Income Tax (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

Pre-tax income for the years ended December 31, 2015, 2014 and 2013 consists of the following (dollars in thousands):



	2015		2014		2013
Pre-tax income - U.S.	$	493,328	$	768,857	$	473,223
Pre-tax income - foreign	251,467		239,676		162,031
Total pre-tax income	$	744,795	$	1,008,533	$	635,254

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision for income tax expense for the years ended December 31, 2015, 2014 and 2013 consists of the following (dollars in thousands):



	2015			2014			2013
Current income tax expense (benefit):
U.S.	$	1,588		$	18,495		$	(48,831	)
Foreign	92,045			135,260			34,470
Total current	93,633			153,755			(14,361		)
Deferred income tax expense (benefit):
U.S.	193,204			242,694			226,771
Foreign	(44,208		)	(71,963		)	4,007
Total deferred	148,996			170,731			230,778
Total provision for income taxes	$	242,629		$	324,486		$	216,417

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

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 years ended December 31, 2015, 2014 and 2013 (dollars in thousands):



	2015			2014			2013
Tax provision at U.S. statutory rate	$	260,678		$	352,987		$	222,339
Increase (decrease) in income taxes resulting from:
Foreign tax rate differing from U.S. tax rate	(9,950		)	(12,483		)	(8,032		)
Differences in tax basis in foreign jurisdictions	(32,472		)	(8,256		)	(26,484		)
Deferred tax valuation allowance	19,157			2,076			26,507
Amounts related to tax audit contingencies	88			(9,083		)	9,034
Corporate rate changes - Canada	—			—			(414		)
Corporate rate changes - other	—			280			(1,184		)
Subpart F	3,473			6,132			8,255
Foreign tax credits	(1,936		)	(1,045		)	(1,786		)
Return to provision adjustments	1,482			(8,123		)	(12,465		)
Other, net	2,109			2,001			647
Total provision for income taxes	$	242,629		$	324,486		$	216,417
Effective tax rate	32.6		%	32.2		%	34.1		%

Schedule Of Income Tax Expense Benefit Intraperiod Tax Allocation [Table Text Block]

Total income taxes for the years ended December 31, 2015, 2014 and 2013 were as follows (dollars in thousands):



	2015			2014			2013
Provision for income taxes	$	242,629		$	324,486		$	216,417
Income tax from OCI and additional paid-in-capital:
Net unrealized holding gain (loss) on debt and equity securities recognized for financial reporting purposes	(339,889		)	348,697			(467,454		)
Exercise of stock options	(2,963		)	3,011			(3,125		)
Foreign currency translation	16,478			22,998			12,330
Unrealized pension and post retirement	1,726			(14,770		)	7,640
Total income taxes provided	$	(82,019	)	$	684,422		$	(234,192	)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The tax effects of temporary differences that give rise to significant portions of the deferred income tax asset and liabilities at December 31, 2015 and 2014, are presented in the following tables (dollars in thousands):



	2015			2014
Deferred income tax assets:
Nondeductible accruals	$	116,106		$	118,389
Differences between tax and financial reporting amounts concerning certain reinsurance transactions	63,543			64,445
Differences in the tax basis of cash and invested assets	5,931			—
Investment income differences	—			56,176
Deferred acquisition costs capitalized for tax	131,714			92,832
Net operating loss carryforward	524,501			170,965
Capital loss and tax credit carryforwards	77,888			26,365
Subtotal	919,683			529,172
Valuation allowance	(127,132		)	(112,005		)
Total deferred income tax assets	792,551			417,167
Deferred income tax liabilities:
Deferred acquisition costs capitalized for financial reporting	1,011,753			961,170
Differences between tax and financial reporting amounts concerning certain reinsurance transactions	1,509,211			1,044,097
Differences in the tax basis of cash and invested assets	336,870			667,601
Investment income differences	14,654			8,187
Differences in foreign currency translation	81,492			64,115
Prepaid expenses	1,014			—
Total deferred income tax liabilities	2,954,994			2,745,170
Net deferred income tax liabilities	$	2,162,443		$	2,328,003
Balance sheet presentation of net deferred income tax liabilities:
Included in other assets	$	55,885		$	37,814
Included in deferred income taxes	2,218,328			2,365,817
Net deferred income tax liabilities	$	2,162,443		$	2,328,003

Summary of Income Tax Contingencies [Table Text Block]

A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2015, 2014 and 2013, is as follows (dollars in thousands):



	Total Unrecognized Tax Benefits
	2015			2014			2013
Beginning balance, January 1	$	274,661		$	279,801		$	245,636
Additions for tax positions of prior years	26,170			17,431			41,228
Reductions for tax positions of prior years	(7,820		)	(26,001		)	(10,401		)
Additions for tax positions of current year	3,396			3,430			3,338
Settlements with tax authorities	(194		)	—			—
Ending balance, December 31	$	296,213		$	274,661		$	279,801