Deferred Policy Acquisition Costs

12 Months Ended

Dec. 31, 2011

Deferred Policy Acquisition Costs [Abstract]

5. Deferred Policy Acquisition Costs

Deferred policy acquisition costs are as follows:


	December 31,
	2011			2010			2009
	(Amounts in thousands)
Balance, beginning of year	$	170,579		$	175,866		$	200,005
Acquisition costs deferred		482,572			500,278			519,168
Amortization		(481,721	)		(505,565	)		(543,307	)

Balance, end of year	$	171,430		$	170,579		$	175,866

- Definition

Disclosure of accounting policy for capitalizing costs incurred to write or acquire insurance contracts, the basis for and methodology for capitalizing such costs, the accounting for such deferred acquisition costs (DAC) when modifications or internal replacements of related insurance contracts occur and the effect on results of operations, and the methodology and amount of amortization. This disclosure addresses the nature, type, and amount of capitalized costs incurred to write or acquire insurance contracts.

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