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Net Investment Income
 6 Months Ended
Jun. 30, 2013
Net Investment Income [Abstract]  
Net Investment Income
Net Investment Income
Net investment income consists of the following: 
 
For the Three Months Ended
 
For the Six Months Ended
 
June 30,
 
June 30,
(In thousands)
2013
 
2012
 
2013
 
2012
Investment income earned on:
 
 
 
 
 
 
 
Fixed maturity securities, including cash and cash equivalents and loans receivable
$
111,203

 
$
119,835

 
$
229,039

 
$
239,123

Investment funds
22,576

 
35,619

 
33,510

 
63,242

Arbitrage trading account
4,990

 
60

 
8,773

 
6,541

Equity securities available for sale
3,634

 
3,829

 
5,881

 
6,979

Real estate
3,116

 
3,348

 
6,257

 
5,524

Gross investment income
145,519

 
162,691

 
283,460

 
321,409

Investment expense
(1,782
)
 
(1,441
)
 
(3,794
)
 
(2,540
)
Net investment income
$
143,737

 
$
161,250

 
$
279,666

 
$
318,869