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Investments Investments (Tables)
 9 Months Ended
Sep. 30, 2012
Investments [Abstract]  
Investment Holdings, Schedule of Investments [Table Text Block]
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
 
(Dollars in thousands)
September 30, 2012
 
 
 
 
 
 
 
Fixed maturity securities:
 
 
 
 
 
 
 
Available for sale:
 
 
 
 
 
 
 
United States Government full faith and credit
$
4,590

 
$
615

 
$
—

 
$
5,205

United States Government sponsored agencies
1,939,562

 
19,661

 
(486
)
 
1,958,737

United States municipalities, states and territories
3,096,008

 
475,456

 
(2
)
 
3,571,462

Foreign government obligations
81,126

 
17,699

 
—

 
98,825

Corporate securities
11,652,586

 
1,617,343

 
(26,930
)
 
13,242,999

Residential mortgage backed securities
2,433,080

 
173,881

 
(41,002
)
 
2,565,959

Commercial mortgage backed securities
78,682

 
260

 
(30
)
 
78,912

Other asset backed securities
850,380

 
39,876

 
(1,863
)
 
888,393

 
$
20,136,014

 
$
2,344,791

 
$
(70,313
)
 
$
22,410,492

Held for investment:
 
 
 
 
 
 
 
Corporate security
$
76,048

 
$
—

 
$
(12,289
)
 
$
63,759

Equity securities, available for sale:
 
 
 
 
 
 
 
Finance, insurance, and real estate
$
50,597

 
$
12,164

 
$
(1,157
)
 
$
61,604

 
 
 
 
 
 
 
 
December 31, 2011
 
 
 
 
 
 
 
Fixed maturity securities:
 
 
 
 
 
 
 
Available for sale:
 
 
 
 
 
 
 
United States Government full faith and credit
$
4,084

 
$
594

 
$
—

 
$
4,678

United States Government sponsored agencies
1,780,401

 
19,378

 
—

 
1,799,779

United States municipalities, states and territories
2,981,699

 
351,694

 
(10
)
 
3,333,383

Foreign government obligations
60,809

 
7,766

 
(242
)
 
68,333

Corporate securities
9,092,737

 
1,078,511

 
(79,992
)
 
10,091,256

Residential mortgage backed securities
2,618,040

 
157,331

 
(72,081
)
 
2,703,290

Other asset backed securities
442,509

 
26,492

 
(5,611
)
 
463,390

 
$
16,980,279

 
$
1,641,766

 
$
(157,936
)
 
$
18,464,109

Held for investment:
 
 
 
 
 
 
 
United States Government sponsored agencies
$
2,568,274

 
$
16,806

 
$
—

 
$
2,585,080

Corporate security
75,932

 
—

 
(16,590
)
 
59,342

 
$
2,644,206

 
$
16,806

 
$
(16,590
)
 
$
2,644,422

Equity securities, available for sale:
 
 
 
 
 
 
 
Finance, insurance, and real estate
$
58,438

 
$
8,752

 
$
(4,345
)
 
$
62,845
Investments Classified by Contractual Maturity Date [Table Text Block]
 
Available for sale
 
Held for investment
 
Amortized
Cost
 
Fair Value
 
Amortized
Cost
 
Fair Value
 
(Dollars in thousands)
Due in one year or less
$
41,968

 
$
43,181

 
$
—

 
$
—

Due after one year through five years
623,552

 
700,154

 
—

 
—

Due after five years through ten years
3,868,878

 
4,262,988

 
—

 
—

Due after ten years through twenty years
5,294,593

 
5,820,676

 
—

 
—

Due after twenty years
6,944,881

 
8,050,229

 
76,048

 
63,759

 
16,773,872

 
18,877,228

 
76,048

 
63,759

Residential mortgage backed securities
2,433,080

 
2,565,959

 
—

 
—

Commercial mortgage backed securities
78,682

 
78,912

 
—

 
—

Other asset backed securities
850,380

 
888,393

 
—

 
—

 
$
20,136,014

 
$
22,410,492

 
$
76,048

 
$
63,759
Schedule of Components of Net Unrealized Gain/(Loss) on Availabe-for-sale Fixed Maturity and Equity Securities Reported as Seperate Component of Stockholders' Equity [Table Text Block]
 
September 30,
2012
 
December 31,
2011
 
(Dollars in thousands)
Net unrealized gains on available for sale fixed maturity securities and equity securities
$
2,285,485

