Net Investment Income (Tables)

3 Months Ended

Mar. 31, 2012

Net Investment Income [Table Text Block]

Net investment income consists of the following:



	For the Three Months Ended
	March 31,
(Dollars in thousands)	2012			2011
Investment income earned on:
Fixed maturity securities, including cash and cash equivalents, loans receivable and real estate	$	119,288		$	120,941
Investment funds	27,623			16,387
Arbitrage trading account and funds	6,481			5,215
Equity securities available for sale	3,150			3,264
Real estate	2,176			1,172
Gross investment income	158,718			146,979

Investment expense	(1,099		)	(853		)
Net investment income	$	157,619		$	146,126

- Definition

Tabular disclosure of investment income derived from investments in debt and equity securities consisting of interest income earned from investments in debt securities and on cash and cash equivalents, dividend income from investments in equity securities, and income or expense derived from the amortization of investment related discounts or premiums, respectively. This item does not include realized or unrealized gains or losses on the sale or holding of investments in debt and equity securities required to be included in earnings for the period or for other than temporary losses related to investments in debt and equity securities which are included in realized losses in the period recognized.

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