646,777

Accumulated Defined Benefit Plans Adjustment [Member]

Accumulated Other Comprehensive Income Loss Net Of Tax [Line Items]

Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, before Tax

733

(257)

Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, Tax

(222)

251

Net income

1,277

1,020

Balance, Beginning of Period

(49,491)

(21,721)

Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest

1,965

1,570

Balance, End of Period

$ (47,703)

$ (20,707)

(47,703)

(20,707)

Provision for income taxes

(688)

(550)

Other Comprehensive Income (Loss), before Reclassifications, Net of Tax

511

(6)

Amounts Reclassified From AOCI [Member]

Accumulated Other Comprehensive Income Loss Net Of Tax [Line Items]

Net income

(4,378)

(23,678)

Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest

(4,227)

(36,091)

Provision for income taxes

$ (151)

$ 12,413

[1]	Includes cash flow hedges. See Note 5 - “Derivative Instruments” for additional information on cash flow hedges.

Accumulated Other Comprehensive Income (Schedule of Reclassifications out of AOCI) (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2015

Jun. 30, 2014

Jun. 30, 2015

Jun. 30, 2014

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Investment related gains (losses), net

$ (12,041)

$ 119,397

$ (1,931)

$ 204,271

Investment income

450,539

410,607

877,430

814,982

Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net

2,038

1,258

Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest

213,790

300,535

397,915

499,975

Income Tax Expense (Benefit)

(83,399)

(102,239)

(142,410)

(165,015)

Net income

130,391

198,296

255,505

334,960

Unrealized Appreciation Depreciation Of Investments [Member]

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest

(440)

31,833

6,192

37,661

Income Tax Expense (Benefit)

(245)

(11,059)

(537)

(12,963)

Net income

(685)

20,774

5,655

24,698

Unrealized Appreciation Depreciation Of Investments [Member] | Unrealized Gains Losses On Available For Sale Securities [Member]

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Investment related gains (losses), net

1,829

27,142

4,908

28,331

Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net

1,495

655

Unrealized Appreciation Depreciation Of Investments [Member] | Gains Losses On Qualifying Cash Flow Hedging Instruments [Member]

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Investment income

543

321

603

539

Unrealized Appreciation Depreciation Of Investments [Member] | DAC Attributed To Unrealized Gains Losses [Member]

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Deferred policy acquisition costs attributed to unrealized gains and losses

(4,307)

^[1]

4,370

^[1]

(26)

8,791

^[1]

Amortization Of Unrealized Pension And Postretirement Benefits [Member]

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest

(1,178)

(678)

(1,965)

(1,570)

Income Tax Expense (Benefit)

413

238

688

550

Net income

(765)

(440)

(1,277)

(1,020)

Amounts Reclassified From AOCI [Member]

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Net income

(1,450)

20,334

4,378

23,678

Prior Service Cost [Member] | Amortization Of Unrealized Pension And Postretirement Benefits [Member]

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Prior service cost

(80)

^[2]

(216)

^[2]

(163)

(218)

^[2]

Actuarial Gains Losses [Member] | Amortization Of Unrealized Pension And Postretirement Benefits [Member]

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Actuarial gains/(losses)

$ (1,098)

^[2]

$ (462)

^[2]

$ 1,802

$ (1,352)

^[2]

[1]	This AOCI component is included in the computation of the deferred policy acquisition cost. See Note 8 – “Deferred Policy Acquisition Costs” of the 2014 Annual Report for additional details.
[2]	These AOCI components are included in the computation of the net periodic pension cost. See Note 10 – “Employee Benefit Plans” for additional details.

Investments (Investments in Fixed Maturity and Equity Securities Available-for-Sale by Sector) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 16,000,887	$ 14,010,604
Unrealized Losses	393,841	134,919
Estimated Fair Value	$ 16,489,406	$ 14,885,583
% of Total	100.00%	100.00%
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 26,305,332	$ 23,105,597
Unrealized Gains	2,147,882	2,508,673
Unrealized Losses	389,239	133,298
Estimated Fair Value	$ 28,063,975	$ 25,480,972
% of Total	100.00%	100.00%
Other-than-temporary impairments in AOCI	$ 1,555	$ (1,555)
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	129,359	120,534
Unrealized Gains	2,911	7,947
Unrealized Losses	4,602	1,621
Estimated Fair Value	$ 127,668	$ 126,860
% of Total	100.00%	100.00%
Corporate Debt Securities [Member] \| Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 16,000,887	$ 14,010,604
Unrealized Gains	730,409	965,523
Unrealized Losses	241,890	90,544
Estimated Fair Value	$ 16,489,406	$ 14,885,583
% of Total	58.80%	58.40%
Other-than-temporary impairments in AOCI	$ 0	$ 0
Canadian and Canadian provincial governments \| Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	2,655,763	2,668,852
Unrealized Gains	1,140,904	1,196,420
Unrealized Losses	2,860	7
Estimated Fair Value	$ 3,793,807	$ 3,865,265
% of Total	13.50%	15.20%
Other-than-temporary impairments in AOCI	$ 0	$ 0
Residential mortgage-backed securities \| Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,154,732	991,867
Unrealized Gains	47,241	52,640
Unrealized Losses	11,094	6,611
Estimated Fair Value	$ 1,190,879	$ 1,037,896
% of Total	4.20%	4.10%
Other-than-temporary impairments in AOCI	$ (300)	$ (300)
Asset-backed securities \| Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,051,093	1,059,660
Unrealized Gains	19,915	20,301
Unrealized Losses	8,384	10,375
Estimated Fair Value	$ 1,062,624	$ 1,069,586
% of Total	3.80%	4.20%
Other-than-temporary impairments in AOCI	$ 354	$ 354
Commercial Mortgage Backed Securities [Member] \| Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,471,419	1,453,657
Unrealized Gains	63,699	87,593
Unrealized Losses	9,649	8,659
Estimated Fair Value	$ 1,525,469	$ 1,532,591
% of Total	5.40%	6.00%
Other-than-temporary impairments in AOCI	$ (1,609)	$ (1,609)
US Treasury and Government [Member] \| Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,332,518	501,352
Unrealized Gains	18,149	25,014
Unrealized Losses	86,669	515
Estimated Fair Value	$ 1,263,998	$ 525,851
% of Total	4.50%	2.00%
Other-than-temporary impairments in AOCI	$ 0	$ 0
US States and Political Subdivisions Debt Securities [Member] \| Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	478,262	378,457
Unrealized Gains	38,891	51,117
Unrealized Losses	10,981	3,498
Estimated Fair Value	$ 506,172	$ 426,076
% of Total	1.80%	1.70%
Other-than-temporary impairments in AOCI	$ 0	$ 0
Foreign Government Debt Securities [Member] \| Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	2,160,658	2,041,148
Unrealized Gains	88,674	110,065
Unrealized Losses	17,712	13,089
Estimated Fair Value	$ 2,231,620	$ 2,138,124
% of Total	8.00%	8.40%
Other-than-temporary impairments in AOCI	$ 0	$ 0
Nonredeemable Preferred Stock [Member] \| Equity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	91,717	93,540
Unrealized Gains	2,477	7,350
Unrealized Losses	3,620	1,527
Estimated Fair Value	$ 90,574	$ 99,363
% of Total	70.90%	78.30%
Other equity securities \| Equity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 37,642	$ 26,994
Unrealized Gains	434	597
Unrealized Losses	982	94
Estimated Fair Value	$ 37,094	$ 27,497
% of Total	29.10%	21.70%

Investments (Fixed Maturity Securities Pledged And Received As Collateral) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	$ 16,000,887	$ 14,010,604
Available-for-sale Securities	16,489,406	14,885,583
Collateral Fixed Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	181,681	127,229
Available-for-sale Securities	190,298	134,863
Collateral Received Fixed Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities	126,422	117,227
Reported Value Measurement [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets Held-in-trust	9,948,045	10,197,489
Estimate of Fair Value Measurement [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets Held-in-trust	$ 10,501,206	$ 10,922,947

Investments (Exposure To Concentrations Of Credit Risk) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	$ 16,000,887	$ 14,010,604
Available-for-sale Securities	16,489,406	14,885,583
Canadian Province Of Quebec Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	1,012,835	1,006,315
Available-for-sale Securities	1,560,409	1,599,673
Canadian Province Of Ontario Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	921,150	979,908
Available-for-sale Securities	$ 1,295,793	$ 1,359,339

Investments (Amortized Cost and Fair Value of Fixed Maturities by Contractual Maturities) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Available For Sale Securities Debt Maturities Amortized Cost
Due in one year or less	$ 686,582
Due after one year through five years	4,882,381
Due after five year through ten years	7,920,478
Due after ten years	9,138,647
Asset and mortgage-backed securities	3,677,244
Total	26,305,332	$ 23,105,597
Available For Sale Securities Debt Maturities Fair Value
Due in one year or less	696,191
Due after one year through five years	5,118,186
Due after five year through ten years	8,213,365
Due after ten years	10,257,261
Asset and mortgage-backed securities	3,778,972
Total	$ 28,063,975	$ 25,480,972

Investments (Amortized Cost and Fair Value of Fixed Maturity Holdings by Industry Type) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Corporate Securities by Investment Sector And Credit Rating [Line Items]
Amortized Cost	$ 16,000,887	$ 14,010,604
Estimated Fair Value	$ 16,489,406	$ 14,885,583
% of Total	100.00%	100.00%
Finance
Corporate Securities by Investment Sector And Credit Rating [Line Items]
Amortized Cost	$ 5,238,400	$ 4,789,568
Estimated Fair Value	$ 5,419,421	$ 5,066,408
% of Total	32.90%	34.00%
Industrial
Corporate Securities by Investment Sector And Credit Rating [Line Items]
Amortized Cost	$ 9,057,282	$ 7,639,330
Estimated Fair Value	$ 9,281,262	$ 8,086,067
% of Total	56.20%	54.30%
Utility
Corporate Securities by Investment Sector And Credit Rating [Line Items]
Amortized Cost	$ 1,705,205	$ 1,581,706
Estimated Fair Value	$ 1,788,723	$ 1,733,108
% of Total	10.90%	11.70%

Investments Investments (Credit Losses Recognized in Earnings on Fixed Maturity Securities Held by the Company) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward]
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held	$ 7,284	$ 7,284	$ 7,284	$ 7,284	$ 7,284	$ 7,284	$ 11,696	$ 11,696
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Reductions, Securities Sold	$ 0	$ 4,412	$ 0	$ 4,412

Investments (Fair Value Below Amortized Cost of Gross Unrealized Losses for Fixed Maturity and Equity Securities) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Gross unrealized losses with number of securities [Line Items]
Gross Unrealized Losses	$ 393,841	$ 134,919
% of Total	100.00%	100.00%
Less than 20%
Gross unrealized losses with number of securities [Line Items]
Gross Unrealized Losses	$ 373,312	$ 111,965
% of Total	94.80%	83.00%
20% or more for less than six months
Gross unrealized losses with number of securities [Line Items]
Gross Unrealized Losses	$ 10,201	$ 13,698
% of Total	2.60%	10.10%
20% or more for six months or greater
Gross unrealized losses with number of securities [Line Items]
Gross Unrealized Losses	$ 10,328	$ 9,256
% of Total	2.60%	6.90%

