Realized And Unrealized Investment Gains (Losses)

9 Months Ended

Sep. 30, 2011

Realized and Unrealized Investment Gains (Losses) [Abstract]

Realized and Unrealized Investment Gains (Losses)

Realized and Unrealized Investment Gains (Losses)

Realized and unrealized investment gains (losses) are as follows:

	For the Three Months Ended						For the Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2011			2010			2011			2010
Realized investment gains:
Fixed maturity securities:
Gains	$	10,212		$	5,669		$	25,049		$	27,519
Losses	(2,207		)	(2,956		)	(4,716		)	(6,214		)
Equity securities available for sale	12,318			2,974			50,539			3,765
Other	—			—			—			224
Sales of investment funds	915			640			2,940			1,061
Provision for OTTI	—			(1,123		)	(400		)	(3,705		)
Less investment impairments recognized in other comprehensive income	—			—			—			—
Total net investment gains before income taxes	21,238			5,204			73,412			22,650
Income tax expense	(7,454		)	(1,840		)	(26,502		)	(7,994		)
Total net investment gains	$	13,784		$	3,364		$	46,910		$	14,656

Change in unrealized gains (losses) of available for sale securities:
Fixed maturity securities	$	115,933		$	163,180		$	187,851		$	341,502
Less non-credit portion of OTTI recognized in other comprehensive income	(1,300		)	(826		)	(1,956		)	673
Equity securities available for sale	(65,861		)	23,570			(59,760		)	11,300
Investment funds	(9,257		)	1,707			(5,067		)	2,006
Total change in unrealized gains (losses) before income taxes and noncontrolling interests	39,515			187,631			121,068			355,481
Income tax expense	(14,268		)	(65,666		)	(42,893		)	(124,229		)
Noncontrolling interests	1			(3		)	(11		)	(11		)
Total change in unrealized gains	$	25,248		$	121,962		$	78,164		$	231,241