Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense consists of:

(In thousands)	Current Expense			Deferred Expense		Total
December 31, 2015
Domestic	$	179,150		$	31,145	$	210,295
Foreign	(2,318		)	19,946		17,628
Total expense	$	176,832		$	51,091	$	227,923
December 31, 2014
Domestic	$	258,337		$	28,029	$	286,366
Foreign	12,969			3,258		16,227
Total expense	$	271,306		$	31,287	$	302,593
December 31, 2013
Domestic	$	116,802		$	47,370	$	164,172
Foreign	22,362			7,053		29,415
Total expense	$	139,164		$	54,423	$	193,587

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the income tax expense and the amounts computed by applying the Federal and foreign income tax rate of 35% to pre-tax income are as follows:

(In thousands)	2015			2014			2013
Computed “expected” tax expense	$	256,210		$	333,269		$	244,611
Tax-exempt investment income	(39,283		)	(38,757		)	(40,679		)
Change in valuation allowance	2,702			1,335			—
Impact of foreign tax rates	4,447			6,239			(4,851		)
State and local taxes	940			2,375			2,906
Other, net	2,907			(1,868		)	(8,400		)
Total expense	$	227,923		$	302,593		$	193,587

Schedule of Deferred Tax Assets and Liabilities

(In thousands)	2015			2014			2013
Computed “expected” tax expense	$	256,210		$	333,269		$	244,611
Tax-exempt investment income	(39,283		)	(38,757		)	(40,679		)
Change in valuation allowance	2,702			1,335			—
Impact of foreign tax rates	4,447			6,239			(4,851		)
State and local taxes	940			2,375			2,906
Other, net	2,907			(1,868		)	(8,400		)
Total expense	$	227,923		$	302,593		$	193,587

At December 31, 2015 and 2014, the tax effects of differences that give rise to significant portions of the deferred tax asset and deferred tax liability are as follows:

(In thousands)	2015			2014
Deferred tax asset:
Loss reserve discounting	$	100,806		$	77,216
Unearned premiums	176,465			165,075
Other-than-temporary impairments	26,509			45,367
Restricted stock units	62,442			60,061
Other	89,761			101,131
Gross deferred tax asset	455,983			448,850
Less valuation allowance	(4,037		)	(1,335		)
Deferred tax asset	451,946			447,515
Deferred tax liability:
Amortization of intangibles	20,316			22,747
Deferred policy acquisition costs	162,344			152,001
Unrealized investment gains	115,499			175,111
Other	160,598			135,108
Deferred tax liability	458,757			484,967
Net deferred tax asset (liability)	$	(6,811	)	$	(37,452	)