Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2014

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, 2014 and December 31, 2013, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value:

	June 30, 2014
	Level 1		Level 2		Level 3		Total
	(Amounts in thousands)
Assets
Fixed maturity securities:
U.S. government bonds and agencies	$	15,993	$	0	$	0	$	15,993
Municipal securities	0		2,353,566		0		2,353,566
Mortgage-backed securities	0		38,817		0		38,817
Corporate securities	0		296,252		0		296,252
Equity securities:
Common stock:
Public utilities	101,347		0		0		101,347
Banks, trusts and insurance companies	8,415		0		0		8,415
Energy and other	304,649		0		0		304,649
Non-redeemable preferred stock	0		28,165		0		28,165
Partnership interest in a private credit fund	0		0		12,966		12,966
Short-term bonds	69,990		14,748		0		84,738
Money market instruments	144,674		0		0		144,674
Total return swaps	0		2,300		0		2,300
Total assets at fair value	$	645,068	$	2,733,848	$	12,966	$	3,391,882
Liabilities
Equity contracts	$	635	$	0	$	0	$	635
Total liabilities at fair value	$	635	$	0	$	0	$	635

	December 31, 2013
	Level 1		Level 2		Level 3		Total
	(Amounts in thousands)
Assets
Fixed maturity securities:
U.S. government bonds and agencies	$	16,096	$	0	$	0	$	16,096
Municipal securities	0		2,235,323		0		2,235,323
Mortgage-backed securities	0		40,247		0		40,247
Corporate securities	0		264,685		0		264,685
Collateralized debt obligations	0		0		4,302		4,302
Equity securities:
Common stock:
Public utilities	85,287		0		0		85,287
Banks, trusts and insurance companies	2,927		0		0		2,927
Energy and other	151,554		0		0		151,554
Non-redeemable preferred stock	0		29,567		0		29,567
Partnership interest in a private credit fund	0		0		12,548		12,548
Short-term bonds	39,998		12,890		0		52,888
Money market instruments	262,888		0		0		262,888
Total return swap	0		1,650		0		1,650
Total assets at fair value	$	558,750	$	2,584,362	$	16,850	$	3,159,962
Liabilities
Equity contracts	$	140	$	0	$	0	$	140
Total liabilities at fair value	$	140	$	0	$	0	$	140

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,
	2014				2013
	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	$	0	$	12,726	$	39,723		$	11,592
Realized gains (losses) included in earnings	0		240		(731		)	398
Ending Balance	$	0	$	12,966	$	38,992		$	11,990
The amount of total gains (losses) for the period included in earnings attributable to assets still held at June 30	$	0	$	240	$	(731	)	$	398

	Six Months Ended June 30,
	2014					2013
	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	$	4,302		$	12,548	$	42,801		$	11,306
Realized (losses) gains included in earnings	(755		)	418		377			684
Sales	(3,547		)	0		(4,186		)	0
Ending Balance	$	0		$	12,966	$	38,992		$	11,990
The amount of total gains for the period included in earnings attributable to assets still held at June 30	$	0		$	418	$	894		$	684