Investments (Fair Value and Losses by Investment Category and Length of Time in a Loss Position) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Fixed maturity securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Estimated Fair Value - Less than 12 months	$ 7,743,786	$ 2,437,278
Gross Unrealized Losses - Less than 12 months	346,050	73,639
Estimated Fair Value - 12 months or greater	654,932	1,068,336
Gross Unrealized Losses - 12 months or greater	43,189	59,659
Estimated Fair Value	8,398,718	3,505,614
Gross Unrealized Losses	389,239	133,298
Equity securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Estimated Fair Value - Less than 12 months	66,257	11,619
Gross Unrealized Losses - Less than 12 months	3,160	235
Estimated Fair Value - 12 months or greater	6,225	22,645
Gross Unrealized Losses - 12 months or greater	1,442	1,386
Estimated Fair Value	72,482	34,264
Gross Unrealized Losses	4,602	1,621
Non-investment grade securities \| Fixed maturity securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Estimated Fair Value - Less than 12 months	659,860	469,408
Gross Unrealized Losses - Less than 12 months	27,055	33,311
Estimated Fair Value - 12 months or greater	94,256	51,539
Gross Unrealized Losses - 12 months or greater	11,500	10,805
Estimated Fair Value	754,116	520,947
Gross Unrealized Losses	38,555	44,116
Investment grade securities \| Fixed maturity securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Estimated Fair Value - Less than 12 months	7,083,926	1,967,870
Gross Unrealized Losses - Less than 12 months	318,995	40,328
Estimated Fair Value - 12 months or greater	560,676	1,016,797
Gross Unrealized Losses - 12 months or greater	31,689	48,854
Estimated Fair Value	7,644,602	2,984,667
Gross Unrealized Losses	350,684	89,182
Corporate Debt Securities [Member] \| Non-investment grade securities \| Fixed maturity securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Estimated Fair Value - Less than 12 months	553,615	415,886
Gross Unrealized Losses - Less than 12 months	23,667	29,316
Estimated Fair Value - 12 months or greater	58,910	32,567
Gross Unrealized Losses - 12 months or greater	5,891	3,404
Estimated Fair Value	612,525	448,453
Gross Unrealized Losses	29,558	32,720
Corporate Debt Securities [Member] \| Investment grade securities \| Fixed maturity securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Estimated Fair Value - Less than 12 months	4,719,168	1,225,767
Gross Unrealized Losses - Less than 12 months	194,881	27,784
Estimated Fair Value - 12 months or greater	299,379	614,294
Gross Unrealized Losses - 12 months or greater	17,451	30,040
Estimated Fair Value	5,018,547	1,840,061
Gross Unrealized Losses	212,332	57,824
Canadian and Canadian provincial governments \| Investment grade securities \| Fixed maturity securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Estimated Fair Value - Less than 12 months	117,996	0
Gross Unrealized Losses - Less than 12 months	2,860	0
Estimated Fair Value - 12 months or greater	0	1,235
Gross Unrealized Losses - 12 months or greater	0	7
Estimated Fair Value	117,996	1,235
Gross Unrealized Losses	2,860	7
Residential mortgage-backed securities \| Non-investment grade securities \| Fixed maturity securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Estimated Fair Value - Less than 12 months	31,443	22,836
Gross Unrealized Losses - Less than 12 months	268	293
Estimated Fair Value - 12 months or greater	11,779	6,284
Gross Unrealized Losses - 12 months or greater	395	225
Estimated Fair Value	43,222	29,120
Gross Unrealized Losses	663	518
Residential mortgage-backed securities \| Investment grade securities \| Fixed maturity securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Estimated Fair Value - Less than 12 months	309,772	78,864
Gross Unrealized Losses - Less than 12 months	6,659	846
Estimated Fair Value - 12 months or greater	64,855	135,414
Gross Unrealized Losses - 12 months or greater	3,772	5,247
Estimated Fair Value	374,627	214,278
Gross Unrealized Losses	10,431	6,093
Asset-backed securities \| Non-investment grade securities \| Fixed maturity securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Estimated Fair Value - Less than 12 months	5,305	12,448
Gross Unrealized Losses - Less than 12 months	84	274
Estimated Fair Value - 12 months or greater	12,102	7,108
Gross Unrealized Losses - 12 months or greater	1,695	1,791
Estimated Fair Value	17,407	19,556
Gross Unrealized Losses	1,779	2,065
Asset-backed securities \| Investment grade securities \| Fixed maturity securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Estimated Fair Value - Less than 12 months	294,220	332,785
Gross Unrealized Losses - Less than 12 months	3,101	4,021
Estimated Fair Value - 12 months or greater	126,602	109,411
Gross Unrealized Losses - 12 months or greater	3,504	4,289
Estimated Fair Value	420,822	442,196
Gross Unrealized Losses	6,605	8,310
Commercial mortgage-backed securities \| Non-investment grade securities \| Fixed maturity securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Estimated Fair Value - Less than 12 months	6,523	3,288
Gross Unrealized Losses - Less than 12 months	534	249
Estimated Fair Value - 12 months or greater	7,544	5,580
Gross Unrealized Losses - 12 months or greater	3,347	5,385
Estimated Fair Value	14,067	8,868
Gross Unrealized Losses	3,881	5,634
Commercial mortgage-backed securities \| Investment grade securities \| Fixed maturity securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Estimated Fair Value - Less than 12 months	220,262	78,632
Gross Unrealized Losses - Less than 12 months	4,376	564
Estimated Fair Value - 12 months or greater	22,831	28,375
Gross Unrealized Losses - 12 months or greater	1,392	2,461
Estimated Fair Value	243,093	107,007
Gross Unrealized Losses	5,768	3,025
US Government Agencies Debt Securities [Member] \| Investment grade securities \| Fixed maturity securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Estimated Fair Value - Less than 12 months	862,953	81,317
Gross Unrealized Losses - Less than 12 months	86,669	89
Estimated Fair Value - 12 months or greater	0	32,959
Gross Unrealized Losses - 12 months or greater	0	426
Estimated Fair Value	862,953	114,276
Gross Unrealized Losses	86,669	515
US States and Political Subdivisions Debt Securities [Member] \| Non-investment grade securities \| Fixed maturity securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Estimated Fair Value - Less than 12 months		964
Gross Unrealized Losses - Less than 12 months		43
Estimated Fair Value - 12 months or greater		0
Gross Unrealized Losses - 12 months or greater		0
Estimated Fair Value		964
Gross Unrealized Losses		43
US States and Political Subdivisions Debt Securities [Member] \| Investment grade securities \| Fixed maturity securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Estimated Fair Value - Less than 12 months	157,210	13,780
Gross Unrealized Losses - Less than 12 months	7,399	17
Estimated Fair Value - 12 months or greater	13,180	18,998
Gross Unrealized Losses - 12 months or greater	3,582	3,438
Estimated Fair Value	170,390	32,778
Gross Unrealized Losses	10,981	3,455
Foreign Government Debt Securities [Member] \| Non-investment grade securities \| Fixed maturity securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Estimated Fair Value - Less than 12 months	62,974	13,986
Gross Unrealized Losses - Less than 12 months	2,502	3,136
Estimated Fair Value - 12 months or greater	3,921	0
Gross Unrealized Losses - 12 months or greater	172	0
Estimated Fair Value	66,895	13,986
Gross Unrealized Losses	2,674	3,136
Foreign Government Debt Securities [Member] \| Investment grade securities \| Fixed maturity securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Estimated Fair Value - Less than 12 months	402,345	156,725
Gross Unrealized Losses - Less than 12 months	13,050	7,007
Estimated Fair Value - 12 months or greater	33,829	76,111
Gross Unrealized Losses - 12 months or greater	1,988	2,946
Estimated Fair Value	436,174	232,836
Gross Unrealized Losses	15,038	9,953
Nonredeemable Preferred Stock [Member] \| Equity securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Estimated Fair Value - Less than 12 months	39,466	11,619
Gross Unrealized Losses - Less than 12 months	2,178	235
Estimated Fair Value - 12 months or greater	6,225	19,100
Gross Unrealized Losses - 12 months or greater	1,442	1,292
Estimated Fair Value	45,691	30,719
Gross Unrealized Losses	3,620	1,527
Other equity securities \| Equity securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Estimated Fair Value - Less than 12 months	26,791	0
Gross Unrealized Losses - Less than 12 months	982	0
Estimated Fair Value - 12 months or greater	0	3,545
Gross Unrealized Losses - 12 months or greater	0	94
Estimated Fair Value	26,791	3,545
Gross Unrealized Losses	$ 982	$ 94

Investments (Investment Income Net of Related Expenses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Major Categories Of Investment Income Net of Expenses [Line Items]
Investment revenue	$ 467,718	$ 424,740	$ 911,280	$ 843,437
Investment expense	(17,179)	(14,133)	(33,850)	(28,455)
Investment income, net of related expenses	450,539	410,607	877,430	814,982
Available-for-sale Securities [Member]
Major Categories Of Investment Income Net of Expenses [Line Items]
Investment revenue	303,792	253,456	573,560	497,418
Mortgage Loans on Real Estate [Member]
Major Categories Of Investment Income Net of Expenses [Line Items]
Investment revenue	37,121	30,373	71,893	63,465
Policy loans
Major Categories Of Investment Income Net of Expenses [Line Items]
Investment revenue	16,248	13,751	30,288	27,189
Funds withheld at interest
Major Categories Of Investment Income Net of Expenses [Line Items]
Investment revenue	87,325	108,059	199,585	220,798
Short-term Investments [Member]
Major Categories Of Investment Income Net of Expenses [Line Items]
Investment revenue	814	80	1,509	1,045
Other invested assets
Major Categories Of Investment Income Net of Expenses [Line Items]
Investment revenue	$ 22,418	$ 19,021	$ 34,445	$ 33,522

Investments (Investment Related Gains (Losses) Net) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Investment Gains And Losses [Abstract]
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net	$ 4,137	$ 870	$ 6,664	$ 1,173
Gain on investment activity	20,009	34,887	39,210	42,954
Loss on investment activity	(14,475)	(6,877)	(28,071)	(13,460)
Other impairment losses and change in mortgage loan provision	143	(5,309)	(4,025)	(3,645)
Derivatives and other, net	(17,718)	96,696	(9,045)	178,422
Total investment related gains (losses), net	$ (16,178)	$ 118,527	$ (8,595)	$ 203,098

Investments (Borrowed Securities Repurchased Securities And Repurchased Reversed Repurchased Securities) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Securities Sold under Agreements to Repurchase	$ 0	$ 92,446
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	0	107,158
Securities for Reverse Repurchase Agreements	298,900	298,466
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Securities	340,201	338,929
Reported Value Measurement [Member]
Schedule of Available-for-sale Securities [Line Items]
Securities Borrowed	275,060	201,050
Estimate of Fair Value Measurement [Member]
Schedule of Available-for-sale Securities [Line Items]
Securities Borrowed	284,602	212,946
Securities for Reverse Repurchase Agreements	$ 313,771	$ 314,160

- Definition

Amount, after the effects of master netting arrangements, of funds outstanding borrowed in the form of a security repurchase agreement between the entity and another party for the sale and repurchase of identical or substantially the same securities at a date certain for a specified price. Includes liabilities not subject to a master netting arrangement and not elected to be offset.

