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Investments In Fixed Maturity Securities (Tables)
 6 Months Ended
Jun. 30, 2012
Investments in Fixed Maturity Securities [Abstract]  
Investments In Fixed Maturity Securities
At June 30, 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
 
June 30, 2012
 
 
 
 
 
 
 
 
 
Held to maturity:
 
 
 
 
 
 
 
 
 
State and municipal
$
76,626

 
$
15,570

 
$
—

 
$
92,196

 
$
76,626

Residential mortgage-backed
34,626

 
5,667

 
—

 
40,293

 
34,626

Corporate
4,996

 
685

 
—

 
5,681

 
4,996

Total held to maturity
116,248

 
21,922

 
—

 
138,170

 
116,248

Available for sale:
 
 
 
 
 
 
 
 
 
U.S. government and government agency
905,046

 
80,624

 
(126
)
 
985,544

 
985,544

State and municipal
4,841,035

 
329,947

 
(16,273
)
 
5,154,709

 
5,154,709

Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
Residential (1)
1,408,119

 
55,356

 
(11,226
)
 
1,452,249

 
1,452,249

Commercial
172,404

 
6,420

 
(105
)
 
178,719

 
178,719

Corporate
2,763,032

 
169,660

 
(19,904
)
 
2,912,788

 
2,912,788

Foreign
969,400

 
61,654

 
(4,383
)
 
1,026,671

 
1,026,671

Total available for sale
11,059,036

 
703,661

 
(52,017
)
 
11,710,680

 
11,710,680

Total investments in fixed maturity securities
$
11,175,284

 
$
725,583

 
$
(52,017
)
 
$
11,848,850

 
$
11,826,928

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 $5,735,000 and $7,668,000 as of June 30, 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 June 30, 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
$
865,253

 
$
882,883

Due after one year through five years
3,287,781

 
3,463,096

Due after five years through ten years
2,494,584

 
2,719,280

Due after ten years
2,912,517

 
3,112,330

Mortgage-backed securities
1,615,149

 
1,671,261

Total
$
11,175,284

 
$
11,848,850