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Investments (Tables)
 9 Months Ended
Sep. 30, 2015
Investments [Line Items]  
Schedule of Held-to-maturity Securities
September 30, 2015
 
 
 
 
 
 
 
 
 
 
 
 
($ in thousands)
 
Amortized
Cost
 
Net
 Unrealized Gains
 (Losses)
 
Carrying
Value
 
Unrecognized
 Holding
Gains
 
Unrecognized Holding
 Losses
 
Fair
Value
Obligations of states and political subdivisions
 
$
205,443

 
1,108

 
206,551

 
7,423

 
—

 
213,974

Corporate securities
 
18,147

 
(241
)
 
17,906

 
2,467

 
—

 
20,373

Asset-backed securities (“ABS”)
 
1,209

 
(157
)
 
1,052

 
158

 
—

 
1,210

Commercial mortgage-backed securities (“CMBS”)
 
4,656

 
(296
)
 
4,360

 
471

 
—

 
4,831

Total HTM fixed income securities
 
$
229,455

 
414

 
229,869

 
10,519

 
—

 
240,388

December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
($ in thousands)
 
Amortized
Cost
 
Net
 Unrealized Gains
 (Losses)
 
Carrying
Value
 
Unrecognized
 Holding
Gains
 
Unrecognized Holding
 Losses
 
Fair
Value
Foreign government
 
$
5,292

 
47

 
5,339

 
55

 
—

 
5,394

Obligations of states and political subdivisions
 
285,301

 
2,071

 
287,372

 
11,760

 
—

 
299,132

Corporate securities
 
18,899

 
(273
)
 
18,626

 
2,796

 
—

 
21,422

ABS
 
2,818

 
(455
)
 
2,363

 
460

 
—

 
2,823

CMBS
 
4,869

 
(432
)
 
4,437

 
753

 
—

 
5,190

Total HTM fixed income securities
 
$
317,179

 
958

 
318,137

 
15,824

 
—

 
333,961

 
Schedule of Available-for-sale Securities
September 30, 2015
 
 
 
 
 
 
 
 
($ in thousands)
 
Cost/
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
AFS fixed income securities:
 
 
 
 
 
 
 
 
U.S. government and government agencies
 
$
109,062

 
6,069

 
(1
)
 
115,130

Foreign government
 
19,030

 
657

 
—

 
19,687

Obligations of states and political subdivisions
 
1,303,188

 
35,552

 
(545
)
 
1,338,195

Corporate securities
 
1,859,834

 
35,222

 
(8,882
)
 
1,886,174

ABS
 
255,716

 
1,312

 
(105
)
 
256,923

CMBS1
 
220,009

 
2,450

 
(457
)
 
222,002

Residential mortgage-backed
securities (“RMBS”)2
 
506,932

 
7,400

 
(1,397
)
 
512,935

Total AFS fixed income securities
 
4,273,771

 
88,662

 
(11,387
)
 
4,351,046

AFS equity securities:
 
 
 
 
 
 
 
 
Common stock
 
208,995

 
13,542

 
(12,340
)
 
210,197

Preferred stock
 
11,825

 
46

 
(117
)
 
11,754

Total AFS equity securities
 
220,820

 
13,588

 
(12,457
)
 
221,951

Total AFS securities
 
$
4,494,591

 
102,250

 
(23,844
)
 
4,572,997

 
December 31, 2014
 
 
 
 
 
 
 
 
($ in thousands)
 
Cost/
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
AFS fixed income securities:
 
 
 
 
 
 
 
 
U.S. government and government agencies
 
$
116,666

 
7,592

 
(128
)
 
124,130

Foreign government
 
27,035

 
796

 
—

 
27,831

Obligations of states and political subdivisions
 
1,208,776

 
38,217

 
(729
)
 
1,246,264

Corporate securities
 
1,763,427

 
42,188

 
(5,809
)
 
1,799,806

ABS
 
176,837

 
760

 
(373
)
 
177,224

CMBS1
 
177,932

 
2,438

 
(777
)
 
179,593

RMBS2
 
505,113

 
8,587

 
(2,426
)
 
511,274

Total AFS fixed income securities
 
3,975,786

 
100,578

 
(10,242
)
 
4,066,122

AFS equity securities:
 
 
 
 
 
 
 
 
Common stock
 
159,011

 
32,725

 
(336
)
 
191,400

Total AFS equity securities
 
159,011

 
32,725

 
(336
)
 
191,400

Total AFS securities
 
$
4,134,797

 
133,303

 
(10,578
)
 
