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

3 Months Ended

Mar. 31, 2015

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 March 31, 2015, 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	$	811,966	$	814,139
Due after one year through five years	4,060,941		4,247,879
Due after five years through ten years	3,612,480		3,816,097
Due after ten years	2,449,041		2,571,423
Mortgage-backed securities	1,193,505		1,223,815
Total	$	12,127,933	$	12,673,353

Debt Securities [Member]

Schedule of Marketable Securities [Line Items]

Schedule of investments in fixed maturity securities

At March 31, 2015 and December 31, 2014, investments in fixed maturity securities were as follows:

(In thousands)	Amortized Cost		Gross Unrealized					Fair Value		Carrying Value
			Gains		Losses
March 31, 2015
Held to maturity:
State and municipal	$	73,974	$	17,820	$	—		$	91,794	$	73,974
Residential mortgage-backed	22,300		3,049		—			25,349		22,300
Corporate	4,999		215		—			5,214		4,999
Total held to maturity	101,273		21,084		—			122,357		101,273
Available for sale:
U.S. government and government agency	719,947		34,349		(1,829		)	752,467		752,467
State and municipal	4,220,797		232,353		(4,446		)	4,448,704		4,448,704
Mortgage-backed securities:
Residential (1)	1,100,122		32,147		(6,687		)	1,125,582		1,125,582
Commercial	71,083		1,867		(66		)	72,884		72,884
Corporate	5,022,705		209,711		(19,776		)	5,212,640		5,212,640
Foreign	892,006		64,854		(18,141		)	938,719		938,719
Total available for sale	12,026,660		575,281		(50,945		)	12,550,996		12,550,996
Total investments in fixed maturity securities	$	12,127,933	$	596,365	$	(50,945	)	$	12,673,353	$	12,652,269
December 31, 2014
Held to maturity:
State and municipal	$	72,901	$	17,501	$	—		$	90,402	$	72,901
Residential mortgage-backed	23,278		2,854		—			26,132		23,278
Corporate	4,998		291		—			5,289		4,998
Total held to maturity	101,177		20,646		—			121,823		101,177
Available for sale:
U.S. government and government agency	773,192		33,353		(3,157		)	803,388		803,388
State and municipal	4,137,866		229,150		(4,020		)	4,362,996		4,362,996
Mortgage-backed securities:
Residential (1)	1,201,924		27,124		(9,449		)	1,219,599		1,219,599
Commercial	74,479		1,610		(52		)	76,037		76,037
Corporate	5,036,958		187,960		(24,781		)	5,200,137		5,200,137
Foreign	897,668		62,223		(18,065		)	941,826		941,826
Total available for sale	12,122,087		541,420		(59,524		)	12,603,983		12,603,983
Total investments in fixed maturity securities	$	12,223,264	$	562,066	$	(59,524	)	$	12,725,806	$	12,705,160

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(1) Gross unrealized losses for residential mortgage-backed securities include $1,088,067 and $1,095,671 as of March 31, 2015 and December 31, 2014, respectively, related to the non-credit portion of other-than-temporary impairments (“OTTI”) recognized in accumulated other comprehensive income.