 
$
1,488,237

Adjustments for assumed changes in amortization of deferred policy acquisition costs and deferred sales inducements
(1,224,482
)
 
(819,476
)
Deferred income tax valuation allowance reversal
22,534

 
22,534

Deferred income tax benefit
(371,351
)
 
(234,066
)
Net unrealized gains reported as accumulated other comprehensive income
$
712,186

 
$
457,229
Schedule of Credit Quality of Fixed Maturity Security Portfolio by NAIC Designation [Table Text Block]
 
 
September 30, 2012
 
December 31, 2011
NAIC
Designation
 
Amortized Cost

 
Fair Value
 
Amortized Cost
 
Fair Value
 
 
(Dollars in thousands)
1
 
$
13,007,318

 
$
14,591,003

 
$
14,359,272

 
$
15,486,571

2
 
6,846,088

 
7,538,539

 
4,894,739

 
5,272,759

3
 
319,697

 
304,463

 
335,642

 
315,406

4
 
31,719

 
32,361

 
26,674

 
23,989

5
 
4,451

 
4,006

 
4,932

 
5,756

6
 
2,789

 
3,879

 
3,226

 
4,050

 
 
$
20,212,062

 
$
22,474,251

 
$
19,624,485

 
$
21,108,531
Schedule of Unrealized Loss on Investments [Table Text Block]
 
Less than 12 months
 
12 months or more
 
Total
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
(Dollars in thousands)
September 30, 2012
 
 
 
 
 
 
 
 
 
 
 
Fixed maturity securities:
 
 
 
 
 
 
 
 
 
 
 
Available for sale:
 
 
 
 
 
 
 
 
 
 
 
United States Government sponsored agencies
$
483,280

 
$
(486
)
 
$
—

 
$
—

 
$
483,280

 
$
(486
)
United States municipalities, states and territories
271

 
(2
)
 
—

 
—

 
271

 
(2
)
Corporate securities:
 
 
 
 
 
 
 
 
 
 
 
Finance, insurance and real estate
139,777

 
(2,670
)
 
130,932

 
(10,981
)
 
270,709

 
(13,651
)
Manufacturing, construction and mining
118,741

 
(1,445
)
 
20,948

 
(2,315
)
 
139,689

 
(3,760
)
Utilities and related sectors
63,822

 
(549
)
 
50,043

 
(7,868
)
 
113,865

 
(8,417
)
Wholesale/retail trade
12,368

 
(447
)
 
9,900

 
(561
)
 
22,268

 
(1,008
)
Services, media and other
5,929

 
(94
)
 
—

 
—

 
5,929

 
(94
)
Residential mortgage backed securities
168,342

 
(7,091
)
 
404,344

 
(33,911
)
 
572,686

 
(41,002
)
Commercial mortgage backed securities
18,419

 
(30
)
 
—

 
—

 
18,419

 
(30
)
Other asset backed securities
25,250

 
(448
)
 
31,027

 
(1,415
)
 
56,277

 
(1,863
)
 
$
1,036,199

 
$
(13,262
)
 
$
647,194

 
$
(57,051
)
 
$
1,683,393

 
$
(70,313
)
Held for investment:
 
 
 
 
 
 
 
 
 
 
 
Corporate security:
 
 
 
 
 
 
 
 
 
 
 
Insurance
$
—

 
$
—

 
$
63,759

 
$
(12,289
)
 
$
63,759

 
$
(12,289
)
 
 
 
 
 
 
 
 
 
 
 
 
Equity securities, available for sale:
 
 
 
 
 
 
 
 
 
 
 
Services, media and other
$
8,968

 
$
(1,157
)
 
$
—

 
$
—

 
$
8,968

 
$
(1,157
)
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2011
 
 
 
 
 
 
 
 
 
 
 
Fixed maturity securities:
 
 
 
 
 
 
 
 
 
 
 
Available for sale:
 
 
 
 
 
 
 
 
 
 
 
United States municipalities, states and territories
$
3,535

 
$
(10
)
 
$
—

 
$
—

 
$
3,535

 
$
(10
)
Foreign government obligations
—

 
—

 
14,282

 
(242
)
 
14,282

 
(242
)
Corporate securities:
 
 
 
 
 
 
 
 
 
 
 
Finance, insurance and real estate
363,909

 
(36,575
)
 
146,354

 
(15,611
)
 
510,263

 
(52,186
)
Manufacturing, construction and mining
201,762

 
(7,131
)
 
15,593

 
(1,627
)
 
217,355

 
(8,758
)
Utilities and related sectors
174,251

 
(7,576
)
 
