Summary of Investments (Tables)

9 Months Ended

Sep. 30, 2017

Investments [Abstract]

Fair Value of Investments

A reconciliation of the amortized cost (cost for equity securities) to fair value of investments in held-to-maturity and available-for-sale fixed maturity and equity securities, presented on a consolidated basis, including both continuing and discontinued operations as of September 30, 2017 and December 31, 2016, is as follows:

September 30, 2017
Type of Investment	Cost or Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
HELD-TO-MATURITY
Fixed maturities:
Bonds
Corporate bonds - financial services	$	150	$	—	$	—	$	150
Mortgage-backed securities	38		1		—		39
Total Held-to-Maturity Fixed Maturities	$	188	$	1	$	—	$	189
AVAILABLE-FOR-SALE
Fixed maturities:
Bonds
U.S. Treasury	$	22,032	$	40	$	91	$	21,981
U.S. government agency	98,523		1,518		516		99,525
States, municipalities and political subdivisions
General obligations:
Midwest	120,549		2,388		499		122,438
Northeast	50,174		1,478		73		51,579
South	142,172		2,463		1,210		143,425
West	113,135		2,474		963		114,646
Special revenue:
Midwest	151,634		3,646		494		154,786
Northeast	79,159		1,061		795		79,425
South	261,141		4,421		2,974		262,588
West	157,622		2,676		1,940		158,358
Foreign bonds	54,300		1,907		—		56,207
Public utilities	201,418		4,538		200		205,756
Corporate bonds
Energy	96,373		2,367		95		98,645
Industrials	209,076		5,323		109		214,290
Consumer goods and services	181,471		5,049		135		186,385
Health care	75,775		2,600		—		78,375
Technology, media and telecommunications	143,024		3,308		193		146,139
Financial services	252,373		6,939		303		259,009

Mortgage-backed securities	14,496		169		179		14,486
Collateralized mortgage obligations
Government national mortgage association	153,896		2,292		1,458		154,730
Federal home loan mortgage corporation	191,246		2,410		3,132		190,524
Federal national mortgage association	106,326		2,240		832		107,734
Asset-backed securities	4,280		345		3		4,622
Total Available-for-Sale Fixed Maturities	$	2,880,195	$	61,652	$	16,194	$	2,925,653
Equity securities:
Common stocks
Public utilities	$	6,394	$	15,750	$	58	$	22,086
Energy	6,514		7,998		106		14,406
Industrials	13,117		49,890		164		62,843
Consumer goods and services	10,070		14,872		154		24,788
Health care	7,763		29,463		—		37,226
Technology, media and telecommunications	6,006		10,215		136		16,085
Financial services	11,630		101,813		73		113,370
Nonredeemable preferred stocks	992		161		—		1,153
Total Available-for-Sale Equity Securities	$	62,486	$	230,162	$	691	$	291,957
Total Available-for-Sale Securities	$	2,942,681	$	291,814	$	16,885	$	3,217,610

December 31, 2016
Type of Investment	Cost or Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
HELD-TO-MATURITY
Fixed maturities:
Bonds
Corporate bonds - financial services	$	150	$	—	$	—	$	150
Mortgage-backed securities	48		1		—		49
Total Held-to-Maturity Fixed Maturities	$	198	$	1	$	—	$	199
AVAILABLE-FOR-SALE
Fixed maturities:
Bonds
U.S. Treasury	$	23,216	$	87	$	108	$	23,195
U.S. government agency	76,692		1,445		540		77,597
States, municipalities and political subdivisions
General obligations:
Midwest	143,747		1,808		1,412		144,143
Northeast	57,731		909		231		58,409
South	129,475		1,249		2,355		128,369
West	114,524		1,380		2,173		113,731
Special revenue:
Midwest	167,430		2,313		1,433		168,310
Northeast	70,202		487		2,624		68,065
South	244,225		1,753		6,791		239,187
West	134,287		1,509		4,052		131,744
Foreign bonds	62,995		2,239		—		65,234
Public utilities	212,360		3,761		447		215,674
Corporate bonds
Energy	107,084		2,195		419		108,860
Industrials	225,526		5,359		982		229,903
Consumer goods and services	178,135		3,847		295		181,687
Health care	81,211		2,063		151		83,123
Technology, media and telecommunications	143,402		2,029		819		144,612
Financial services	269,981		5,328		1,358		273,951
Mortgage-backed securities	17,288		201		241		17,248
Collateralized mortgage obligations
Government national mortgage association	145,947		1,279		2,766		144,460
Federal home loan mortgage corporation	176,226		1,638		3,406		174,458
Federal national mortgage association	101,414		1,816		1,334		101,896
Asset-backed securities	4,407		145		282		4,270
Total Available-for-Sale Fixed Maturities	$	2,887,505	$	44,840	$	34,219	$	2,898,126

