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Investments In Fixed Maturity Securities (Tables)
 9 Months Ended
Sep. 30, 2012
Investments in Fixed Maturity Securities [Abstract]  
Investments In Fixed Maturity Securities
At September 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
 
September 30, 2012
 
 
 
 
 
 
 
 
 
Held to maturity:
 
 
 
 
 
 
 
 
 
State and municipal
$
64,301

 
$
17,979

 
$
—

 
$
82,280

 
$
64,301

Residential mortgage-backed
34,065

 
5,661

 
—

 
39,726

 
34,065

Corporate
4,997

 
670

 
—

 
5,667

 
4,997

Total held to maturity
103,363

 
24,310

 
—

 
127,673

 
103,363

Available for sale:
 
 
 
 
 
 
 
 
 
U.S. government and government agency
858,190

 
80,406

 
(1,283
)
 
937,313

 
937,313

State and municipal
4,509,239

 
348,413

 
(14,862
)
 
4,842,790

 
4,842,790

Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
Residential (1)
1,458,059

 
61,231

 
(7,976
)
 
1,511,314

 
1,511,314

Commercial
152,816

 
5,430

 
(238
)
 
158,008

 
158,008

Corporate
3,052,275

 
212,664

 
(15,787
)
 
3,249,152

 
3,249,152

Foreign
1,008,266

 
82,826

 
(620
)
 
1,090,472

 
1,090,472

Total available for sale
11,038,845

 
790,970

 
(40,766
)
 
11,789,049

 
11,789,049

Total investments in fixed maturity securities
$
11,142,208

 
$
815,280

 
$
(40,766
)
 
$
11,916,722

 
$
11,892,412

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 $3,251,000 and $7,668,000 as of September 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 September 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
$
877,420

 
$
896,040

Due after one year through five years
3,223,807

 
3,416,358

Due after five years through ten years
2,422,530

 
2,688,914

Due after ten years
2,973,511

 
3,206,362

Mortgage-backed securities
1,644,940

 
1,709,048

Total
$
11,142,208

 
$
11,916,722