+ References + Details

Investments (Mortgage Loans by Property Type) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Mortgage Loans on Real Estate [Line Items]
Recorded investment	$ 3,079,255	$ 2,718,709
Percentage of total	100.00%	100.00%
Apartment
Mortgage Loans on Real Estate [Line Items]
Recorded investment	$ 410,213	$ 376,430
Percentage of total	13.30%	13.80%
Retail
Mortgage Loans on Real Estate [Line Items]
Recorded investment	$ 964,540	$ 802,466
Percentage of total	31.40%	29.60%
Office building
Mortgage Loans on Real Estate [Line Items]
Recorded investment	$ 957,724	$ 851,749
Percentage of total	31.10%	31.30%
Industrial
Mortgage Loans on Real Estate [Line Items]
Recorded investment	$ 535,856	$ 466,583
Percentage of total	17.40%	17.20%
Other commercial
Mortgage Loans on Real Estate [Line Items]
Recorded investment	$ 210,922	$ 221,481
Percentage of total	6.80%	8.10%

Investments (Mortgage Loans by Maturity Date) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Mortgage Loans on Real Estate [Line Items]
Mortgage loans, gross of valuation allowances	$ 3,079,255	$ 2,718,709
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	100.00%	100.00%
Due within five years
Mortgage Loans on Real Estate [Line Items]
Mortgage loans, gross of valuation allowances	$ 877,270	$ 860,362
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	28.50%	31.60%
Due after five years through ten years
Mortgage Loans on Real Estate [Line Items]
Mortgage loans, gross of valuation allowances	$ 1,459,108	$ 1,165,530
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	47.40%	42.90%
Due after ten years
Mortgage Loans on Real Estate [Line Items]
Mortgage loans, gross of valuation allowances	$ 742,877	$ 692,817
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	24.10%	25.50%

Investments (Mortgage Loans by Credit Quality Indicator) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Mortgage Loans on Real Estate [Line Items]
Mortgage loans, gross of valuation allowances	$ 3,079,255	$ 2,718,709
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	100.00%	100.00%
High investment grade
Mortgage Loans on Real Estate [Line Items]
Mortgage loans, gross of valuation allowances	$ 1,553,149	$ 1,326,199
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	50.50%	48.80%
Investment grade
Mortgage Loans on Real Estate [Line Items]
Mortgage loans, gross of valuation allowances	$ 1,405,901	$ 1,235,046
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	45.70%	45.40%
Average
Mortgage Loans on Real Estate [Line Items]
Mortgage loans, gross of valuation allowances	$ 81,284	$ 118,152
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	2.60%	4.40%
Watch list
Mortgage Loans on Real Estate [Line Items]
Mortgage loans, gross of valuation allowances	$ 22,036	$ 22,285
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	0.70%	0.80%
In or near default
Mortgage Loans on Real Estate [Line Items]
Mortgage loans, gross of valuation allowances	$ 16,885	$ 17,027
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	0.50%	0.60%

Investments (Mortgage Loans by Method of Evaluation and Related Valuation Allowances) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Mortgage Loans:
Total mortgage loans	$ 3,079,255	$ 2,718,709
Mortgage Loans on Real Estate, Commercial and Consumer, Net, (Investment Based Operations Presentation) [Abstract]
Mortgage loans on real estate (net of valuation allowances)	3,073,313	2,712,238
Commercial Real Estate Portfolio Segment
Mortgage Loans:
Evaluated individually for credit losses	16,885	17,027
Evaluated collectively for credit losses	3,062,370	2,701,682
Total mortgage loans	3,079,255	2,718,709
Valuation Allowances:
Specific for credit losses	671	816
Non-specifically identified credit losses	5,271	5,655
Total valuation allowances	$ 5,942	$ 6,471

Investments (Loan Valuation Allowance for Mortgage Loans) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Allowance For Loan And Lease Losses Roll Forward
Balance, Beginning of Period	$ 6,130	$ 8,466	$ 6,471	$ 10,106
Charge-offs	0	0	0	24
Provision (release)	(188)	1,226	(529)	(438)
Balance, End of Period	$ 5,942	$ 9,692	$ 5,942	$ 9,692

Investments (Impaired Mortgage Loans) (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2015

Jun. 30, 2014

Jun. 30, 2015

Jun. 30, 2014

Dec. 31, 2014

Financing Receivable Impaired [Line Items]

Unpaid Principal Balance

$ 17,453

$ 17,593

Recorded Investment

16,885

17,027

Related Allowance

671

816

Carrying Value

16,214

16,211

Average Investment

^[1]

16,921

$ 30,444

16,956

$ 32,910

Interest Income

264

330

525

841

Impaired mortgage loans with valuation allowance recorded

Financing Receivable Impaired [Line Items]

Unpaid Principal Balance

13,039

10,279

Recorded Investment

12,531

10,316

Related Allowance

671

816

Carrying Value

11,860

9,500

Average Investment

^[1]

11,397

15,855

11,036

16,151

Interest Income

229

259

384

452

Impaired mortgage loans with no valuation allowance recorded

Financing Receivable Impaired [Line Items]

Unpaid Principal Balance

4,414

7,314

Recorded Investment

4,354

6,711

Related Allowance

Carrying Value

4,354

$ 6,711

Average Investment

^[1]

5,524

14,589

5,920

16,759

Interest Income

$ 35

$ 71

$ 141

$ 389

[1]	Average recorded investment represents the average loan balances as of the beginning of period and all subsequent quarterly end of period balances.

Investments (Other Invested Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Other Investments [Line Items]
Other invested assets	$ 1,110,107	$ 1,198,319
Equity securities
Other Investments [Line Items]
Other invested assets	127,668	126,860
Limited Partner [Member]
Other Investments [Line Items]
Other invested assets	492,465	446,604
Structured loans
Other Investments [Line Items]
Other invested assets	52,185	164,309
Derivatives
Other Investments [Line Items]
Other invested assets	194,276	216,966
Fair Value Option Contractholder Directed Unit Linked Investments [Member]
Other Investments [Line Items]
Other invested assets	137,529	140,344
Other
Other Investments [Line Items]
Other invested assets	$ 105,984	$ 103,236

Investments (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended
Investments (Narrative) (Details) $ in Thousands	Jun. 30, 2015 USD ($) securities	Jun. 30, 2014 USD ($)	Jun. 30, 2015 USD ($) securities	Jun. 30, 2014 USD ($)	Mar. 31, 2015 USD ($)	Dec. 31, 2014 USD ($) securities	Mar. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Investment Narrative [Line Items]
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held	$ 7,284	$ 7,284	$ 7,284	$ 7,284	$ 7,284	$ 7,284	$ 11,696	$ 11,696
Policy Loans Percent Of Total Investments	3.60%		3.60%			3.50%
Mortgage Loan To Value Ratio on Approval			75.00%
Mortgage Loan Percent Of Cash And Invested Assets	7.80%		7.80%			7.40%
Proceeds From Sale Of Available For Sale Securities Sold At Loss	$ 651,300	222,800	$ 850,900	457,900
Available-for-sale Securities, Gross Realized Losses	$ 14,475	$ 6,877	$ 28,071	$ 13,460
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions \| securities	1,566		1,566			932
Securities As Percentage Of Consolidated Stockholder Equity	10.00%		10.00%
Securities Borrowed Or Pledged, Minimum Fair Value Percentage			100.00%
Minimum Collateral Balance of Cash Received Fair Value			105.00%
Collateral Obtained Percent Of Fair Value Reverse Repurchase Agreements			100.00%
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	100.00%		100.00%			100.00%
Funds Withheld At Interest Percent Of Total Investments	14.70%		14.70%			16.10%
Funds withheld at interest	$ 5,840,076		$ 5,840,076			$ 5,922,561
Funds Held Under Reinsurance Agreements Asset Specific Client	$ 4,200,000		$ 4,200,000
Other Invested Assets Percent Of Cash And Invested Assets	2.80%		2.80%			3.30%
Assets Sold under Agreements to Repurchase, Repurchase Liability						$ 101,400
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	$ 0		$ 0			107,158
Investment in mortgage loans
Investment Narrative [Line Items]
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due	$ 0		$ 0			$ 0
CALIFORNIA
Investment Narrative [Line Items]
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	20.60%		20.60%			18.70%

Derivative Instruments (Gross Notional Amount and Fair Value of Derivatives Contracts) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Derivative [Line Items]
Notional Amount	$ 11,127,801	$ 11,125,976
Carrying Value / Fair Value of Assets	227,358	260,898
Carrying Value / Fair Value of Liabilities	1,120,882	1,141,831
Not Designated as Hedging Instrument
Derivative [Line Items]
Notional Amount	10,292,160	10,132,552
Carrying Value / Fair Value of Assets	139,055	188,817
Carrying Value / Fair Value of Liabilities	1,096,807	1,109,058
Not Designated as Hedging Instrument \| Interest Rate Swap [Member]
Derivative [Line Items]
Notional Amount	966,658	1,144,661
Carrying Value / Fair Value of Assets	71,399	93,783
Carrying Value / Fair Value of Liabilities	11,025	3,934
Not Designated as Hedging Instrument \| Interest Rate Options
Derivative [Line Items]
Notional Amount	0	240,000
Carrying Value / Fair Value of Assets	0	18,195
Carrying Value / Fair Value of Liabilities	0	0
Not Designated as Hedging Instrument \| Financial Futures
Derivative [Line Items]
Notional Amount	313,905	275,983
Carrying Value / Fair Value of Assets	0	0
Carrying Value / Fair Value of Liabilities	0	0
Not Designated as Hedging Instrument \| Foreign Currency Forwards
Derivative [Line Items]
Notional Amount	60,000	67,967
Carrying Value / Fair Value of Assets	129	87
Carrying Value / Fair Value of Liabilities	7,551	15,098
Not Designated as Hedging Instrument \| Consumer Price Index Swaps
Derivative [Line Items]
Notional Amount	39,537	41,938
Carrying Value / Fair Value of Assets	34	0
Carrying Value / Fair Value of Liabilities	57	561
Not Designated as Hedging Instrument \| Credit Default Swaps
Derivative [Line Items]
Notional Amount	891,700	805,700
Carrying Value / Fair Value of Assets	11,757	11,689
Carrying Value / Fair Value of Liabilities	3,937	3,502
Not Designated as Hedging Instrument \| Equity Options
Derivative [Line Items]
Notional Amount	483,830	555,361
Carrying Value / Fair Value of Assets	44,883	35,242
Carrying Value / Fair Value of Liabilities	0	0
Not Designated as Hedging Instrument \| Longevity Swap [Member]
Derivative [Line Items]
Notional Amount	891,760	450,000
Carrying Value / Fair Value of Assets	10,853	7,727
Carrying Value / Fair Value of Liabilities	0	0
Not Designated as Hedging Instrument \| Mortality Swap [Member]
Derivative [Line Items]
Notional Amount	50,000	50,000
Carrying Value / Fair Value of Assets	0	0
Carrying Value / Fair Value of Liabilities	1,754	797
Not Designated as Hedging Instrument \| Embedded Derivatives In Modified Coinsurance Or Funds Withheld Arrangements
Derivative [Line Items]
Notional Amount	0	0
Carrying Value / Fair Value of Assets	0	22,094
Carrying Value / Fair Value of Liabilities	3,329	0
Not Designated as Hedging Instrument \| Embedded Derivatives In Indexed Annuity [Member]
Derivative [Line Items]
Notional Amount	0	0
Carrying Value / Fair Value of Assets	0	0
Carrying Value / Fair Value of Liabilities	935,619	925,887
Not Designated as Hedging Instrument \| Embedded Derivatives In Variable Annuity [Member]
Derivative [Line Items]
Notional Amount	0	0
Carrying Value / Fair Value of Assets	0	0
Carrying Value / Fair Value of Liabilities	133,535	159,279
Not Designated as Hedging Instrument \| Synthetic Guaranteed Investment Contracts
Derivative [Line Items]
Notional Amount	6,594,770	6,500,942
Carrying Value / Fair Value of Assets	0	0
Carrying Value / Fair Value of Liabilities	0	0
Designated As Hedging Instrument
Derivative [Line Items]
Notional Amount	835,641	993,424
Carrying Value / Fair Value of Assets	88,303	72,081
Carrying Value / Fair Value of Liabilities	24,075	32,773
Designated As Hedging Instrument \| Interest Rate Swap [Member]
Derivative [Line Items]
Notional Amount	120,000	120,000
Carrying Value / Fair Value of Assets	0	0
Carrying Value / Fair Value of Liabilities	23,662	18,228
Designated As Hedging Instrument \| Currency Swap [Member]
Derivative [Line Items]
Notional Amount	715,641	676,972
Carrying Value / Fair Value of Assets	88,303	70,906
Carrying Value / Fair Value of Liabilities	413	0
Designated As Hedging Instrument \| Forward Contracts [Member]
Derivative [Line Items]
Notional Amount	0	196,452
Carrying Value / Fair Value of Assets	0	1,175
Carrying Value / Fair Value of Liabilities	$ 0	$ 14,545