Equity securities:
Common stocks
Public utilities	$	6,394	$	13,465	$	188	$	19,671
Energy	6,514		8,555		22		15,047
Industrials	13,252		38,715		173		51,794
Consumer goods and services	10,324		13,851		58		24,117
Health care	7,763		19,657		—		27,420
Technology, media and telecommunications	5,931		9,476		38		15,369
Financial services	17,289		98,728		67		115,950
Nonredeemable preferred stocks	1,037		11		—		1,048
Total Available-for-Sale Equity Securities	$	68,504	$	202,458	$	546	$	270,416
Total Available-for-Sale Securities	$	2,956,009	$	247,298	$	34,765	$	3,168,542

The following table is a reconciliation of the amortized cost (cost for equity securities) to fair value of investments in held-to-maturity and available-for-sale fixed maturity and equity securities for continuing and discontinued operations by investment type at September 30, 2017 and December 31, 2016:

September 30, 2017
Type of Investment	Cost or Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
HELD-TO-MATURITY
Fixed maturities:
Continuing operations	$	150	$	—	$	—	$	150
Discontinued operations	38		1		—		39
Total Held-to-Maturity Fixed Maturities	$	188	$	1	$	—	189
AVAILABLE-FOR-SALE
Fixed maturities:
Continuing operations	$	1,480,730	$	28,606	$	10,674	$	1,498,662
Discontinued operations	1,399,465		33,046		5,520		1,426,991
Total Available-for-Sale Fixed Maturities	$	2,880,195	$	61,652	$	16,194	$	2,925,653
Equity securities:
Continuing operations	$	57,387	$	212,545	$	591	$	269,341
Discontinued operations	5,099		17,617		100		22,616
Total Available-for-Sale Equity Securities	$	62,486	$	230,162	$	691	$	291,957
Total Available-for-Sale Securities	$	2,942,681	$	291,814	$	16,885	$	3,217,610

December 31, 2016
Type of Investment	Cost or Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
HELD-TO-MATURITY
Fixed maturities:
Continuing operations	$	150	$	—	$	—	$	150
Discontinued operations	48		1		—		49
Total Held-to-Maturity Fixed Maturities	$	198	$	1	$	—	$	199
AVAILABLE-FOR-SALE
Fixed maturities:
Continuing operations	$	1,458,235	$	18,725	$	23,674	$	1,453,286
Discontinued operations	1,429,270		26,115		10,545		1,444,840
Total Available-for-Sale Fixed Maturities	2,887,505		44,840		34,219		2,898,126
Equity securities:
Continuing operations	$	59,994	$	186,692	$	316	$	246,370
Discontinued operations	8,510		15,766		230		24,046
Total Available-for-Sale Equity Securities	68,504		202,458		546		270,416
Total Available-for-Sale Securities	$	2,956,009	$	247,298	$	34,765	$	3,168,542

Maturities

The amortized cost and fair value of held-to-maturity, available-for-sale and trading fixed maturity securities at September 30, 2017, by contractual maturity, are shown in the following tables. The first table includes consolidated investments from both continuing and discontinued operations. The second and third tables separate maturities into continuing and discontinued operations. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Asset-backed securities, mortgage-backed securities and collateralized mortgage obligations may be subject to prepayment risk and are therefore not categorized by contractual maturity.

