ACCUMULATED OTHER COMPREHENSIVE INCOME

3 Months Ended

Mar. 31, 2013

ACCUMULATED OTHER COMPREHENSIVE INCOME [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME

12.  ACCUMULATED OTHER COMPREHENSIVE INCOME

The Company has available-for-sale securities and receives an allocation of the actuarial losses and net prior service credits associated with Employers Mutual's pension and postretirement benefit plans, both of which generate accumulated other comprehensive income (loss) amounts.  The following table reconciles, by component, the beginning and ending balances of accumulated other comprehensive income.

	Accumulated other comprehensive income by component (1)
	Unrealized
	gains and			Unrecognized
	(losses) on			pension and
	available-for-			postretirement
	sale securities			benefit obligations			Total
Balance at December 31, 2012	$	69,805,305		$	(22,052,930	)	$	47,752,375
Other comprehensive income before reclassifications		6,868,379			-			6,868,379
Amounts reclassified from accumulated other comprehensive income		(1,734,118	)		350,527			(1,383,591	)
Current period other comprehensive income		5,134,261			350,527			5,484,788
Balance at March 31, 2013	$	74,939,566		$	(21,702,403	)	$	53,237,163

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

The following table displays amounts reclassified out of accumulated other comprehensive income (loss) during the three months ended March 31, 2013.

	Amounts
	reclassified
	from
	accumulated
	other			Affected line item in the
Accumulated other comprehensive	comprehensive			consolidated statement
income (loss) components	income (loss) (1)			of income
Unrealized gains on investments:
Reclassification adjustment for realized investment gains included in net income	$	2,667,873		Net realized investment gains
Deferred income tax expense		(933,755	)	Income tax expense, current
Net reclassification adjustment		1,734,118
Unrecognized pension and postretirement benefit obligations:
Reclassification adjustment for amounts amortized into net periodic pension and postretirement benefit cost:
Net actuarial loss		(716,318	)		(2	)
Prior service credit		177,045			(2	)
Total before tax		(539,273	)
Deferred income tax expense		188,746		Income tax expense, current
Net reclassification adjustment		(350,527	)
Total reclassification adjustment	$	1,383,591

(1) Amounts in parentheses indicate debits to net income

(2) These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement benefit costs (see Note 6, Employee Retirement Plans, for additional details).