Derivative Instruments (Derivative Instruments Offsetting Balance Sheet) (Details) - USD ($)
$ in Thousands

Jun. 30, 2015

Dec. 31, 2014

Derivative Assets [Abstract]

Derivative Fair Value Of Free Standing Derivative Asset

$ 227,358

$ 238,804

Gross Amounts Offset in the Balance Sheet

(22,230)

(14,111)

Net Amounts Presented in the Balance Sheet

205,128

224,693

Derivative Asset, Fair Value of Collateral

^[1]

(15,587)

(20,260)

Gross Amounts Not Offset in the Balance Sheet - Cash Collateral Pledged/Received

^[2]

(160,768)

(178,141)

Net Amount

28,773

26,292

Derivative Liabilities [Abstract]

Gross Amounts Recognized

48,399

56,665

Gross Amounts Offset in the Balance Sheet

(22,230)

(14,111)

Net Amounts Presented in the Balance Sheet

26,169

42,554

Gross Amounts Not Offset in the Balance Sheet - Financial Instruments

^[3]

(54,692)

(47,222)

Gross Amounts Not Offset in the Balance Sheet - Cash Collateral Pledged/Received

^[4]

(4,940)

Net Amount

$ (33,463)

$ (4,668)

[1]	Consists of U.S. Treasury securities.
[2]	Included in cash and cash equivalents, with obligation to return cash collateral recorded in other liabilities.
[3]	Included in available-for-sale securities, primarily consists of U.S. Treasury securities.
[4]	Consists of receivable from counterparty, included in other assets.

Derivative Instruments (Current Period Cash Flow Hedges in AOCI (loss) before Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
AOCI Cash Flow Hedges [Roll Forward]
Balance beginning	$ (30,598)	$ (4,020)	$ (31,591)	$ (4,578)
Gains (losses) deferred in other comprehensive income (loss) on the effective portion of cash flow hedges	8,735	4,798	8,948	5,574
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(2,038)		(1,258)
Balance ending	(23,901)	457	(23,901)	457
Interest Rate Swap [Member]
AOCI Cash Flow Hedges [Roll Forward]
Gains (losses) deferred in other comprehensive income (loss) on the effective portion of cash flow hedges	2,417	4,798	(5,150)	5,574
Investment Income [Member]
AOCI Cash Flow Hedges [Roll Forward]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(543)		(603)
Investment Income [Member] \| Forward Contracts [Member]
AOCI Cash Flow Hedges [Roll Forward]
Gains (losses) deferred in other comprehensive income (loss) on the effective portion of cash flow hedges	0		0
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(312)		(312)
Investment Income [Member] \| Interest Rate Swap [Member]
AOCI Cash Flow Hedges [Roll Forward]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(231)	(321)	(291)	(539)
Investment Related Gains Losses [Member] \| Forward Contracts [Member]
AOCI Cash Flow Hedges [Roll Forward]
Gains (losses) deferred in other comprehensive income (loss) on the effective portion of cash flow hedges	6,318		14,098
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ (1,495)	$ 0	$ (655)	$ 0

Derivative Instruments (Cash Flow Hedges) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivatives In Cash Flow Hedging Relationships [Line Items]
Gains (losses) deferred in other comprehensive income (loss) on the effective portion of cash flow hedges	$ 8,735	$ 4,798	$ 8,948	$ 5,574
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	2,038		1,258
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net	0		7
Interest Rate Swaps
Derivatives In Cash Flow Hedging Relationships [Line Items]
Gains (losses) deferred in other comprehensive income (loss) on the effective portion of cash flow hedges	2,417	4,798	(5,150)	5,574
Investment Related Gains Losses [Member] \| Interest Rate Swaps
Derivatives In Cash Flow Hedging Relationships [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net	0	7	7	1
Investment Related Gains Losses [Member] \| Forward Contracts [Member]
Derivatives In Cash Flow Hedging Relationships [Line Items]
Gains (losses) deferred in other comprehensive income (loss) on the effective portion of cash flow hedges	6,318		14,098
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	1,495	0	655	0
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net	0		0
Investment Income [Member]
Derivatives In Cash Flow Hedging Relationships [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	543		603
Investment Income [Member] \| Interest Rate Swaps
Derivatives In Cash Flow Hedging Relationships [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	231	$ 321	291	$ 539
Investment Income [Member] \| Forward Contracts [Member]
Derivatives In Cash Flow Hedging Relationships [Line Items]
Gains (losses) deferred in other comprehensive income (loss) on the effective portion of cash flow hedges	0		0
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 312		$ 312

Derivative Instruments (Hedges of Net Investments in Foreign Operations) (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2015

Jun. 30, 2014

Jun. 30, 2015

Jun. 30, 2014

Currency Swap [Member]

Derivatives, Fair Value [Line Items]

Net Derivatives Gains (Losses) Deferred in AOCI

^[1],[2]

$ (12,945)

$ (22,335)

$ 37,021

$ 744

[1]	There was no ineffectiveness recognized for the Company’s hedges of net investments in foreign operations.
[2]	There were no sales or substantial liquidations of net investments in foreign operations that would have required the reclassification of gains or losses from accumulated other comprehensive income (loss) into investment income during the periods presented.

Derivative Instruments (Non Hedging Derivatives and Embedded Derivatives Effect on Income Statement) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	$ (16,178)	$ 118,527	$ (8,595)	$ 203,098
Policy acquisition costs and other insurance expenses	(300,412)	(409,374)	(577,455)	(764,247)
Interest credited	(77,246)	(115,962)	(197,924)	(226,556)
Other revenues	66,936	120,726	129,223	188,316
Not Designated as Hedging Instrument
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	(10,677)	60,213	(46,531)	109,732
Not Designated as Hedging Instrument \| Interest Rate Swaps
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	(41,729)	22,251	(12,385)	51,904
Not Designated as Hedging Instrument \| Interest Rate Options
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	0	2,004	3,275	3,286
Not Designated as Hedging Instrument \| Financial Futures
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	(2,183)	(7,684)	(9,514)	(9,268)
Not Designated as Hedging Instrument \| Foreign Currency Forwards
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	(1,433)	1,178	(1,653)	2,332
Not Designated as Hedging Instrument \| Consumer Price Index Swaps
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	168	114	97	467
Not Designated as Hedging Instrument \| Credit Default Swaps
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	(187)	4,783	2,471	2,669
Not Designated as Hedging Instrument \| Equity Options
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	(2,606)	(8,800)	(10,672)	(17,765)
Not Designated as Hedging Instrument \| Longevity Swap [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Other revenues	1,911	0	3,731	0
Not Designated as Hedging Instrument \| Mortality Swap [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Other revenues	(478)	0	(957)	0
Not Designated as Hedging Instrument \| Embedded Derivatives In Modified Coinsurance Or Funds Withheld Arrangements
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	(23,098)	78,835	(25,423)	156,076
Not Designated as Hedging Instrument \| Embedded Derivatives In Indexed Annuity [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Interest credited	8,080	(27,285)	(21,246)	(51,125)
Not Designated as Hedging Instrument \| Embedded Derivatives In Variable Annuity [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	$ 50,878	$ (5,183)	$ 25,745	$ (28,844)

Derivative Instruments (Exposure from Credit Derivatives by Rating of the Underlying Credits) (Details) - USD ($)
$ in Thousands

6 Months Ended

12 Months Ended

Jun. 30, 2015

Dec. 31, 2014

Credit Derivatives [Line Items]

Credit Derivative Current Fair Value

^[1]

$ 7,820

$ 8,187

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 891,700

$ 805,700

Derivative Average Remaining Maturity

^[1],[3]

4 years 9 months

4 years 11 months

Standard Poors AAA To A Minus Ratings [Member] | Single Name Credit Default Swaps [Member]

Credit Derivatives [Line Items]

Credit Derivative Current Fair Value

^[1]

$ 2,250

$ 1,498

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 189,500

$ 167,500

Derivative Average Remaining Maturity

^[1],[3]

4 years 7 months

Standard Poors AAA To A Minus Ratings [Member] | Credit Default Swaps Referencing Indices [Member]

Credit Derivatives [Line Items]

Credit Derivative Current Fair Value

^[1]

$ 0

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

Standard Poors AAA To A Minus Ratings [Member] | Credit Default Subtotal [Member]

Credit Derivatives [Line Items]

Credit Derivative Current Fair Value

^[1]

2,250

1,498

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 189,500

$ 167,500

Derivative Average Remaining Maturity

^[1],[3]

4 years 7 months

Standard Poors BBB Rating [Member] | Single Name Credit Default Swaps [Member]

Credit Derivatives [Line Items]

Credit Derivative Current Fair Value

^[1]

$ (182)

$ 168

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 281,200

$ 217,200

Derivative Average Remaining Maturity

^[1],[3]

4 years 9 months

4 years 11 months

Standard Poors BBB Rating [Member] | Credit Default Swaps Referencing Indices [Member]

Credit Derivatives [Line Items]

Credit Derivative Current Fair Value

^[1]

$ 5,923

$ 6,651

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 416,000

Derivative Average Remaining Maturity

^[1],[3]

5 years

Standard Poors BBB Rating [Member] | Credit Default Subtotal [Member]

Credit Derivatives [Line Items]

Credit Derivative Current Fair Value

^[1]

$ 5,741

$ 6,819

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 697,200

$ 633,200

Derivative Average Remaining Maturity

^[1],[3]

4 years 11 months

Standard & Poor's, BB Rating [Member]

Credit Derivatives [Line Items]

Derivative Average Remaining Maturity

^[1],[2]

4 years

4 years 6 months

Standard & Poor's, BB Rating [Member] | Single Name Credit Default Swaps [Member]

Credit Derivatives [Line Items]

Credit Derivative Current Fair Value

^[1]

$ (171)

$ (130)

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

5,000

Standard & Poor's, BB Rating [Member] | Credit Default Swaps Referencing Indices [Member]

Credit Derivatives [Line Items]

Credit Derivative Current Fair Value

^[1]

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

Standard & Poor's, BB Rating [Member] | Credit Default Subtotal [Member]

Credit Derivatives [Line Items]

Credit Derivative Current Fair Value

^[1]

(171)

(130)

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 5,000

[1]	The rating agency designations are based on ratings from Standard and Poor’s (“S&P”).
[2]	Assumes the value of the referenced credit obligations is zero.
[3]	The weighted average years to maturity of the credit default swaps is calculated based on weighted average notional amounts.

