Investments In Fixed Maturity Securities (Debt Securities [Member])

9 Months Ended

Sep. 30, 2013

Debt Securities [Member]

Schedule of Marketable Securities [Line Items]

Investments In Fixed Maturity Securities

Investments in Fixed Maturity Securities

At September 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
September 30, 2013
Held to maturity:
State and municipal	$	67,982	$	12,488	$	—		$	80,470	$	67,982
Residential mortgage-backed	28,570		3,845		—			32,415		28,570
Corporate	4,998		470		—			5,468		4,998
Total held to maturity	101,550		16,803		—			118,353		101,550
Available for sale:
U.S. government and government agency	787,326		42,195		(4,462		)	825,059		825,059
State and municipal	3,954,226		185,876		(21,965		)	4,118,137		4,118,137
Mortgage-backed securities:
Residential (1)	1,350,961		33,231		(21,653		)	1,362,539		1,362,539
Commercial	126,036		6,135		(1,245		)	130,926		130,926
Corporate	3,800,276		128,909		(28,713		)	3,900,472		3,900,472
Foreign	1,104,233		81,193		(12,062		)	1,173,364		1,173,364
Total available for sale	11,123,058		477,539		(90,100		)	11,510,497		11,510,497
Total investments in fixed maturity securities	$	11,224,608	$	494,342	$	(90,100	)	$	11,628,850	$	11,612,047
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

___________

(1) Gross unrealized losses for residential mortgage-backed securities include $2,216,000 and $3,037,000 as of September 30, 2013 and December 31, 2012, respectively, related to the non-credit portion of other-than-temporary impairments (“OTTI”) recognized in accumulated other comprehensive income.

The amortized cost and fair value of fixed maturity securities at September 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	$	824,784	$	833,107
Due after one year through five years	3,480,083		3,625,395
Due after five years through ten years	2,927,972		3,091,396
Due after ten years	2,486,202		2,553,072
Mortgage-backed securities	1,505,567		1,525,880
Total	$	11,224,608	$	11,628,850

At September 30, 2013, there were no investments, other than investments in United States government and government agency securities, which exceeded 10% of common stockholders’ equity.