4,257,522



1 CMBS includes government guaranteed agency securities with a fair value of $7.4 million at September 30, 2015 and $13.2 million at December 31, 2014.
2 RMBS includes government guaranteed agency securities with a fair value of $22.5 million at September 30, 2015 and $32.4 million at December 31, 2014.
Schedule of Fair Value and Gross Pre-Tax Net Unrealized/Unrecognized Loss of Securities by Length of Time
September 30, 2015
 
Less than 12 months
 
12 months or longer
($ in thousands)
 
Fair Value
 
Unrealized
Losses1
 
Fair Value
 
Unrealized
Losses1
AFS fixed income securities:
 
 

 
 

 
 

 
 

U.S. government and government agencies
 
$
—

 
—

 
399

 
(1
)
Obligations of states and political subdivisions
 
96,861

 
(545
)
 
—

 
—

Corporate securities
 
430,481

 
(7,187
)
 
50,552

 
(1,695
)
ABS
 
55,856

 
(71
)
 
12,530

 
(34
)
CMBS
 
59,004

 
(367
)
 
15,561

 
(90
)
RMBS
 
95,254

 
(457
)
 
65,417

 
(940
)
Total AFS fixed income securities
 
737,456

 
(8,627
)
 
144,459

 
(2,760
)
AFS equity securities:
 
 
 
 
 
 
 
 
Common stock
 
133,601

 
(12,340
)
 
—

 
—

Preferred stock
 
8,562

 
(117
)
 
—

 
—

Total AFS equity securities
 
142,163

 
(12,457
)
 
—

 
—

Subtotal
 
$
879,619

 
(21,084
)
 
144,459

 
(2,760
)

 
 
Less than 12 months
 
12 months or longer
($ in thousands)
 
Fair
Value
 
Unrealized
Losses1
 
Unrecognized
Gains2
 
Fair
Value
 
Unrealized
Losses1
 
Unrecognized
Gains2
HTM securities:
 
 

 
 

 
 

 
 

 
 

 
 

   ABS
 
$
—

 
—

 
—

 
942

 
(157
)
 
153

Subtotal
 
$
—

 
—

 
—

 
942

 
(157
)
 
153

Total AFS and HTM
 
$
879,619

 
(21,084
)
 
—

 
145,401

 
(2,917
)
 
153


December 31, 2014
 
Less than 12 months
 
12 months or longer
($ in thousands)
 
Fair
Value
 
Unrealized
Losses1
 
Fair Value
 
Unrealized
Losses1
AFS fixed income securities:
 
 

 
 

 
 

 
 

U.S. government and government agencies
 
$
7,567

 
(13
)
 
10,866

 
(115
)
Obligations of states and political subdivisions
 
47,510

 
(105
)
 
64,018

 
(624
)
Corporate securities
 
276,648

 
(1,734
)
 
153,613

 
(4,075
)
ABS
 
113,202

 
(178
)
 
15,618

 
(195
)
CMBS
 
12,799

 
(34
)
 
59,219

 
(743
)
RMBS
 
3,399

 
(8
)
 
138,724

 
(2,418
)
Total AFS fixed income securities
 
461,125

 
(2,072
)
 
442,058

 
(8,170
)
AFS equity securities:
 
 
 
 
 
 
 
 
Common stock
 
5,262

 
(336
)
 
—

 
—

Total AFS equity securities
 
5,262

 
(336
)
 
—

 
—

Subtotal
 
$
466,387

 
(2,408
)
 
442,058

 
(8,170
)
 
 
 
Less than 12 months
 
12 months or longer
($ in thousands)
 
Fair
Value
 
Unrealized
Losses1
 
Unrecognized
Gains2
 
Fair
Value
 
Unrealized
Losses1
 
Unrecognized
Gains2
HTM securities:
 
 

 
 

 
 

 
 

 
 

 
 

  Obligations of states and political subdivisions
 
$
196

 
(3
)
 
1

 
—

 
—

 
—

  ABS
 
—

 
—

 
—

 
2,235

 
(455
)
 
439

Subtotal
 
196

 
(3
)
 
1

 
2,235

 
(455
)
 
439

Total AFS and HTM
 
$
466,583

 
(2,411
)
 
1

 
444,293

 
(8,625
)
 
439

 1 Gross unrealized losses include non-OTTI unrealized amounts and OTTI losses recognized in AOCI.  In addition, this column includes remaining unrealized gain or loss amounts on securities that were transferred to an HTM designation in the first quarter of 2009 for those securities that are in a net unrealized/unrecognized loss position.
2 Unrecognized gains represent fair value fluctuations from the later of:  (i) the date a security is designated as HTM; or (ii) the date that an OTTI charge is recognized on an HTM security.
Schedule of The Number Of Securities In An Unrealized Unrecognized Loss Position
($ in thousands)
 