Derivative Instruments (Changes in Estimated Fair Value Related to Embedded Derivatives) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Changes In Estimated Fair Value Related To Embedded Derivatives [Line Items]
Total investment related gains (losses), net	$ (16,178)	$ 118,527	$ (8,595)	$ 203,098
Gain Loss On Investments Related To Change In Fair Value Of Derivatives Excluding Embedded Derivatives	(46,537)	13,846	(25,607)	33,625
Total benefits and expenses	2,416,550	2,532,485	4,753,038	4,990,218
Net income	130,391	198,296	255,505	334,960
Embedded Derivatives In Modified Coinsurance Or Funds Withheld Arrangements
Changes In Estimated Fair Value Related To Embedded Derivatives [Line Items]
Total investment related gains (losses), net	(23,098)	78,835	(25,423)	156,076
Net income	(3,917)	17,962	(6,504)	36,042
Embedded Derivatives In Equity Indexed Annuities [Member]
Changes In Estimated Fair Value Related To Embedded Derivatives [Line Items]
Total benefits and expenses	8,080	(27,285)	(21,246)	(51,125)
Net income	1,233	(15,600)	(14,766)	(33,976)
Embedded Derivatives In Variable Annuity Contracts [Member]
Changes In Estimated Fair Value Related To Embedded Derivatives [Line Items]
Total investment related gains (losses), net	50,878	(5,183)	25,745	(28,844)
Net income	$ 19,608	$ (6,486)	$ 10,198	$ (20,154)

- Definition

This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Derivative Instruments (Credit Exposure of Derivative Contracts) (Details) - USD ($)
$ in Thousands

Jun. 30, 2015

Dec. 31, 2014

Credit Exposure of Derivative Contracts

Estimated fair value of derivatives in net asset (liability) position

$ 169,860

$ 175,209

Derivative, Collateral, Right to Reclaim Cash

^[1]

4,940

Derivative Liability, Fair Value of Collateral

^[2]

54,692

47,222

Derivative, Collateral, Obligation to Return Cash

^[3]

(160,768)

(178,141)

Derivative Asset, Fair Value of Collateral

^[4]

(15,587)

(20,260)

Deposits with Clearing Organizations and Others, Securities

(31,960)

(16,333)

Net credit exposure

21,177

7,697

Margin account related to exchange-traded futures

^[5]

$ 6,283

$ 7,976

[1]	Consists of receivable from counterparty, included in other assets.
[2]	Included in available-for-sale securities, primarily consists of U.S. Treasury securities.
[3]	Included in cash and cash equivalents, with obligation to return cash collateral recorded in other liabilities.
[4]	Consists of U.S. Treasury securities.
[5]	Included in cash and cash equivalents.

Derivative Instruments (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	$ 0.5		$ 0.5
Cumulative Foreign Currency Translation Gain Loss Recorded In Accumulated Other Comprehensive Income Loss For Terminated Net Investment In Foreign Operations Hedges	112.9		112.9		$ 75.8
Embedded Derivative Gain Loss In Financial Statements From Use Of Own Credit Risk	0.2	$ (0.5)	0.2	$ (1.3)
Embedded Derivative Gain Loss On Variable Annuity Contracts In Financial Statements From Use Of Own Credit Risk	$ (1.3)	$ 0.1	$ (0.8)	$ 0.5

Fair Value of Assets and Liabilities Fair Value of Assets and Liabilities (Quantitative Information for Level 3 Inputs) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Percentage Of Fixed Maturity Securities Classified As Level 3	8.10%	8.80%
Corporate Debt Securities [Member] \| Market Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets, Fair Value Disclosure	$ (205,003)	$ (205,392)
Corporate Debt Securities [Member] \| Weighted Average [Member] \| Market Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount for Lack of Marketability	1.00%	1.00%
Corporate Debt Securities [Member] \| Maximum [Member] \| Market Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount for Lack of Marketability	2.00%	2.00%
Corporate Debt Securities [Member] \| Minimum [Member] \| Market Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount for Lack of Marketability	0.00%	0.00%
Longevity Swap [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets, Fair Value Disclosure	$ (10,853)	$ (7,727)
Longevity Swap [Member] \| Weighted Average [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Long-Duration Contracts, Assumptions by Product and Guarantee, Mortality Rate, Low End	2.00%	2.00%
Fair Value Inputs Mortality Improvement	3.00%	3.00%
Longevity Swap [Member] \| Maximum [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Long-Duration Contracts, Assumptions by Product and Guarantee, Mortality Rate, High End	100.00%	100.00%
Fair Value Inputs Mortality Improvement	10.00%	10.00%
Longevity Swap [Member] \| Minimum [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Long-Duration Contracts, Assumptions by Product and Guarantee, Mortality Rate, Low End	0.00%	0.00%
Fair Value Inputs Mortality Improvement	(10.00%)	(10.00%)
Funds Withheld At Interest Embedded Derivatives [Member] \| Total Return Swap [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets, Fair Value Disclosure	$ (3,329)	$ 22,094
Funds Withheld At Interest Embedded Derivatives [Member] \| Weighted Average [Member] \| Total Return Swap [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate, Low End	8.00%	7.00%
Long-Duration Contracts, Assumptions by Product and Guarantee, Mortality Rate, Low End	2.00%	2.00%
Fair Value Inputs Withdrawal	3.00%
Fair Value Inputs, Entity Credit Risk	1.00%	1.00%
Fair Value Inputs Credit Rate	3.00%	3.00%
Funds Withheld At Interest Embedded Derivatives [Member] \| Maximum [Member] \| Total Return Swap [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate, High End	35.00%	35.00%
Long-Duration Contracts, Assumptions by Product and Guarantee, Mortality Rate, High End	100.00%	100.00%
Fair Value Inputs Withdrawal	5.00%	5.00%
Fair Value Inputs, Entity Credit Risk	5.00%	5.00%
Fair Value Inputs Credit Rate	4.00%	4.00%
Funds Withheld At Interest Embedded Derivatives [Member] \| Minimum [Member] \| Total Return Swap [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate, Low End	0.00%	0.00%
Long-Duration Contracts, Assumptions by Product and Guarantee, Mortality Rate, Low End	0.00%	0.00%
Fair Value Inputs Withdrawal	0.00%	0.00%
Fair Value Inputs, Entity Credit Risk	0.00%	0.00%
Fair Value Inputs Credit Rate	2.00%	2.00%
US Government Agencies Debt Securities [Member] \| Market Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets, Fair Value Disclosure	$ (27,359)	$ (28,530)
US Government Agencies Debt Securities [Member] \| Weighted Average [Member] \| Market Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount for Lack of Marketability	1.00%	1.00%
US Government Agencies Debt Securities [Member] \| Maximum [Member] \| Market Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount for Lack of Marketability	1.00%	1.00%
US Government Agencies Debt Securities [Member] \| Minimum [Member] \| Market Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount for Lack of Marketability	0.00%	0.00%
US States and Political Subdivisions Debt Securities [Member] \| Market Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets, Fair Value Disclosure	$ (4,817)	$ (4,994)
US States and Political Subdivisions Debt Securities [Member] \| Weighted Average [Member] \| Market Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount for Lack of Marketability	1.00%	1.00%
US States and Political Subdivisions Debt Securities [Member] \| Maximum [Member] \| Market Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount for Lack of Marketability	1.00%	1.00%
US States and Political Subdivisions Debt Securities [Member] \| Minimum [Member] \| Market Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount for Lack of Marketability	1.00%	1.00%
Embedded Derivatives In Indexed Annuity [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure	$ 935,619	$ 925,887
Embedded Derivatives In Indexed Annuity [Member] \| Weighted Average [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate, Low End	8.00%	7.00%
Long-Duration Contracts, Assumptions by Product and Guarantee, Mortality Rate, Low End	2.00%	2.00%
Fair Value Inputs Withdrawal	3.00%	3.00%
Fair Value Inputs Option Budget Projection	3.00%	3.00%
Embedded Derivatives In Indexed Annuity [Member] \| Maximum [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate, High End	35.00%	35.00%
Long-Duration Contracts, Assumptions by Product and Guarantee, Mortality Rate, High End	100.00%	100.00%
Fair Value Inputs Withdrawal	5.00%	5.00%
Fair Value Inputs Option Budget Projection	4.00%	4.00%
Embedded Derivatives In Indexed Annuity [Member] \| Minimum [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate, Low End	0.00%	0.00%
Long-Duration Contracts, Assumptions by Product and Guarantee, Mortality Rate, Low End	0.00%	0.00%
Fair Value Inputs Withdrawal	0.00%	0.00%
Fair Value Inputs Option Budget Projection	2.00%	2.00%
Embedded Derivatives In Variable Annuity [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure	$ 133,535	$ 159,279
Embedded Derivatives In Variable Annuity [Member] \| Weighted Average [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate, Low End	9.00%	8.00%
Long-Duration Contracts, Assumptions by Product and Guarantee, Mortality Rate, Low End	2.00%	2.00%
Fair Value Inputs Withdrawal	3.00%	3.00%
Embedded Derivatives In Variable Annuity [Member] \| Maximum [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate, High End	25.00%	25.00%
Long-Duration Contracts, Assumptions by Product and Guarantee, Mortality Rate, High End	100.00%	100.00%
Fair Value Inputs Withdrawal	7.00%	7.00%
Embedded Derivatives In Variable Annuity [Member] \| Minimum [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate, Low End	0.00%	0.00%
Long-Duration Contracts, Assumptions by Product and Guarantee, Mortality Rate, Low End	0.00%	0.00%
Fair Value Inputs Withdrawal	0.00%	0.00%
Embedded Derivatives In Variable Annuity Contracts [Member] \| Weighted Average [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Entity Credit Risk	1.00%	1.00%
Fair Value Assumptions, Expected Volatility Rate	14.00%	11.00%
Embedded Derivatives In Variable Annuity Contracts [Member] \| Maximum [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Entity Credit Risk	5.00%	5.00%
Fair Value Assumptions, Expected Volatility Rate	27.00%	27.00%
Embedded Derivatives In Variable Annuity Contracts [Member] \| Minimum [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Entity Credit Risk	0.00%	0.00%
Fair Value Assumptions, Expected Volatility Rate	0.00%	0.00%
Mortality Swap [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure	$ 1,754	$ 797
Mortality Swap [Member] \| Weighted Average [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Long-Duration Contracts, Assumptions by Product and Guarantee, Mortality Rate, Low End	1.00%	1.00%
Mortality Swap [Member] \| Maximum [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Long-Duration Contracts, Assumptions by Product and Guarantee, Mortality Rate, High End	100.00%	100.00%
Mortality Swap [Member] \| Minimum [Member] \| Income Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Long-Duration Contracts, Assumptions by Product and Guarantee, Mortality Rate, Low End	0.00%	0.00%