37,778

 
(6,946
)
 
212,029

 
(14,522
)
Wholesale/retail trade
15,523

 
(188
)
 
9,275

 
(1,194
)
 
24,798

 
(1,382
)
Services, media and other
27,688

 
(249
)
 
17,105

 
(2,895
)
 
44,793

 
(3,144
)
Residential mortgage backed securities
295,352

 
(19,920
)
 
709,612

 
(52,161
)
 
1,004,964

 
(72,081
)
Other asset backed securities
115,542

 
(2,863
)
 
15,550

 
(2,748
)
 
131,092

 
(5,611
)
 
$
1,197,562

 
$
(74,512
)
 
$
965,549

 
$
(83,424
)
 
$
2,163,111

 
$
(157,936
)
Held for investment:
 
 
 
 
 
 
 
 
 
 
 
Corporate security:
 
 
 
 
 
 
 
 
 
 
 
Insurance
$
—

 
$
—

 
$
59,342

 
$
(16,590
)
 
$
59,342

 
$
(16,590
)
 


 


 


 


 


 


Equity securities, available for sale:
 
 
 
 
 
 
 
 
 
 
 
Finance, insurance and real estate
$
20,028

 
$
(3,095
)
 
$
3,750

 
$
(1,250
)
 
$
23,778

 
$
(4,345
)
Unrealized Gain (Loss) on Investments [Table Text Block]
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2012
 
2011
 
2012
 
2011
 
 
 
 
 
(Dollars in thousands)
Fixed maturity securities held for investment carried at amortized cost
$
(626
)
 
$
22,325

 
$
(12,505
)
 
$
51,727

Investments carried at fair value:
 
 
 
 
 
 
 
Fixed maturity securities, available for sale
$
402,274

 
$
1,094,823

 
$
790,648

 
$
1,245,506

Equity securities, available for sale
2,963

 
(1,212
)
 
6,600

 
1,428

 
405,237

 
1,093,611

 
797,248

 
1,246,934

Adjustment for effect on other balance sheet accounts:
 
 
 
 
 
 
 
Deferred policy acquisition costs and deferred sales inducements
(201,676
)
 
(584,029
)
 
(405,006
)
 
(673,257
)
Deferred income tax asset
(71,247
)
 
(178,354
)
 
(137,285
)
 
(200,787
)
 
(272,923
)
 
(762,383
)
 
(542,291
)
 
(874,044
)
Increase in net unrealized gains on investments carried at fair value
$
132,314

 
$
331,228

 
$
254,957

 
$
372,890
Realized Gain (Loss) on Investments [Table Text Block]
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2012
 
2011
 
2012
 
2011
 
(Dollars in thousands)
Available for sale fixed maturity securities:
 
 
 
 
 
 
 
Gross realized gains
$
3,028

 
$
169

 
$
8,076

 
$
4,711

Gross realized losses
(180
)
 
—

 
(535
)
 
(1,423
)
 
2,848

 
169

 
7,541

 
3,288

Equity securities:
 
 
 
 
 
 
 
Gross realized gains
—

 
—

 
562

 
966

Other investments:
 
 
 
 
 
 
 
Gain (loss) on sale of real estate
53

 
—

 
2,948

 
—

Impairment losses on real estate
(830
)
 
—

 
(3,473
)
 
(12
)
 
(777
)
 
—

 
(525
)
 
(12
)
Mortgage loans on real estate:
 
 
 
 
 
 
 
Increase in allowance for credit losses
(3,309
)
 
(17,461
)
 
(15,503
)
 
(23,581
)
 
$
(1,238
)
 
$
(17,292
)
 
$
(7,925
)
 
$
(19,339
)
Significant Assumptions in Determining Credit Loss Component of Other Than Temporary Impairments on Residential Mortgage Backed Scurities [Table Text Block]
 
 
 
 
Discount Rate
 
Default Rate
 
Loss Severity
Sector
 
Vintage
 
Min
 
Max
 
Min
 
Max
 
Min
 
Max
Nine months ended September 30, 2012
Prime
 
2005
 
6.5
%
 
7.7
%
 
9
%
 
18
%
 
50
%
 
50
%
 
 
2006
 
5.8
%
 
7.4
%
 
9
%
 
19
%
 
40
%
 
55
%
 
 
2007
 
6.2
%
 
7.3
%
 
11
%
 
38
%
 
40
%
 
60
%
Alt-A
 
2005
 
5.6
%
 
8.7
%
 
12
%
 
27
%
 
5
%
 
55
%
 
 
2006
 
6.0
%
 
6.0
%
 
32
%
 
46
%
 
55
%
 
60
%
 
 
2007
 
6.2
%
 
7.0
%
 
31
%
 
55
%
 
55
%
 
60
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine months ended September 30, 2011
Prime
 
