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Investments In Fixed Maturity Securities (Tables)
 3 Months Ended
Mar. 31, 2012
Investments in Fixed Maturity Securities [Abstract]  
Investments In Fixed Maturity Securities
At March 31, 2012 and December 31, 2011, investments in fixed maturity securities were as follows:
 
(Dollars in thousands)
Amortized
Cost
 
Gross Unrealized
 
Fair
Value
 
Carrying
Value
Gains
 
Losses
 
March 31, 2012
 
 
 
 
 
 
 
 
 
Held to maturity:
 
 
 
 
 
 
 
 
 
State and municipal
$
75,473

 
$
12,129

 
$
—

 
$
87,602

 
$
75,473

Residential mortgage-backed
35,223

 
5,757

 
—

 
40,980

 
35,223

Corporate
4,996

 
645

 
—

 
5,641

 
4,996

Total held to maturity
115,692

 
18,531

 
—

 
134,223

 
115,692

Available for sale:
 
 
 
 
 
 
 
 
 
U.S. government and government agency
951,785

 
74,897

 
(420
)
 
1,026,262

 
1,026,262

State and municipal
4,971,415

 
308,993

 
(18,600
)
 
5,261,808

 
5,261,808

Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
Residential (1)
1,380,703

 
55,984

 
(11,365
)
 
1,425,322

 
1,425,322

Commercial
103,852

 
6,185

 
(1,185
)
 
108,852

 
108,852

Corporate
2,487,439

 
146,865

 
(24,024
)
 
2,610,280

 
2,610,280

Foreign
963,007

 
44,260

 
(1,274
)
 
1,005,993

 
1,005,993

Total available for sale
10,858,201

 
637,184

 
(56,868
)
 
11,438,517

 
11,438,517

Total investments in fixed maturity securities
$
10,973,893

 
$
655,715

 
$
(56,868
)
 
$
11,572,740

 
$
11,554,209

December 31, 2011
 
 
 
 
 
 
 
 
 
Held to maturity:
 
 
 
 
 
 
 
 
 
State and municipal
$
74,354

 
$
12,546

 
$
—

 
$
86,900

 
$
74,354

Residential mortgage-backed
35,759

 
5,610

 
—

 
41,369

 
35,759

Corporate
4,996

 
717

 
—

 
5,713

 
4,996

Total held to maturity
115,109

 
18,873

 
—

 
133,982

 
115,109

Available for sale:
 
 
 
 
 
 
 
 
 
U.S. government and government agency
906,924

 
69,920

 
(351
)
 
976,493

 
976,493

State and municipal
5,031,275

 
308,345

 
(16,550
)
 
5,323,070

 
5,323,070

Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
Residential (1)
1,416,427

 
75,635

 
(15,894
)
 
1,476,168

 
1,476,168

Commercial
105,383

 
4,054

 
(1,018
)
 
108,419

 
108,419

Corporate
2,328,200

 
132,311

 
(36,087
)
 
2,424,424

 
2,424,424

Foreign
850,838

 
42,165

 
(4,649
)
 
888,354

 
888,354

Total available for sale
10,639,047

 
632,430

 
(74,549
)
 
11,196,928

 
11,196,928

Total investments in fixed maturity securities
$
10,754,156

 
$
651,303

 
$
(74,549
)
 
$
11,330,910

 
$
11,312,037

___________
(1)
Gross unrealized losses for residential mortgage-backed securities include $5,926,000 and $7,668,000 as of March 31, 2012 and December 31, 2011, respectively, related to the non-credit portion of other-than-temporary impairments (“OTTI”) recognized in other comprehensive income.
The Amortized Cost And Fair Value of Fixed Maturity Securities
The amortized cost and fair value of fixed maturity securities at March 31, 2012, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because certain issuers may have the right to call or prepay obligations.
 
(Dollars in thousands)
Amortized
Cost
 
Fair Value
Due in one year or less
$
746,923

 
$
757,854

Due after one year through five years
3,193,375

 
3,352,319

Due after five years through ten years
2,586,044

 
2,798,238

Due after ten years
2,927,773

 
3,089,175

Mortgage-backed securities
1,519,778

 
1,575,154

Total
$
10,973,893

 
$
11,572,740