Maturities - Consolidated:
	Held-To-Maturity				Available-For-Sale				Trading
September 30, 2017	Amortized Cost		Fair Value		Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	150	$	150	$	128,884	$	129,945	$	1,401	$	1,821
Due after one year through five years	—		—		782,192		803,774		6,979		8,233
Due after five years through 10 years	—		—		751,756		771,205		1,302		1,185
Due after 10 years	—		—		747,119		748,633		2,151		2,434
Asset-backed securities	—		—		4,280		4,622		—		—
Mortgage-backed securities	38		39		14,496		14,486		—		—
Collateralized mortgage obligations	—		—		451,468		452,988		—		—
	$	188	$	189	$	2,880,195	$	2,925,653	$	11,833	$	13,673

Maturities - Continuing Operations:
	Held-To-Maturity				Available-For-Sale				Trading
September 30, 2017	Amortized Cost		Fair Value		Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	150	$	150	$	54,340	$	54,762	$	1,401	$	1,821
Due after one year through five years	—		—		224,804		230,986		6,979		8,233
Due after five years through 10 years	—		—		344,553		354,308		1,302		1,185
Due after 10 years	—		—		675,795		676,310		2,151		2,434
Asset-backed securities	—		—		3,174		3,517		—		—
Mortgage-backed securities	—		—		9,664		9,783		—		—
Collateralized mortgage obligations	—		—		168,400		168,996		—		—
	$	150	$	150	$	1,480,730	$	1,498,662	$	11,833	$	13,673

Maturities - Discontinued Operations:
	Held-To-Maturity				Available-For-Sale				Trading
September 30, 2017	Amortized Cost		Fair Value		Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	—	$	—	$	74,544	$	75,183	$	—	$	—
Due after one year through five years	—		—		557,388		572,788		—		—
Due after five years through 10 years	—		—		407,203		416,897		—		—
Due after 10 years	—		—		71,324		72,323		—		—
Asset-backed securities	—		—		1,107		1,105		—		—
Mortgage-backed securities	38		39		4,832		4,703		—		—
Collateralized mortgage obligations	—		—		283,067		283,992		—		—
	$	38	$	39	$	1,399,465	$	1,426,991	$	—	$	—

Net Realized Investment Gains and Losses

A summary of the components of net realized investment gains (losses) is as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017		2016
Net realized investment gains (losses) from continuing operations:
Fixed maturities:
Available-for-sale	$	118		$	484		$	645	$	898
Trading securities
Change in fair value	(43		)	148			504		519
Sales	72			107			117		568
Equity securities:
Available-for-sale	3			1,375			1,553		2,359
Trading securities
Change in fair value	(124		)	(5		)	232		325
Sales	41			20			57		(6		)
Cash equivalents	—			—			—		169
Real estate	—			—			289		—
Total net realized investment gains from continuing operations	$	67		$	2,129		$	3,397	$	4,832
Total net realized investment gains from discontinued operations	296			461			3,600		1,409
Total net realized investment gains	$	363		$	2,590		$	6,997	$	6,241

Proceeds and Gross Realized Gains and Losses

The proceeds and gross realized gains on the sale of available-for-sale fixed maturity securities from continuing operations are as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Proceeds from sales	$	2,293	$	—	$	3,388	$	1,968
Gross realized gains	—		—		1,046		921
Gross realized losses	—		—		—		—

The proceeds and gross realized gains on the sale of available-for-sale fixed maturity securities from discontinued operations are as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017			2016
Proceeds from sales	$	1,844	$	2,007	$	5,807		$	3,081
Gross realized gains	—		11		1,254			65
Gross realized losses	—		—		(78		)	—

Unrealized Investment Appreciation

A summary of the changes in net unrealized investment appreciation during the reporting period is as follows:

	Nine Months Ended September 30,
	2017			2016
Change in net unrealized investment appreciation
Available-for-sale fixed maturities	$	34,837		$	83,498
Available-for-sale equity securities	27,559			15,459
Deferred policy acquisition costs	(3,582		)	(19,857		)
Income tax effect	(20,584		)	(27,685		)
Total change in net unrealized investment appreciation, net of tax	$	38,230		$	51,415

