Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2013

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 March 31, 2013 and December 31, 2012, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value:

	March 31, 2013
	Level 1		Level 2		Level 3		Total
	(Amounts in thousands)
Assets
Fixed maturity securities:
U.S. government bonds and agencies	$	16,375	$	0	$	0	$	16,375
Municipal securities	0		2,192,651		0		2,192,651
Mortgage-backed securities	0		31,177		0		31,177
Corporate securities	0		233,492		0		233,492
Collateralized debt obligations	0		0		39,723		39,723
Equity securities:
Common stock:
Public utilities	104,715		0		0		104,715
Banks, trusts and insurance companies	24,461		0		0		24,461
Energy and other	386,610		0		0		386,610
Non-redeemable preferred stock	0		11,880		0		11,880
Partnership interest in a private credit fund	0		0		11,592		11,592
Short-term bonds	0		39,128		0		39,128
Money market instruments	112,953		0		0		112,953
Total assets at fair value	$	645,114	$	2,508,328	$	51,315	$	3,204,757
Liabilities
Equity contracts	$	628	$	0	$	0	$	628
Total liabilities at fair value	$	628	$	0	$	0	$	628

	December 31, 2012
	Level 1		Level 2		Level 3		Total
	(Amounts in thousands)
Assets
Fixed maturity securities:
U.S. government bonds and agencies	$	14,204	$	0	$	0	$	14,204
Municipal securities	0		2,165,095		0		2,165,095
Mortgage-backed securities	0		30,703		0		30,703
Corporate securities	0		155,551		0		155,551
Collateralized debt obligations	0		0		42,801		42,801
Equity securities:
Common stock:
Public utilities	85,106		0		0		85,106
Banks, trusts and insurance companies	22,166		0		0		22,166
Energy and other	346,809		0		0		346,809
Non-redeemable preferred stock	0		11,701		0		11,701
Partnership interest in a private credit fund	0		0		11,306		11,306
Short-term bonds	0		24,530		0		24,530
Money market instruments	270,123		0		0		270,123
Total assets at fair value	$	738,408	$	2,387,580	$	54,107	$	3,180,095
Liabilities
Equity contracts	$	175	$	0	$	0	$	175
Interest rate swap agreements	0		103		0		103
Total liabilities at fair value	$	175	$	103	$	0	$	278

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.

	Three Months Ended March 31,
	2013					2012
	Collateralized Debt Obligations			Partnership Interest in a Private Credit Fund		Collateralized Debt Obligations		Partnership Interest in a Private Credit Fund
	(Amounts in thousands)
Beginning Balance	$	42,801		$	11,306	$	47,503	$	10,008
Realized gains included in earnings	1,108			286		5,480		502
Sales	(4,186		)	0		0		0
Ending Balance	$	39,723		$	11,592	$	52,983	$	10,510
The amount of total gains for the period included in earnings attributable to assets still held at March 31	$	1,625		$	286	$	5,480	$	502