2005
 
5.8
%
 
7.7
%
 
6
%
 
13
%
 
45
%
 
55
%
 
 
2006
 
6.4
%
 
7.6
%
 
8
%
 
14
%
 
45
%
 
60
%
 
 
2007
 
5.8
%
 
7.9
%
 
8
%
 
30
%
 
40
%
 
60
%
Alt-A
 
2005
 
5.8
%
 
7.7
%
 
11
%
 
25
%
 
5
%
 
55
%
 
 
2006
 
6.0
%
 
6.5
%
 
23
%
 
33
%
 
50
%
 
55
%
 
 
2007
 
6.2
%
 
7.4
%
 
29
%
 
41
%
 
50
%
 
70
%
Other Than Temporary Impairment by Asset Type [Table Text Block]
 
Number
of
Securities

 
Total OTTI
Losses

 
Portion of OTTI Losses Recognized from Other Comprehensive Income
 
Net OTTI Losses
Recognized in Operations

 
 
 
(Dollars in thousands)
Three months ended September 30, 2012
 
 
 
 
 
 
 
Fixed maturity securities, available for sale:
 
 
 
 
 
 
 
Residential mortgage backed securities
4

 
$
—

 
$
(1,686
)
 
$
(1,686
)
Three months ended September 30, 2011
 
 
 
 
 
 
 
Fixed maturity securities, available for sale:
 
 
 
 
 
 
 
Residential mortgage backed securities
37

 
$
(5,133
)
 
$
(3,758
)
 
$
(8,891
)
Nine months ended September 30, 2012
 
 
 
 
 
 
 
Fixed maturity securities, available for sale:
 
 
 
 
 
 
 
Residential mortgage backed securities
24

 
$
(2,156
)
 
$
(3,389
)
 
$
(5,545
)
Nine months ended September 30, 2011
 
 
 
 
 
 
 
Fixed maturity securities, available for sale:
 
 
 
 
 
 
 
Residential mortgage backed securities
47

 
$
(10,346
)
 
$
(7,345
)
 
$
(17,691
)
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block]
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2012
 
2011
 
2012
 
2011
 
(Dollars in thousands)
Cumulative credit loss at beginning of period
$
(122,954
)
 
$
(104,480
)
 
$
(119,095
)
 
$
(96,893
)
Credit losses on securities for which OTTI has not previously been recognized
—

 
(1,243
)
 
(47
)
 
(2,032
)
Additional credit losses on securities for which OTTI has previously been recognized
(1,686
)
 
(7,648
)
 
(5,498
)
 
(15,659
)
Accumulated losses on securities that were disposed of during the period
—

 
—

 
—

 
1,213

Cumulative credit loss at end of period
$
(124,640
)
 
$
(113,371
)
 
$
(124,640
)
 
$
(113,371
)
Schedule of Temporary Impairment Losses, Investments [Table Text Block]
 
Amortized Cost
 
OTTI
Recognized in
Other
Comprehensive
Income
 
Change in Fair
Value Since
OTTI was
Recognized
 
Fair Value
 
(Dollars in thousands)
September 30, 2012
 
 
 
 
 
 
 
Fixed maturity securities, available for sale:
 
 
 
 
 
 
 
Corporate securities
$
3,515

 
$
(2,151
)
 
$
5,651

 
$
7,015

Residential mortgage backed securities
899,116

 
(183,737
)
 
166,604

 
881,983

Equity securities, available for sale:
 
 
 
 
 
 
 
Finance, insurance and real estate
9,976

 
—

 
11,501

 
21,477

 
$
912,607

 
$
(185,888
)
 
$
183,756

 
$
910,475

December 31, 2011
 
 
 
 
 
 
 
Fixed maturity securities, available for sale:
 
 
 
 
 
 
 
Corporate securities
$
3,347

 
$
(2,151
)
 
$
4,818

 
$
6,014

Residential mortgage backed securities
999,024

 
(187,126
)
 
125,502

 
937,400

Equity securities, available for sale:
 
 
 
 
 
 
 
Finance, insurance and real estate
12,019

 
—

 
8,110

 
20,129

 
$
1,014,390

 
$
(189,277
)
 
$
138,430

 
$
963,543