Investments in Unrealized Loss Position

September 30, 2017	Less than 12 months					12 months or longer					Total
Type of Investment	Number of Issues	Fair Value		Gross Unrealized Depreciation		Number of Issues	Fair Value		Gross Unrealized Depreciation		Fair Value		Gross Unrealized Depreciation
AVAILABLE-FOR-SALE
Fixed maturities:
Bonds
U.S. Treasury	3	$	8,920	$	44	3	$	2,829	$	47	$	11,749	$	91
U.S. government agency	8	33,607		306		3	12,789		210		46,396		516
States, municipalities and political subdivisions
General obligations
Midwest	3	4,343		46		3	19,742		453		24,085		499
Northeast	—	—		—		1	3,587		73		3,587		73
South	7	14,594		56		11	27,919		1,154		42,513		1,210
West	2	3,600		29		8	25,333		934		28,933		963
Special revenue
Midwest	2	3,990		10		7	19,034		484		23,024		494
Northeast	6	27,751		312		9	15,275		483		43,026		795
South	13	32,415		433		27	66,978		2,541		99,393		2,974
West	8	20,369		135		22	55,836		1,805		76,205		1,940
Public utilities	2	3,201		52		4	7,491		148		10,692		200
Corporate bonds
Energy	2	6,166		13		1	1,807		82		7,973		95
Industrials	—	—		—		2	4,271		109		4,271		109
Consumer goods and services	5	7,469		62		2	5,097		73		12,566		135
Technology, media and telecommunications	6	15,263		88		2	8,384		105		23,647		193
Financial services	11	21,623		163		1	7,243		140		28,866		303
Mortgage-backed securities	11	4,411		43		3	4,790		136		9,201		179
Collateralized mortgage obligations
Government national mortgage association	16	40,243		439		13	38,573		1,019		78,816		1,458
Federal home loan mortgage corporation	16	64,647		1,166		12	42,472		1,966		107,119		3,132
Federal national mortgage association	13	35,709		496		6	10,008		336		45,717		832
Asset-backed securities	1	997		3		—	—		—		997		3
Total Available-for-Sale Fixed Maturities	135	$	349,318	$	3,896	140	$	379,458	$	12,298	$	728,776	$	16,194
Equity securities:
Common stocks
Public utilities	—	$	—	$	—	1	$	250	$	58	$	250	$	58
Energy	2	546		102		1	182		4		728		106
Industrials	1	106		6		5	141		158		247		164
Consumer goods and services	—	—		—		4	178		154		178		154
Technology, media and telecommunications	2	445		115		1	4		21		449		136
Financial services	1	30		25		2	165		48		195		73
Total Available-for-Sale Equity Securities	6	$	1,127	$	248	14	$	920	$	443	$	2,047	$	691
Total Available-for-Sale Securities	141	$	350,445	$	4,144	154	$	380,378	$	12,741	$	730,823	$	16,885

