Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2012

Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]

Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Valuation Techniques

The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis as of June 30, 2012 and December 31, 2011, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value:

	June 30, 2012
	Level 1		Level 2		Level 3		Total
	(Amounts in thousands)
Assets
Fixed maturity securities:
U.S. government bonds and agencies	$	12,553	$	0	$	0	$	12,553
Municipal securities	0		2,265,322		0		2,265,322
Mortgage-backed securities	0		30,887		0		30,887
Corporate securities	0		102,550		0		102,550
Collateralized debt obligations	0		0		76,325		76,325
Equity securities:
Common stock:
Public utilities	68,991		0		0		68,991
Banks, trusts and insurance companies	18,483		0		0		18,483
Energy and other	336,438		0		0		336,438
Non-redeemable preferred stock	0		11,225		0		11,225
Partnership interest in a private credit fund	0		0		11,030		11,030
Short-term bonds	0		40,792		0		40,792
Money market instruments	138,534		0		0		138,534
Total assets at fair value	$	574,999	$	2,450,776	$	87,355	$	3,113,130
Liabilities
Equity contracts	$	643	$	0	$	0	$	643
Interest rate swap agreements	0		399		0		399
Total liabilities at fair value	$	643	$	399	$	0	$	1,042

	December 31, 2011
	Level 1		Level 2		Level 3		Total
	(Amounts in thousands)
Assets
Fixed maturity securities:
U.S. government bonds and agencies	$	14,298	$	0	$	0	$	14,298
Municipal securities	0		2,271,275		0		2,271,275
Mortgage-backed securities	0		37,371		0		37,371
Corporate securities	0		75,142		0		75,142
Collateralized debt obligations	0		0		47,503		47,503
Equity securities:
Common stock:
Public utilities	26,342		0		0		26,342
Banks, trusts and insurance companies	16,027		0		0		16,027
Energy and other	316,592		0		0		316,592
Non-redeemable preferred stock	0		11,419		0		11,419
Partnership interest in a private credit fund	0		0		10,008		10,008
Short-term bonds	0		9,011		0		9,011
Money market instruments	227,433		0		0		227,433
Total assets at fair value	$	600,692	$	2,404,218	$	57,511	$	3,062,421
Liabilities
Equity contracts	$	655	$	0	$	0	$	655
Interest rate swap agreements	0		670		0		670
Total liabilities at fair value	$	655	$	670	$	0	$	1,325

Summary Of Changes In Fair Value Of Level 3 Financial Assets And Financial Liabilities Held At Fair Value

The following tables present a summary of changes in fair value of Level 3 financial assets and financial liabilities held at fair value at June 30, 2012 and 2011.

	Three Months Ended June 30,
	2012							2011
	Municipal Securities		Collateralized Debt Obligations			Partnership Interest in a Private Credit Fund		Municipal Securities		Collateralized Debt Obligations
	(Amounts in thousands)
Beginning Balance	$	0	$	52,983		$	10,510	$	0	$	58,408
Realized (losses) gains included in earnings	0		(1,658		)	520		0		(2,684		)
Purchase	0		25,000			0		0		0
Ending Balance	$	0	$	76,325		$	11,030	$	0	$	55,724
The amount of total (losses) gains for the period included in earnings attributable to assets still held at June 30	$	0	$	(1,658	)	$	520	$	0	$	(2,684	)

	Six Months Ended June 30,
	2012						2011
	Municipal Securities		Collateralized Debt Obligations		Partnership Interest in a Private Credit Fund		Municipal Securities			Collateralized Debt Obligations
	(Amounts in thousands)
Beginning Balance	$	0	$	47,503	$	10,008	$	1,624		$	55,692
Realized gains included in earnings	0		3,822		1,022		39			32
Purchase	0		25,000		0		0			0
Sales	0		0		0		(1,663		)	0
Ending Balance	$	0	$	76,325	$	11,030	$	—		$	55,724
The amount of total gains for the period included in earnings attributable to assets still held at June 30	$	0	$	3,822	$	1,022	$	0		$	32