 
September 30, 2015
 
December 31, 2014
Number of
Issues
% of Market/Book
Unrealized/
Unrecognized Loss
 
Number of
Issues
% of Market/Book
Unrealized/
Unrecognized Loss
389

80% - 99%
$
21,841

 
350

80% - 99%
$
10,596

4

60% - 79%
2,007

 
—

60% - 79%
—

—

40% - 59%
—

 
—

40% - 59%
—

—

20% - 39%
—

 
—

20% - 39%
—

—

0% - 19%
—

 
—

0% - 19%
—

 

 
$
23,848

 
 

 
$
10,596

 
We do not intend to sell any of the securities in the tables above, nor do we believe we will be required to sell any of these securities. We have also reviewed these securities under our OTTI policy, as described in Note 2. “Summary of Significant Accounting Policies” within Item 8. “Financial Statements and Supplementary Data.” of our 2014 Annual Report, and have concluded that they are temporarily impaired. This conclusion reflects our current judgment as to the financial position and future prospects of the entity that issued the investment security and underlying collateral. If our judgment about an individual security changes in the future, we may ultimately record a credit loss after having originally concluded that one did not exist, which could have a material impact on our net income and financial position in future periods.
Schedule of Other Investment Portfolio By Strategy And Remaining Commitment Amount Associated With Each Strategy
Other Investments
 
Carrying Value
 
September 30, 2015
($ in thousands)
 
September 30,
2015
 
December 31,
2014
 
Remaining Commitment
Alternative Investments
 
 

 
 

 
 

  Secondary private equity
 
$
17,503

 
21,807

 
7,095

  Private equity
 
15,792

 
20,126

 
23,826

  Energy/power generation
 
11,643

 
14,445

 
16,857

  Real estate
 
8,854

 
11,452

 
9,919

  Mezzanine financing
 
6,948

 
9,853

 
13,383

  Distressed debt
 
6,889

 
8,679

 
3,048

  Venture capital
 
6,539

 
6,606

 
150

Total alternative investments
 
74,168

 
92,968

 
74,278

Other securities
 
10,978

 
6,235

 
2,269

Total other investments
 
$
85,146

 
99,203

 
76,547
Schedule of Aggregated Summarized Income Statement Financial Information For Partnerships In Our Alternative Investment Portfolio
Income Statement Information
 
Quarter ended June 30,
 
Nine months ended June 30,
($ in millions)
 
2015

2014
 
2015
 
2014
Net investment income
 
$
44.1


81.3

 
$
139.6

 
167.0

Realized gains (losses)
 
385.2


(26.1
)
 
977.7

 
171.5

Net change in unrealized (depreciation) appreciation
 
(222.2
)

628.6

 
(1,089.0
)
 
1,471.0

Net income
 
$
207.1


683.8

 
$
28.3

 
1,809.5

Selective’s insurance subsidiaries’ other investments income (loss)
 
$
1.3


3.9

 
$
(0.8
)
 
12.7


 
Schedule of Securities Pledged As Collateral
($ in millions)
 
FHLBI Collateral
 
Reinsurance Collateral
 
State and Regulatory Deposits
 
Total
U.S. government and government agencies
 
$
7.7

 
—

 
24.4

 
32.1

Obligations of states and political subdivisions
 
—

 
5.0

 
—

 
5.0

Corporate securities
 
—

 
4.8

 
—

 
4.8

CMBS
 
1.4

 
—

 
—

 
1.4

RMBS
 
55.5

 
1.9

 
—

 
57.4

Total pledged as collateral
 
$
64.6

 
11.7


24.4


100.7
Schedule of Net Investment Income Earned
 
 
Quarter ended September 30,
 
Nine Months ended September 30,
($ in thousands)
 
2015
 
2014
 
2015
 
2014
Fixed income securities
 
$
30,601


30,706

 
$
92,227

 
95,515

Equity securities
 
2,370


1,909

 
6,546

 
5,094

Short-term investments
 
24


15

 
72

 
48

Other investments
 
1,337


3,906

 
(781
)
 
12,677

Investment expenses
 
(2,271
)

(2,244
)
 
(6,856
)
 
(6,734
)
Net investment income earned
 
$
32,061

 
34,292

 
$
91,208

 
106,600
Schedule of OTTI By Asset Type
Third Quarter 2015
 
Gross 
 
Included in Other Comprehensive Income ("OCI")
 
Recognized in
Earnings
($ in thousands) 
 
 
 
AFS fixed income securities:
 
 
 
 
 
 
Corporate securities
 
$
253

 
—

 
253

Total AFS fixed income securities
 
253

 
—

 
253

AFS equity securities:
 