Fair Value of Assets and Liabilities Fair Value of Assets and Liabilities (Fair Value Assets Transfers between Level 1 and Level 2) (Details) - Corporate Debt Securities [Member] - Available-for-sale Securities [Member]	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Equity, Level 1 to Level 2 Transfers, Description	0	0	625	0
Fair Value, Equity, Level 2 to Level 1 Transfers, Description	31896	10058	36996	10058

Fair Value of Assets and Liabilities Fair Value of Assets and Liabilities (Fair Value Assets Measured on Non-Recurring Basis) (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2015

Jun. 30, 2014

Jun. 30, 2015

Jun. 30, 2014

Mortgage Loans on Real Estate [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value Assets Carrying Value Prior To Impairment

^[1]

$ 5,850

$ 15,660

Fair Value Assets Gains Losses

^[1]

$ (11)

$ (2,037)

(1,656)

Partnership Interest [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value Assets Carrying Value Prior To Impairment

^[2]

13,667

8,889

Fair Value Assets Gains Losses

^[2]

$ 0

$ (4,171)

$ (4,509)

$ (4,171)

[1]

[2]

Fair Value of Assets and Liabilities Fair Value of Assets and Liabilities (Financial Instruments where Carrying Amounts and Fair Values May Differ) (Details) - USD ($)
$ in Thousands

Jun. 30, 2015

Dec. 31, 2014

Jun. 30, 2014

Dec. 31, 2013

Assets

Mortgage loans on real estate (net of valuation allowances)

$ 3,073,313

$ 2,712,238

Policy loans

1,438,156

1,284,284

Funds withheld at interest

5,840,076

5,922,561

Cash and cash equivalents

1,335,661

1,645,669

$ 1,378,117

$ 923,647

Short-term investments

76,118

97,694

Other invested assets

1,110,107

1,198,319

Accrued investment income

322,069

261,096

Liabilities

Interest-sensitive contract liabilities

13,516,059

12,591,497

Long-term debt

2,313,470

2,314,293

Collateral finance and securitization notes

926,410

782,701

Reported Value Measurement [Member]

Assets

Mortgage loans on real estate (net of valuation allowances)

3,073,313

2,712,238

Policy loans

1,438,156

1,284,284

Funds withheld at interest

^[1]

5,840,518

5,897,202

Cash and cash equivalents

^[2]

670,624

745,823

Short-term investments

^[2]

41,385

52,504

Other invested assets

^[2]

374,351

465,720

Accrued investment income

322,069

261,096

Liabilities

Interest-sensitive contract liabilities

^[1]

9,679,250

9,623,596

Long-term debt

2,313,470

Debt, Long-term and Short-term, Combined Amount

2,314,293

Collateral finance and securitization notes

926,410

782,701

Estimate of Fair Value Measurement [Member]

Assets

Mortgage loans on real estate (net of valuation allowances)

3,147,898

2,803,942

Policy loans

1,438,156

1,284,284

Funds withheld at interest

^[1]

6,278,068

6,367,165

Cash and cash equivalents

^[2]

670,624

745,823

Short-term investments

^[2]

41,385

52,504

Other invested assets

^[2]

424,186

518,261

Accrued investment income

322,069

261,096

Liabilities

Interest-sensitive contract liabilities

^[1]

10,083,745

9,666,240

Long-term Debt, Fair Value

2,460,800

Debt, Long-term and Short-term, Combined Amount

2,518,399

Collateral finance and securitization notes

832,750

674,984

Estimate of Fair Value Measurement [Member] | Fair Value Inputs Level 1 Member

Assets

Mortgage loans on real estate (net of valuation allowances)

Policy loans

Funds withheld at interest

^[1]

Cash and cash equivalents

^[2]

670,624

745,823

Short-term investments

^[2]

41,385

52,504

Other invested assets

^[2]

4,916

4,674

Accrued investment income

Liabilities

Interest-sensitive contract liabilities

^[1]

Long-term Debt, Fair Value

Debt, Long-term and Short-term, Combined Amount

Collateral finance and securitization notes

Estimate of Fair Value Measurement [Member] | Fair Value Inputs Level 2 Member

Assets

Mortgage loans on real estate (net of valuation allowances)

Policy loans

1,438,156

1,284,284

Funds withheld at interest

^[1]

Cash and cash equivalents

^[2]

Short-term investments

^[2]

Other invested assets

^[2]

35,006

35,446

Accrued investment income

322,069

261,096

Liabilities

Interest-sensitive contract liabilities

^[1]

Long-term Debt, Fair Value

Debt, Long-term and Short-term, Combined Amount

Collateral finance and securitization notes

Estimate of Fair Value Measurement [Member] | Fair Value Inputs Level 3 Member

Assets

Mortgage loans on real estate (net of valuation allowances)

3,147,898

2,803,942

Policy loans

Funds withheld at interest

^[1]

6,278,068

6,367,165

Cash and cash equivalents

^[2]

Short-term investments

^[2]

Other invested assets

^[2]

384,264

478,141

Accrued investment income

Liabilities

Interest-sensitive contract liabilities

^[1]

10,083,745

9,666,240

Long-term Debt, Fair Value

2,460,800

Debt, Long-term and Short-term, Combined Amount

2,518,399

Collateral finance and securitization notes

$ 832,750

$ 674,984

[1]	Carrying values presented herein differ from those presented in the condensed consolidated balance sheets because certain items within the respective financial statement caption are embedded derivatives and are measured at fair value on a recurring basis.
[2]	Carrying values presented herein differ from those presented in the condensed consolidated balance sheets because certain items within the respective financial statement caption are measured at fair value on a recurring basis.

Fair Value of Assets and Liabilities Fair Value of Assets and Liabilities (Narrative) (Details)	Jun. 30, 2015	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Percentage Of Fixed Maturity Securities Classified As Level 3	8.10%	8.80%

Segment Information (Total Revenues of Reportable Segments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 2,630,340	$ 2,833,020	$ 5,150,953	$ 5,490,193
Americas [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	1,534,023	1,626,475	2,981,986	3,193,788
CANADA
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	281,548	309,113	558,426	586,862
EMEA [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	359,500	391,318	710,108	757,175
Asia Pacific [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	418,390	483,171	831,835	898,200
Corporate and Other [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	36,879	22,943	68,598	54,168
Life Insurance Product Line [Member] \| Americas [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	1,342,248	1,333,027	2,597,538	2,611,719
Life Insurance Product Line [Member] \| CANADA
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	270,090	301,401	535,094	572,845
Life Insurance Product Line [Member] \| EMEA [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	284,192	307,100	579,424	614,850
Life Insurance Product Line [Member] \| Asia Pacific [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	411,314	465,538	805,189	852,427
Nontraditional Long-Duration Contracts [Member] \| Americas [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	191,775	293,448	384,448	582,069
Nontraditional Long-Duration Contracts [Member] \| CANADA
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	11,458	7,712	23,332	14,017
Nontraditional Long-Duration Contracts [Member] \| EMEA [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	75,308	84,218	130,684	142,325
Nontraditional Long-Duration Contracts [Member] \| Asia Pacific [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 7,076	$ 17,633	$ 26,646	$ 45,773

Segment Information (Total Assets of Reportable Segments) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 47,460,271	$ 44,679,611
Americas [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	29,758,824	25,732,075
CANADA
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	3,830,720	3,996,128
EMEA [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	4,650,948	4,693,322
Asia Pacific [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	3,622,467	3,619,368
Corporate and Other [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	5,597,312	6,638,718
Life Insurance Product Line [Member] \| Americas [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	15,904,747	14,159,824
Life Insurance Product Line [Member] \| CANADA
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	3,805,372	3,946,942
Life Insurance Product Line [Member] \| EMEA [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	2,586,327	2,514,868
Life Insurance Product Line [Member] \| Asia Pacific [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	2,997,342	2,951,723
Nontraditional Long-Duration Contracts [Member] \| Americas [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	13,854,077	11,572,251
Nontraditional Long-Duration Contracts [Member] \| CANADA
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	25,348	49,186
Nontraditional Long-Duration Contracts [Member] \| EMEA [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	2,064,621	2,178,454
Nontraditional Long-Duration Contracts [Member] \| Asia Pacific [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 625,125	$ 667,645

Commitments and Contingent Liabilities Commitments and Contingent Liabilities (Commitments to Fund Investments) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Limited Partner [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability	$ 240,386	$ 254,314
Commercial Loan [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability	7,100	33,850
Private Placement [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability	3,300	0
Bank Loans [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability	52,467	52,859
Equity Release Mortgages [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability	$ 8,383	$ 8,549

Commitments and Contingent Liabilities (Credit Facility) (Details) - USD ($)
$ in Thousands

6 Months Ended

12 Months Ended

Jun. 30, 2015

Dec. 31, 2014

Credit Facility One Hundred Million [Member]

Line Of Credit Facility [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

$ 100,000

Maturity Date

June 2017

Amount Utilized

^[1]

$ 76,029

$ 81,747

Basis Of Fees

Fixed

Credit Facility Fifty Three Million [Member]

Line Of Credit Facility [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

^[2]

$ 76,310

Maturity Date

November 2015

Amount Utilized

^[1]

$ 76,310

74,623

Basis Of Fees

Fixed

Credit Facility 270 Million [Member]

Line Of Credit Facility [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

$ 270,000

Maturity Date

November 2017

Amount Utilized

^[1]

$ 270,000

270,000

Basis Of Fees

Fixed

Credit Facility 120 Million [Member]

Line Of Credit Facility [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

$ 120,000

Maturity Date

May 2016

Amount Utilized

^[1]

$ 80,040

80,040

Basis Of Fees

Fixed

Credit Facility 850 Million [Member]

Line Of Credit Facility [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

$ 850,000

Maturity Date

September 2019

Amount Utilized

$ 401,856

^[1]

204,774

Basis Of Fees

Senior unsecured long-term debt rating

Credit Facility One Hundred Fifty Million [Member]

Line Of Credit Facility [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

^[2]

$ 38,535

Maturity Date

March 2019

Amount Utilized

^[1]

$ 51,892

80,961

Basis Of Fees

Fixed

Credit Facility One Hundred Fifty Million [Member]

Line Of Credit Facility [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

$ 150,000

Maturity Date

June 2016

Amount Utilized

^[1]

$ 130,000

130,000

Basis Of Fees

Fixed

Credit Facility Forty Seven Million [Member]

Line Of Credit Facility [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

^[2]

$ 51,892

Maturity Date

May 2016

Amount Utilized

^[1]

$ 26,975

$ 28,612

Basis Of Fees

Fixed

[1]	Represents issued but undrawn letters of credit. There was no cash borrowed for the periods presented.
[2]	Foreign currency facility, amounts presented are in U.S. dollars.

