Investments In Fixed Maturity Securities Investments in Fixed Maturity Securities (Tables)

6 Months Ended

Jun. 30, 2014

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, 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	$	886,256	$	896,523
Due after one year through five years	3,860,527		4,039,960
Due after five years through ten years	3,035,251		3,229,746
Due after ten years	2,492,226		2,606,741
Mortgage-backed securities	1,309,360		1,334,716
Total	$	11,583,620	$	12,107,686

Debt Securities [Member]

Schedule of Marketable Securities [Line Items]

Schedule of investments in fixed maturity securities

At June 30, 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
June 30, 2014
Held to maturity:
State and municipal	$	70,956	$	16,135	$	—		$	87,091	$	70,956
Residential mortgage-backed	25,398		3,182		—			28,580		25,398
Corporate	4,998		314		—			5,312		4,998
Total held to maturity	101,352		19,631		—			120,983		101,352
Available for sale:
U.S. government and government agency	839,914		34,766		(7,553		)	867,127		867,127
State and municipal	4,004,308		221,995		(5,563		)	4,220,740		4,220,740
Mortgage-backed securities:
Residential (1)	1,209,584		29,930		(13,765		)	1,225,749		1,225,749
Commercial	74,378		6,056		(47		)	80,387		80,387
Corporate	4,436,526		206,290		(18,492		)	4,624,324		4,624,324
Foreign	917,558		68,553		(17,735		)	968,376		968,376
Total available for sale	11,482,268		567,590		(63,155		)	11,986,703		11,986,703
Total investments in fixed maturity securities	$	11,583,620	$	587,221	$	(63,155	)	$	12,107,686	$	12,088,055
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

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(1) Gross unrealized losses for residential mortgage-backed securities include $1,208,000 and $1,961,000 as of June 30, 2014 and December 31, 2013, respectively, related to the non-credit portion of other-than-temporary impairments (“OTTI”) recognized in accumulated other comprehensive income.