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Investments In Fixed Maturity Securities (Tables)
 12 Months Ended
Dec. 31, 2011
Investments in Fixed Maturity Securities [Abstract]  
Investments In Fixed Maturity Securities
At December 31, 2012 and 2011, investments in fixed maturity securities were as follows:
(In thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
Carrying
Value
December 31, 2012
 

 
 

 
 

 
 

 
 

Held to maturity:
 

 
 

 
 

 
 

 
 

State and municipal
$
65,190

 
$
18,529

 
$
—

 
$
83,719

 
$
65,190

Residential mortgage-backed securities
32,764

 
5,286

 
—

 
38,050

 
32,764

Corporate
4,997

 
605

 
—

 
5,602

 
4,997

Total held to maturity
102,951

 
24,420

 
—

 
127,371

 
102,951

Available for sale:
 
 
 
 
 
 
 
 
 
U.S. government and government agency
827,591

 
72,532

 
(1,660
)
 
898,463

 
898,463

State and municipal
4,449,238

 
328,974

 
(9,693
)
 
4,768,519

 
4,768,519

Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
Residential(1)
1,395,739

 
53,846

 
(7,456
)
 
1,442,129

 
1,442,129

Commercial
268,671

 
5,641

 
(744
)
 
273,568

 
273,568

Corporate
3,144,480

 
214,322

 
(12,083
)
 
3,346,719

 
3,346,719

Foreign
1,029,284

 
83,347

 
(1,024
)
 
1,111,607

 
1,111,607

Total available for sale
11,115,003

 
758,662

 
(32,660
)
 
11,841,005

 
11,841,005

Total investment in fixed maturity securities
$
11,217,954

 
$
783,082

 
$
(32,660
)
 
$
11,968,376

 
$
11,943,956

December 31, 2011
 

 
 

 
 

 
 

 
 

Held to maturity:
 

 
 

 
 

 
 

 
 

State and municipal
$
74,354

 
$
12,546

 
$
—

 
$
86,900

 
$
74,354

Residential mortgage-backed securities
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 investment in fixed maturity securities
$
10,754,156

 
$
651,303

 
$
(74,549
)
 
$
11,330,910

 
$
11,312,037

_______________________________________
(1)
Gross unrealized losses for mortgage-backed securities include $3,037,000 and $7,668,000, as of December 31, 2012 and 2011, respectively, related to the non-credit portion of 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 December 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.
(In thousands)
Amortized
Cost
 
Fair Value
Due in one year or less
$
671,995

 
$
691,130

Due after one year through five years
3,486,501

 
3,669,945

Due after five years through ten years
2,527,716

 
2,801,283

Due after ten years
2,834,568

 
3,052,271

Mortgage-backed securities
1,697,174

 
1,753,747

Total
$
11,217,954

 
$
11,968,376