Commitments and Contingent Liabilities Commitments and Contingent Liabilities (Guarantees Issued) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Insurance Treaty Guarantee [Member]
Guarantor Obligations [Line Items]
Guarantor Obligations, Current Carrying Value	$ 790,455	$ 826,496
Insurance Treaty Guarantee Net Of Assets Held In Trust [Member]
Guarantor Obligations [Line Items]
Guarantor Obligations, Current Carrying Value	646,422	664,913
Guarantee Of Borrowed Securities [Member]
Guarantor Obligations [Line Items]
Guarantor Obligations, Current Carrying Value	275,060	201,050
Product Financing Arrangement [Member]
Guarantor Obligations [Line Items]
Guarantor Obligations, Current Carrying Value	100,000	100,000
Guarantee Of Lease Obligations [Member]
Guarantor Obligations [Line Items]
Guarantor Obligations, Current Carrying Value	$ 5,245	$ 6,085

Commitments and Contingent Liabilities Commitments and Contingent Liabilities (Maximum Potential Obligation) (Details) $ in Millions	Jun. 30, 2015 USD ($)
Commitment Period Two Thousand Twenty Three [Member]
Other Commitments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 500
Commitment Period Two Thousand Thirty Three [Member]
Other Commitments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	950
Commitment Period Two Thousand Thirty Four [Member]
Other Commitments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	3,000
Commitment Period Two Thousand Thirty Five [Member]
Other Commitments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	500
Commitment Period Two Thousand Thirty Six [Member]
Other Commitments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 1,432

Commitments and Contingent Liabilities (Narrative) (Details) $ in Millions	Jun. 30, 2015 USD ($) credit_facilities	Dec. 31, 2014 USD ($)
Commitments And Contingent Liabilities [Line Items]
Undrawn outstanding letters of credit in favor of third parties	$ 147.2	$ 176.5
Undrawn outstanding letters of credit between subsidiaries	$ 1,159.5	$ 1,035.0
Number of credit facilities \| credit_facilities	8
Credit Facility 850 Million [Member]
Commitments And Contingent Liabilities [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 850.0
Letter of Credit [Member]
Commitments And Contingent Liabilities [Line Items]
Number of credit facilities \| credit_facilities	7
Line of Credit Facility, Maximum Borrowing Capacity	$ 806.7

Income Tax Income Tax (Provision for Income Tax Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	$ 74,826	$ 105,187	$ 139,270	$ 174,991
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount	(764)	(4,676)	(6,285)	(7,896)
Income Tax Reconciliation Foreign Income Tax Basis Differential	(6,931)	(3,564)	(13,601)	(3,314)
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	4,967	2,510	11,758	(647)
Effective Income Tax Rate Reconciliation, Tax Contingency, Domestic, Amount	952	778	1,905	1,556
Income Tax Reconciliation SubpartF	11,452	3,691	17,886	6,129
Effective Income Tax Rate Reconciliation, Tax Credit, Foreign, Amount	(1,104)	(1,155)	(3,448)	(2,010)
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Amount	(212)	114	(4,977)	(3,237)
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	213	(646)	(98)	(557)
Income Tax Expense (Benefit)	$ 83,399	$ 102,239	$ 142,410	$ 165,015
Effective Income Tax Rate Reconciliation, Percent	39.00%	34.00%	35.80%	33.00%

Employee Benefit Plans (Defined Benefit Plans Disclosure) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2,586	$ 2,489	$ 4,616	$ 3,990
Interest cost	1,283	1,487	2,526	2,295
Expected return on plan assets	(1,331)	(1,302)	(2,449)	(2,235)
Amortization of prior service cost	80	216	163	218
Amortization of prior actuarial loss	833	245	1,272	918
Total	3,451	3,135	6,128	5,186
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	589	470	1,178	940
Interest cost	491	339	982	677
Expected return on plan assets	0	0	0	0
Amortization of prior service cost	0	0	0	0
Amortization of prior actuarial loss	265	217	530	434
Total	$ 1,345	$ 1,026	$ 2,690	$ 2,051

Employee Benefit Plans (Narrative) (Details) $ in Thousands	6 Months Ended
Employee Benefit Plans (Narrative) (Details) $ in Thousands	Jun. 30, 2015 USD ($)
Compensation and Retirement Disclosure [Abstract]
Defined Benefit Plan, Contributions by Employer	$ 4,000
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year	$ 0

Equity Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity compensation expense	$ 3.1	$ 6.4
Stock appreciation rights granted	300,000
Stock appreciation rights granted, weighted average exercise price (per share)	$ 90.06
Performance contingent units	200,000
Shares Granted To Non Employee Directors	15,174
Options exercisable (shares)	1,800,000
Options exercisable, weighted average price (per share)	$ 53.26
Options, remaining term	4 years 11 months
Compensation cost not yet recognized	$ 36.6
Period for recognition	2 years 1 month

Retrocession Arrangements and Reinsurance Ceded Receivables Retrocession Arrangements and Reinsurance Ceded Receivables (Ceded Reinsurance Receivable Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables	$ 711,463	$ 578,206
Reinsurance Recoverables, Percentage of Total	100.00%	100.00%
Other Reinsurers [Member]
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables	$ 153,963	$ 160,285
Reinsurance Recoverables, Percentage of Total	21.60%	27.60%
AM Best, A+ Rating [Member] \| Reinsurer A [Member]
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables	$ 201,915	$ 210,996
Reinsurance Recoverables, Percentage of Total	28.40%	36.50%
AM Best, A+ Rating [Member] \| Reinsurer B [Member]
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables	$ 193,294	$ 45,541
Reinsurance Recoverables, Percentage of Total	27.20%	7.90%
AM Best, A+ Rating [Member] \| Reinsurer C [Member]
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables	$ 73,148	$ 74,412
Reinsurance Recoverables, Percentage of Total	10.30%	12.90%
AM Best, A Rating [Member] \| Reinsurer E [Member]
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables	$ 45,464	$ 43,818
Reinsurance Recoverables, Percentage of Total	6.40%	7.60%
AM Best, A++ Rating [Member] \| Reinsurer D [Member]
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables	$ 43,679	$ 43,154
Reinsurance Recoverables, Percentage of Total	6.10%	7.50%

Retrocession Arrangements and Reinsurance Ceded Receivables (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Ceded Credit Risk [Line Items]
Reinsurance Claims Recoverables	$ 260.1	$ 143.0
Claims Recoverable From Retrocessionaires Past Due	$ 19.6	$ 10.9
AM Best, A- Rating [Member]
Ceded Credit Risk [Line Items]
Ceded Credit Risk, Disclosure	“A- (excellent)”	“A- (excellent)”

Stock Transactions Stock Transactions (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Jul. 31, 2015
Equity, Class of Treasury Stock [Line Items]
Treasury Stock, Shares, Acquired	252,642	2,538,718
Treasury Stock, Value, Acquired, Cost Method	$ 23.5	$ 230.1
Stock Repurchase Program, Authorized Amount	450.0	$ 300.0	$ 150.0
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 46.4

Acquisition (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
Acquisition (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Supplemental Cash Flow Elements [Abstract]
Payments to Acquire Businesses, Gross	$ (191,450)
Noncash or Part Noncash Acquisition, Value of Assets Acquired	3,681,699	$ 0
Noncash or Part Noncash Acquisition, Investments Acquired	3,600,000
Noncash or Part Noncash Acquisition, Value of Liabilities Assumed	$ 3,490,249	$ 0

Financing Activities (Narrative) (Details) $ in Millions	Jun. 30, 2015 USD ($)
Financing Activities [Abstract]
Collateralized Financings	$ 160.6

Investments (Securities Pledged as Collateral Related to Repurchase Reverse Repurchase Program) (Details) $ in Thousands	Jun. 30, 2015 USD ($)
Assets Sold under Agreements to Repurchase [Line Items]
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	$ 313,771
Securities Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	340,201
SecuredBorrowingsGrossDifferenceAmount	26,430
US Treasury Securities [Member]
Assets Sold under Agreements to Repurchase [Line Items]
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	200,531
Residential Mortgage Backed Securities [Member]
Assets Sold under Agreements to Repurchase [Line Items]
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	104,144
Other Debt Obligations [Member]
Assets Sold under Agreements to Repurchase [Line Items]
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	9,096
Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	9,096
Maturity Overnight [Member] \| US Treasury Securities [Member]
Assets Sold under Agreements to Repurchase [Line Items]
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	0
Maturity Overnight [Member] \| Residential Mortgage Backed Securities [Member]
Assets Sold under Agreements to Repurchase [Line Items]
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	0
Maturity Overnight [Member] \| Other Debt Obligations [Member]
Assets Sold under Agreements to Repurchase [Line Items]
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	9,096
Maturity up to 30 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	0
Maturity up to 30 days [Member] \| US Treasury Securities [Member]
Assets Sold under Agreements to Repurchase [Line Items]
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	0
Maturity up to 30 days [Member] \| Residential Mortgage Backed Securities [Member]
Assets Sold under Agreements to Repurchase [Line Items]
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	0
Maturity up to 30 days [Member] \| Other Debt Obligations [Member]
Assets Sold under Agreements to Repurchase [Line Items]
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	0
Maturity 30 to 90 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	23,237
Maturity 30 to 90 Days [Member] \| US Treasury Securities [Member]
Assets Sold under Agreements to Repurchase [Line Items]
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	23,237
Maturity 30 to 90 Days [Member] \| Residential Mortgage Backed Securities [Member]
Assets Sold under Agreements to Repurchase [Line Items]
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	0
Maturity 30 to 90 Days [Member] \| Other Debt Obligations [Member]
Assets Sold under Agreements to Repurchase [Line Items]
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	0
Maturity over 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	281,438
Maturity over 90 days [Member] \| US Treasury Securities [Member]
Assets Sold under Agreements to Repurchase [Line Items]
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	177,294
Maturity over 90 days [Member] \| Residential Mortgage Backed Securities [Member]
Assets Sold under Agreements to Repurchase [Line Items]
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	104,144
Maturity over 90 days [Member] \| Other Debt Obligations [Member]
Assets Sold under Agreements to Repurchase [Line Items]
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	$ 0

