At December 31, 2013, the yearly contractual maturities of options tied to the S&P Index were as follows:
| Derivative asset | Derivative liability | ||||
| (S&P purchased | (S&P embedded | ||||
| Year Ending December 31, | options) | options) | |||
| (In thousands) | (In thousands) | ||||
| 2014 | $ | 17,340 | $ | 16,369 | |
| 2015 | 7,330 | 7,359 | |||
| 2016 | 3,375 | 3,186 | |||
| $ | 28,045 | $ | 26,914 | ||