Realized And Unrealized Investment Gains (Losses)

6 Months Ended

Jun. 30, 2011

Realized And Unrealized Investment Gains (Losses)

Realized And Unrealized Investment Gains (Losses)

(10) Realized and Unrealized Investment Gains

Realized and unrealized investment gains (losses) are as follows:

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
(Dollars in thousands)	2011			2010			2011			2010
Realized investment gains:
Fixed maturity securities:
Gains	$	8,957		$	12,342		$	14,837		$	21,850
Losses		(1,016	)		(2,165	)		(2,509	)		(3,258	)
Equity securities available for sale		14,289			637			38,221			791
Other		—			224			—			224
Sales of investment funds		1,060			496			2,025			421
Provision for OTTI		(400	)		—			(400	)		(2,582	)
Less investment impairments recognized in other comprehensive income		—			—			—			—
Total net investment gains before income taxes		22,890			11,534			52,174			17,446
Income tax expense		(8,554	)		(4,085	)		(19,048	)		(6,154	)
Total net investment gains	$	14,336		$	7,449		$	33,126		$	11,292
Change in unrealized gains (losses) of available for sale securities:
Fixed maturity securities	$	101,205		$	124,287		$	71,918		$	178,322
Less non-credit portion of OTTI recognized in other comprehensive income		(900	)		789			(656	)		1,499
Equity securities available for sale		18,486			(15,538	)		6,101			(12,270	)
Investment funds		816			(3,358	)		4,190			299
Total change in unrealized gains (losses) before income taxes and noncontrolling interests		119,607			106,180			81,553			167,850
Income tax (expense) benefit		(41,672	)		(36,962	)		(28,625	)		(58,563	)
Noncontrolling interests		(68	)		(2	)		(12	)		(8	)
Total change in unrealized gains	$	77,867		$	69,216		$	52,916		$	109,279