Investments In Fixed Maturity Securities (Tables)

6 Months Ended

Jun. 30, 2013

Schedule of Marketable Securities [Line Items]

Amortized cost and fair value of fixed maturity securities by contractual maturity

The amortized cost and fair value of fixed maturity securities at June 30, 2013, 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	$	900,989	$	925,233
Due after one year through five years	3,555,283		3,697,764
Due after five years through ten years	2,686,863		2,853,103
Due after ten years	2,490,039		2,582,858
Mortgage-backed securities	1,568,860		1,593,424
Total	$	11,202,034	$	11,652,382

Debt Securities [Member]

Schedule of Marketable Securities [Line Items]

Schedule of investments in fixed maturity securities

At June 30, 2013 and December 31, 2012, investments in fixed maturity securities were as follows:

(In thousands)	Amortized Cost		Gross Unrealized					Fair Value		Carrying Value
			Gains		Losses
June 30, 2013
Held to maturity:
State and municipal	$	67,092	$	12,680	$	—		$	79,772	$	67,092
Residential mortgage-backed	29,661		4,010		—			33,671		29,661
Corporate	4,997		514		—			5,511		4,997
Total held to maturity	101,750		17,204		—			118,954		101,750
Available for sale:
U.S. government and government agency	799,530		46,703		(2,131		)	844,102		844,102
State and municipal	3,961,116		203,398		(17,262		)	4,147,252		4,147,252
Mortgage-backed securities:
Residential (1)	1,361,874		35,711		(18,885		)	1,378,700		1,378,700
Commercial	177,325		4,915		(1,187		)	181,053		181,053
Corporate	3,749,727		134,148		(23,013		)	3,860,862		3,860,862
Foreign	1,050,712		77,600		(6,853		)	1,121,459		1,121,459
Total available for sale	11,100,284		502,475		(69,331		)	11,533,428		11,533,428
Total investments in fixed maturity securities	$	11,202,034	$	519,679	$	(69,331	)	$	11,652,382	$	11,635,178
December 31, 2012
Held to maturity:
State and municipal	$	65,190	$	18,529	$	—		$	83,719	$	65,190
Residential mortgage-backed	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 investments in fixed maturity securities	$	11,217,954	$	783,082	$	(32,660	)	$	11,968,376	$	11,943,956

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(1) Gross unrealized losses for residential mortgage-backed securities include $2,515,000 and $3,037,000 as of June 30, 2013 and December 31, 2012, respectively, related to the non-credit portion of other-than-temporary impairments (“OTTI”) recognized in other comprehensive income.