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

9 Months Ended

Sep. 30, 2014

Debt Securities [Member]

Schedule of Marketable Securities [Line Items]

Investments In Fixed Maturity Securities

Investments in Fixed Maturity Securities

At September 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
September 30, 2014
Held to maturity:
State and municipal	$	71,897	$	16,991	$	—		$	88,888	$	71,897
Residential mortgage-backed	24,300		2,901		—			27,201		24,300
Corporate	4,999		368		—			5,367		4,999
Total held to maturity	101,196		20,260		—			121,456		101,196
Available for sale:
U.S. government and government agency	787,967		30,296		(5,229		)	813,034		813,034
State and municipal	3,958,141		226,746		(4,819		)	4,180,068		4,180,068
Mortgage-backed securities:
Residential (1)	1,209,068		26,100		(14,209		)	1,220,959		1,220,959
Commercial	76,993		976		(83		)	77,886		77,886
Corporate	4,866,983		191,727		(17,008		)	5,041,702		5,041,702
Foreign	880,959		95,159		(13,207		)	962,911		962,911
Total available for sale	11,780,111		571,004		(54,555		)	12,296,560		12,296,560
Total investments in fixed maturity securities	$	11,881,307	$	591,264	$	(54,555	)	$	12,418,016	$	12,397,756
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 $1,020,000 and $1,961,000 as of September 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.

The amortized cost and fair value of fixed maturity securities at September 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	$	889,062	$	900,273
Due after one year through five years	4,052,836		4,268,705
Due after five years through ten years	3,105,077		3,288,731
Due after ten years	2,523,971		2,634,261
Mortgage-backed securities	1,310,361		1,326,046
Total	$	11,881,307	$	12,418,016

At September 30, 2014, there were no investments, other than investments in United States government and government agency securities, which exceeded 10% of common stockholders’ equity.