Nature of Operations and Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2012

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Deferred Policy Acquisition Costs [Text Block]

The following table shows the reconciliation of the components of our deferred policy acquisition costs asset, including the related amortization recognized for the nine-month period ended September 30, 2012.



(In Thousands)	Property & Casualty			Life Insurance			Total
Recorded asset at December 31, 2011	$	60,668		$	45,986		$	106,654
Amortization of value of business acquired	(1,674		)	—			(1,674		)
Underwriting costs deferred	104,225			5,018			109,243
Amortization of deferred policy acquisition costs	(96,681		)	(6,542		)	(103,223		)
	$	66,538		$	44,462		$	111,000
Change in "shadow" deferred policy acquisition costs	—			(10,854		)	(10,854		)
Recorded asset at September 30, 2012	$	66,538		$	33,608		$	100,146

- Definition

Disclosure of accounting policy for capitalizing costs incurred to write or acquire insurance contracts, the basis for and methodology for capitalizing such costs, the accounting for such deferred acquisition costs (DAC) when modifications or internal replacements of related insurance contracts occur and the effect on results of operations, and the methodology and amount of amortization. This disclosure addresses the nature, type, and amount of capitalized costs incurred to write or acquire insurance contracts.

+ References+ Details