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

3 Months Ended

Mar. 31, 2014

Debt Securities [Member]

Schedule of Marketable Securities [Line Items]

Investments In Fixed Maturity Securities

Investments in Fixed Maturity Securities

At March 31, 2014 and December 31, 2013, investments in fixed maturity securities were as follows:

(In thousands)	Amortized Cost		Gross Unrealized					Fair Value		Carrying Value
			Gains		Losses
March 31, 2014
Held to maturity:
State and municipal	$	69,928	$	14,266	$	—		$	84,194	$	69,928
Residential mortgage-backed	26,409		3,211		—			29,620		26,409
Corporate	4,998		361		—			5,359		4,998
Total held to maturity	101,335		17,838		—			119,173		101,335
Available for sale:
U.S. government and government agency	905,005		35,029		(9,177		)	930,857		930,857
State and municipal	4,079,397		188,879		(11,244		)	4,257,032		4,257,032
Mortgage-backed securities:
Residential (1)	1,270,514		26,194		(19,090		)	1,277,618		1,277,618
Commercial	65,077		6,626		(413		)	71,290		71,290
Corporate	4,281,162		176,594		(20,557		)	4,437,199		4,437,199
Foreign	866,569		59,665		(15,088		)	911,146		911,146
Total available for sale	11,467,724		492,987		(75,569		)	11,885,142		11,885,142
Total investments in fixed maturity securities	$	11,569,059	$	510,825	$	(75,569	)	$	12,004,315	$	11,986,477
December 31, 2013
Held to maturity:
State and municipal	$	68,929	$	11,172	$	—		$	80,101	$	68,929
Residential mortgage-backed	27,393		3,311		—			30,704		27,393
Corporate	4,998		417		—			5,415		4,998
Total held to maturity	101,320		14,900		—			116,220		101,320
Available for sale:
U.S. government and government agency	858,319		34,522		(7,982		)	884,859		884,859
State and municipal	4,085,791		162,330		(29,837		)	4,218,284		4,218,284
Mortgage-backed securities:
Residential (1)	1,248,693		25,895		(25,941		)	1,248,647		1,248,647
Commercial	76,454		5,670		(988		)	81,136		81,136
Corporate	4,076,585		156,256		(30,100		)	4,202,741		4,202,741
Foreign	844,469		51,674		(16,286		)	879,857		879,857
Total available for sale	11,190,311		436,347		(111,134		)	11,515,524		11,515,524
Total investments in fixed maturity securities	$	11,291,631	$	451,247	$	(111,134	)	$	11,631,744	$	11,616,844

___________

(1) Gross unrealized losses for residential mortgage-backed securities include $1,402,000 and $1,961,000 as of March 31, 2014 and December 31, 2013, 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 March 31, 2014, 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	$	856,512	$	870,324
Due after one year through five years	3,648,617		3,797,781
Due after five years through ten years	3,121,394		3,292,088
Due after ten years	2,580,536		2,665,594
Mortgage-backed securities	1,362,000		1,378,528
Total	$	11,569,059	$	12,004,315

At March 31, 2014, there were no investments, other than investments in United States government and government agency securities, which exceeded 10% of common stockholders’ equity.