Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2013 and December 31, 2012, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value:

	June 30, 2013
	Level 1		Level 2		Level 3		Total
	(Amounts in thousands)
Assets
Fixed maturity securities:
U.S. government bonds and agencies	$	15,965	$	0	$	0	$	15,965
Municipal securities	0		2,143,070		0		2,143,070
Mortgage-backed securities	0		34,176		0		34,176
Corporate securities	0		249,849		0		249,849
Collateralized debt obligations	0		0		38,992		38,992
Equity securities:
Common stock:
Public utilities	107,942		0		0		107,942
Banks, trusts and insurance companies	23,603		0		0		23,603
Energy and other	358,411		0		0		358,411
Non-redeemable preferred stock	0		26,779		0		26,779
Partnership interest in a private credit fund	0		0		11,990		11,990
Short-term bonds	0		34,800		0		34,800
Money market instruments	130,720		0		0		130,720
Total assets at fair value	$	636,641	$	2,488,674	$	50,982	$	3,176,297
Liabilities
Equity contracts	$	331	$	0	$	0	$	331
Total liabilities at fair value	$	331	$	0	$	0	$	331

	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 June 30,
	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	$	39,723		$	11,592	$	52,983		$	10,510
Realized (losses) gains included in earnings	(731		)	398		(1,658		)	520
Purchase	0			0		25,000			0
Ending Balance	$	38,992		$	11,990	$	76,325		$	11,030
The amount of total (losses) gains for the period included in earnings attributable to assets still held at June 30	$	(731	)	$	398	$	(1,658	)	$	520

	Six Months Ended June 30,
	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	377			684		3,822		1,022
Purchase	0			0		25,000		0
Sales	(4,186		)	0		0		0
Ending Balance	$	38,992		$	11,990	$	76,325	$	11,030
The amount of total gains for the period included in earnings attributable to assets still held at June 30	$	894		$	684	$	3,822	$	1,022