 
 
 
 
 
Common stock
 
1,029

 
—

 
1,029

Total AFS equity securities
 
1,029

 
—

 
1,029

Total OTTI losses
 
$
1,282

 
—

 
1,282




Nine Months 2015
 
Gross 
 
Included in OCI
 
Recognized in
Earnings
($ in thousands) 
 
 
 
AFS fixed income securities:
 
 
 
 
 
 
   Corporate securities
 
$
1,445

 
—

 
1,445

   RMBS
 
1

 
—

 
1

Total AFS fixed income securities
 
1,446

 
—

 
1,446

AFS equity securities:
 
 
 
 
 
 
Common stock
 
6,201

 
—

 
6,201

Preferred stock
 
180

 
—

 
180

Total AFS equity securities
 
6,381

 
—

 
6,381

Total OTTI losses
 
$
7,827

 
—

 
7,827


Nine Months 2014
 
Gross
 
Included in OCI
 
Recognized in Earnings
($ in thousands)
 
 
 
AFS equity securities:
 
 

 
 

 
 

    Common stock
 
$
1,382

 
—

 
1,382

Total OTTI losses
 
$
1,382

 
—

 
1,382
Schedule of Gross Credit Loss Impairments on Fixed Maturity Securities for Which a Portion of the OTTI Charge was Recognized in OCI
 
 
Quarter ended September 30,
($ in thousands)
 
2015
 
2014
Balance, beginning of period
 
$
1,013

 
5,534

Addition for the amount related to credit loss for which an OTTI was not previously recognized
 
—

 
—

Reductions for securities sold during the period
 
—

 
(90
)
Reductions for securities for which the amount previously recognized in OCI was recognized in earnings because of intention or potential requirement to sell before recovery of amortized cost
 
—

 
—

Additional increases to the amount related to credit loss for which an OTTI was previously recognized
 
—

 
—

Accretion of credit loss impairments previously recognized due to an increase in cash flows expected to be collected
 
—

 
—

Balance, end of period
 
$
1,013

 
5,444

 
 
Nine Months ended September 30,
($ in thousands)
 
2015
 
2014
Balance, beginning of period
 
$
5,444

 
7,488

Addition for the amount related to credit loss for which an OTTI was not previously recognized
 
—

 
—

Reductions for securities sold during the period
 
(4,431
)
 
(2,044
)
Reductions for securities for which the amount previously recognized in OCI was recognized in earnings because of intention or potential requirement to sell before recovery of amortized cost
 
—

 
—

Additional increases to the amount related to credit loss for which an OTTI was previously recognized
 
—

 
—

Accretion of credit loss impairments previously recognized due to an increase in cash flows expected to be collected
 
—

 
—

Balance, end of period
 
$
1,013

 
5,444
Schedule of Components of Net Realized Gains Excluding OTTI Charges
 
 
Quarter ended September 30,
 
Nine Months ended September 30,
($ in thousands)
 
2015
 
2014
 
2015
 
2014
HTM fixed income securities
 
 
 
 
 
 
 
 
Gains
 
$
3

 
—

 
5

 
3

Losses
 
—

 
(4
)
 
(1
)
 
(18
)
AFS fixed income securities
 
 

 
 

 


 


Gains
 
169

 
695

 
2,158

 
1,633

Losses
 
—

 
(29
)
 
(130
)
 
(172
)
AFS equity securities
 
 

 
 

 


 


Gains
 
1,419

 
14,576

 
23,567

 
27,255

Losses
 
(1
)
 
(8
)
 
(1,347
)
 
(332
)
Other investments
 
 
 
 
 
 
 
 
Gains
 
—

 
1

 
—

 
1

      Losses
 
—


—

 
(654
)
 
—

Total net realized gains (excluding OTTI charges)
 
$
1,590


15,231

 
23,598

 
28,370

 
Held To Maturity Fixed Income Securities [Member]  
Investments [Line Items]  
Schedule of Fixed Maturity Securities By Contractual Maturities
($ in thousands)
 
Carrying Value
 
Fair Value
Due in one year or less
 
$
102,507

 
103,945

Due after one year through five years
 
116,833

 
123,960

Due after five years through 10 years
 
10,529

 
12,483

Total HTM fixed income securities
 
$
229,869

 
240,388

 
AFS Fixed Income Securities [Member]  
Investments [Line Items]  
Schedule of Fixed Maturity Securities By Contractual Maturities
($ in thousands)
 
Fair Value
Due in one year or less
 
$
501,398

Due after one year through five years
 
2,180,671

Due after five years through 10 years
 
1,589,038

Due after 10 years
 
79,939

Total AFS fixed income securities
 
$
4,351,046