December 31, 2016	Less than 12 months					12 months or longer					Total
Type of Investment	Number of Issues	Fair Value		Gross Unrealized Depreciation		Number of Issues	Fair Value		Gross Unrealized Depreciation		Fair Value		Gross Unrealized Depreciation
AVAILABLE-FOR-SALE
Fixed maturities:
Bonds
U.S. Treasury	9	$	10,800	$	108	—	$	—	$	—	$	10,800	$	108
U.S. government agency	10	36,593		540		—	—		—		36,593		540
States, municipalities and political subdivisions
General obligations
Midwest	27	40,545		1,412		—	—		—		40,545		1,412
Northeast	9	9,874		231		—	—		—		9,874		231
South	37	53,699		2,355		—	—		—		53,699		2,355
West	30	55,265		2,173		—	—		—		55,265		2,173
Special revenue
Midwest	41	62,937		1,433		—	—		—		62,937		1,433
Northeast	22	54,993		2,624		—	—		—		54,993		2,624
South	79	152,979		6,791		—	—		—		152,979		6,791
West	44	81,676		4,052		—	—		—		81,676		4,052
Public utilities	20	38,511		423		2	2,122		24		40,633		447
Corporate bonds
Energy	8	15,938		313		3	8,232		106		24,170		419
Industrials	24	42,854		596		3	5,641		386		48,495		982
Consumer goods and services	11	21,059		295		—	—		—		21,059		295
Health care	9	20,918		151		—	—		—		20,918		151
Technology, media and telecommunications	16	41,230		516		3	10,241		303		51,471		819
Financial services	37	75,286		1,358		—	—		—		75,286		1,358
Mortgage-backed securities	16	9,611		187		5	1,198		54		10,809		241
Collateralized mortgage obligations
Government national mortgage association	36	82,430		2,261		9	13,603		505		96,033		2,766
Federal home loan mortgage corporation	41	105,775		3,165		3	5,141		241		110,916		3,406
Federal national mortgage association	27	46,633		1,091		4	4,341		243		50,974		1,334
Asset-backed securities	1	971		29		1	2,559		253		3,530		282
Total Available-for-Sale Fixed Maturities	554	$	1,060,577	$	32,104	33	$	53,078	$	2,115	$	1,113,655	$	34,219
Equity securities:
Common stocks
Public utilities	—	$	—	$	—	3	$	120	$	188	$	120	$	188
Energy	—	—		—		1	163		22		163		22
Industrials	—	—		—		6	239		173		239		173
Consumer goods and services	3	282		55		2	15		3		297		58
Technology, media and telecommunications	7	26		5		8	33		33		59		38
Financial services	3	53		3		2	150		64		203		67
Total Available-for-Sale Equity Securities	13	$	361	$	63	22	$	720	$	483	$	1,081	$	546
Total Available-for-Sale Securities	567	$	1,060,938	$	32,167	55	$	53,798	$	2,598	$	1,114,736	$	34,765

The tables on the following pages are a reconciliation for continuing and discontinued operations of our total fixed maturity and equity securities that were in an unrealized loss position at September 30, 2017 and December 31, 2016. The securities are presented by the length of time they have been continuously in an unrealized loss position:

September 30, 2017	Less than 12 months					12 months or longer					Total
Type of Investment	Number of Issues	Fair Value		Gross Unrealized Depreciation		Number of Issues	Fair Value		Gross Unrealized Depreciation		Fair Value		Gross Unrealized Depreciation
AVAILABLE-FOR-SALE
Fixed maturities:
Continuing operations	85	$	206,874	$	2,059	101	$	259,297	$	8,615	$	466,171	$	10,674
Discontinued operations	50	142,444		1,837		39	120,161		3,683		262,605		5,520
Total Available-for-Sale Fixed Maturities	135	$	349,318	$	3,896	140	$	379,458	$	12,298	$	728,776	$	16,194
Equity securities:
Continuing operations	6	$	1,127	$	248	10	$	540	$	343	$	1,667	$	591
Discontinued operations	—	—		—		4	380		100		380		100
Total Available-for-Sale Equity Securities	6	$	1,127	$	248	14	$	920	$	443	$	2,047	$	691
Total Available-for-Sale Securities	141	$	350,445	$	4,144	154	$	380,378	$	12,741	$	730,823	$	16,885

December 31, 2016	Less than 12 months					12 months or longer					Total
Type of Investment	Number of Issues	Fair Value		Gross Unrealized Depreciation		Number of Issues	Fair Value		Gross Unrealized Depreciation		Fair Value		Gross Unrealized Depreciation
AVAILABLE-FOR-SALE
Fixed maturities:
Continuing operations	404	$	654,235	$	23,359	12	$	6,288	$	315	$	660,523	$	23,674
Discontinued operations	150	406,342		8,745		21	46,790		1,800		453,132		10,545
Total Available-for-Sale Fixed Maturities	554	$	1,060,577	$	32,104	33	$	53,078	$	2,115	$	1,113,655	$	34,219
Equity securities:
Continuing operations	12	$	351	$	62	17	$	477	$	254	$	828	$	316
Discontinued operations	1	10		1		5	243		229		253		230
Total Available-for-Sale Equity Securities	13	$	361	$	63	22	$	720	$	483	$	1,081	$	546
Total Available-for-Sale Securities	567	$	1,060,938	$	32,167	55	$	53,798	$	2,598	$	1,114,736	$	34,765