Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Carrying Amounts and Estimated Fair Values of Financial Insruments

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments as of December 31, 2014 and 2013:

	2014				2013
(In thousands)	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Fixed maturity securities	$	12,705,160	$	12,725,806	$	11,616,844	$	11,631,744
Equity securities available for sale	170,991		170,991		283,338		283,338
Arbitrage trading account	450,648		450,648		522,128		522,128
Loans receivable	322,012		325,219		343,583		346,746
Cash and cash equivalents	674,441		674,441		839,738		839,738
Trading accounts receivable from brokers and clearing organizations	371,034		371,034		304,936		304,936
Due from broker	—		—		17,735		17,735
Liabilities:
Due to broker	23,133		23,133		8,273		8,273
Trading account securities sold but not yet purchased	106,079		106,079		162,278		162,278
Subordinated debentures	340,060		332,640		339,800		288,540
Senior notes and other debt	2,115,527		2,344,292		1,692,442		1,861,898