Fair Value of Assets and Liabilities Fair Value of Assets and Liabilities (Balances of Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	$ 28,063,975	$ 25,480,972
Funds withheld at interest embedded derivatives	(3,329)	22,094
Cash and cash equivalents	665,037	899,846
Short-term investments	34,733	45,190
Investments, Fair Value Disclosure	469,324	490,590
Other Assets, Fair Value Disclosure	10,853	7,727
Assets, Fair Value Disclosure, Recurring	29,240,593	26,946,419
Fair Value Measured On Recurring Basis Guaranteed Interest Contracts Embedded Derivatives	1,069,154	1,085,166
Liabilities Fair Value Disclosure
Other liabilities		1,127,720
Liabilities, Fair Value Disclosure, Recurring	1,095,323
Nonredeemable Preferred Stock [Member]
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	90,574	99,363
Other equity securities
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	37,094	27,497
Other
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	9,852	6,420
Interest Rate Swaps
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	52,864	84,578
Liabilities Fair Value Disclosure
Other liabilities	16,152	12,957
Interest Rate Options
Assets Fair Value Disclosure
Investments, Fair Value Disclosure		18,195
Foreign Currency Forwards
Liabilities Fair Value Disclosure
Other liabilities	7,422	15,011
Currency Swap [Member]
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	88,303	70,906
Liabilities Fair Value Disclosure
Other liabilities	413
Fair Value Option Contractholder Directed Unit Linked Investments [Member]
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	137,529	140,344
Consumer Price Index Swaps
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	(23)	(561)
Credit Default Swaps
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	8,248	8,606
Liabilities Fair Value Disclosure
Other liabilities	428	419
Equity Option [Member]
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	44,883	35,242
Mortality Swap [Member]
Liabilities Fair Value Disclosure
Other liabilities	1,754	797
Purchase Commitment [Member]
Liabilities Fair Value Disclosure
Other liabilities		13,370
Corporate Debt Securities [Member]
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	16,489,406	14,885,583
Canadian and Canadian provincial governments
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	3,793,807	3,865,265
Residential mortgage-backed securities
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	1,190,879	1,037,896
Asset-backed securities
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	1,062,624	1,069,586
Commercial Mortgage Backed Securities [Member]
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	1,525,469	1,532,591
US Treasury And Government Member
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	1,263,998	525,851
US States and Political Subdivisions Debt Securities [Member]
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	506,172	426,076
Foreign Government Debt Securities [Member]
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	2,231,620	2,138,124
Fair Value Inputs Level 1 Member
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	1,537,021	838,946
Funds withheld at interest embedded derivatives	0	0
Cash and cash equivalents	665,037	899,846
Short-term investments	20,896	21,536
Investments, Fair Value Disclosure	258,002	260,116
Other Assets, Fair Value Disclosure	0	0
Assets, Fair Value Disclosure, Recurring	2,480,956	2,020,444
Fair Value Measured On Recurring Basis Guaranteed Interest Contracts Embedded Derivatives	0	0
Liabilities Fair Value Disclosure
Other liabilities		0
Liabilities, Fair Value Disclosure, Recurring	0
Fair Value Inputs Level 1 Member \| Nonredeemable Preferred Stock [Member]
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	78,186	91,450
Fair Value Inputs Level 1 Member \| Other equity securities
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	37,094	27,497
Fair Value Inputs Level 1 Member \| Other
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	9,852	6,420
Fair Value Inputs Level 1 Member \| Interest Rate Swaps
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	0	0
Liabilities Fair Value Disclosure
Other liabilities	0	0
Fair Value Inputs Level 1 Member \| Interest Rate Options
Assets Fair Value Disclosure
Investments, Fair Value Disclosure		0
Fair Value Inputs Level 1 Member \| Foreign Currency Forwards
Liabilities Fair Value Disclosure
Other liabilities	0	0
Fair Value Inputs Level 1 Member \| Currency Swap [Member]
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	0	0
Liabilities Fair Value Disclosure
Other liabilities	0
Fair Value Inputs Level 1 Member \| Fair Value Option Contractholder Directed Unit Linked Investments [Member]
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	132,870	134,749
Fair Value Inputs Level 1 Member \| Consumer Price Index Swaps
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	0	0
Fair Value Inputs Level 1 Member \| Credit Default Swaps
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	0	0
Liabilities Fair Value Disclosure
Other liabilities	0	0
Fair Value Inputs Level 1 Member \| Equity Option [Member]
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	0	0
Fair Value Inputs Level 1 Member \| Mortality Swap [Member]
Liabilities Fair Value Disclosure
Other liabilities	0	0
Fair Value Inputs Level 1 Member \| Purchase Commitment [Member]
Liabilities Fair Value Disclosure
Other liabilities		0
Fair Value Inputs Level 1 Member \| Corporate Debt Securities [Member]
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	157,790	115,822
Fair Value Inputs Level 1 Member \| Canadian and Canadian provincial governments
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	0	0
Fair Value Inputs Level 1 Member \| Residential mortgage-backed securities
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	0	0
Fair Value Inputs Level 1 Member \| Asset-backed securities
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	0	0
Fair Value Inputs Level 1 Member \| Commercial Mortgage Backed Securities [Member]
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	0	0
Fair Value Inputs Level 1 Member \| US Treasury And Government Member
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	1,111,189	437,129
Fair Value Inputs Level 1 Member \| US States and Political Subdivisions Debt Securities [Member]
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	0	0
Fair Value Inputs Level 1 Member \| Foreign Government Debt Securities [Member]
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	268,042	285,995
Fair Value Inputs Level 2 Member
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	24,250,730	22,392,896
Funds withheld at interest embedded derivatives	0	0
Cash and cash equivalents	0	0
Short-term investments	13,837	23,654
Investments, Fair Value Disclosure	198,934	222,570
Other Assets, Fair Value Disclosure	0	0
Assets, Fair Value Disclosure, Recurring	24,463,501	22,639,120
Fair Value Measured On Recurring Basis Guaranteed Interest Contracts Embedded Derivatives	0	0
Liabilities Fair Value Disclosure
Other liabilities		41,757
Liabilities, Fair Value Disclosure, Recurring	24,415
Fair Value Inputs Level 2 Member \| Nonredeemable Preferred Stock [Member]
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	0	9
Fair Value Inputs Level 2 Member \| Other equity securities
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	0	0
Fair Value Inputs Level 2 Member \| Other
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	0	0
Fair Value Inputs Level 2 Member \| Interest Rate Swaps
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	52,864	84,578
Liabilities Fair Value Disclosure
Other liabilities	16,152	12,957
Fair Value Inputs Level 2 Member \| Interest Rate Options
Assets Fair Value Disclosure
Investments, Fair Value Disclosure		18,195
Fair Value Inputs Level 2 Member \| Foreign Currency Forwards
Liabilities Fair Value Disclosure
Other liabilities	7,422	15,011
Fair Value Inputs Level 2 Member \| Currency Swap [Member]
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	88,303	70,906
Liabilities Fair Value Disclosure
Other liabilities	413
Fair Value Inputs Level 2 Member \| Fair Value Option Contractholder Directed Unit Linked Investments [Member]
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	4,659	5,595
Fair Value Inputs Level 2 Member \| Consumer Price Index Swaps
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	(23)	(561)
Fair Value Inputs Level 2 Member \| Credit Default Swaps
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	8,248	8,606
Liabilities Fair Value Disclosure
Other liabilities	428	419
Fair Value Inputs Level 2 Member \| Equity Option [Member]
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	44,883	35,242
Fair Value Inputs Level 2 Member \| Mortality Swap [Member]
Liabilities Fair Value Disclosure
Other liabilities	0	0
Fair Value Inputs Level 2 Member \| Purchase Commitment [Member]
Liabilities Fair Value Disclosure
Other liabilities		13,370
Fair Value Inputs Level 2 Member \| Corporate Debt Securities [Member]
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	15,094,299	13,459,334
Fair Value Inputs Level 2 Member \| Canadian and Canadian provincial governments
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	3,793,807	3,865,265
Fair Value Inputs Level 2 Member \| Residential mortgage-backed securities
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	892,503	849,802
Fair Value Inputs Level 2 Member \| Asset-backed securities
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	482,114	496,626
Fair Value Inputs Level 2 Member \| Commercial Mortgage Backed Securities [Member]
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	1,447,650	1,445,845
Fair Value Inputs Level 2 Member \| US Treasury And Government Member
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	125,450	60,193
Fair Value Inputs Level 2 Member \| US States and Political Subdivisions Debt Securities [Member]
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	465,986	383,365
Fair Value Inputs Level 2 Member \| Foreign Government Debt Securities [Member]
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	1,948,921	1,832,466
Fair Value Inputs Level 3 Member
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	2,276,224	2,249,130
Funds withheld at interest embedded derivatives	(3,329)	22,094
Cash and cash equivalents	0	0
Short-term investments	0	0
Investments, Fair Value Disclosure	12,388	7,904
Other Assets, Fair Value Disclosure	10,853	7,727
Assets, Fair Value Disclosure, Recurring	2,296,136	2,286,855
Fair Value Measured On Recurring Basis Guaranteed Interest Contracts Embedded Derivatives	1,069,154	1,085,166
Liabilities Fair Value Disclosure
Other liabilities		1,085,963
Liabilities, Fair Value Disclosure, Recurring	1,070,908
Fair Value Inputs Level 3 Member \| Nonredeemable Preferred Stock [Member]
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	12,388	7,904
Fair Value Inputs Level 3 Member \| Other equity securities
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	0	0
Fair Value Inputs Level 3 Member \| Other
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	0	0
Fair Value Inputs Level 3 Member \| Interest Rate Swaps
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	0	0
Liabilities Fair Value Disclosure
Other liabilities	0	0
Fair Value Inputs Level 3 Member \| Interest Rate Options
Assets Fair Value Disclosure
Investments, Fair Value Disclosure		0
Fair Value Inputs Level 3 Member \| Foreign Currency Forwards
Liabilities Fair Value Disclosure
Other liabilities	0	0
Fair Value Inputs Level 3 Member \| Currency Swap [Member]
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	0	0
Liabilities Fair Value Disclosure
Other liabilities	0
Fair Value Inputs Level 3 Member \| Fair Value Option Contractholder Directed Unit Linked Investments [Member]
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	0	0
Fair Value Inputs Level 3 Member \| Consumer Price Index Swaps
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	0	0
Fair Value Inputs Level 3 Member \| Credit Default Swaps
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	0	0
Liabilities Fair Value Disclosure
Other liabilities	0	0
Fair Value Inputs Level 3 Member \| Equity Option [Member]
Assets Fair Value Disclosure
Investments, Fair Value Disclosure	0	0
Fair Value Inputs Level 3 Member \| Mortality Swap [Member]
Liabilities Fair Value Disclosure
Other liabilities	1,754	797
Fair Value Inputs Level 3 Member \| Purchase Commitment [Member]
Liabilities Fair Value Disclosure
Other liabilities		0
Fair Value Inputs Level 3 Member \| Corporate Debt Securities [Member]
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	1,237,317	1,310,427
Fair Value Inputs Level 3 Member \| Canadian and Canadian provincial governments
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	0	0
Fair Value Inputs Level 3 Member \| Residential mortgage-backed securities
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	298,376	188,094
Fair Value Inputs Level 3 Member \| Asset-backed securities
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	580,510	572,960
Fair Value Inputs Level 3 Member \| Commercial Mortgage Backed Securities [Member]
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	77,819	86,746
Fair Value Inputs Level 3 Member \| US Treasury And Government Member
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	27,359	28,529
Fair Value Inputs Level 3 Member \| US States and Political Subdivisions Debt Securities [Member]
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	40,186	42,711
Fair Value Inputs Level 3 Member \| Foreign Government Debt Securities [Member]
Assets Fair Value Disclosure
Fixed maturity securities, available-for-sale	$ 14,657	$ 19,663