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Investments (Tables)
 9 Months Ended
Sep. 30, 2012
Investments, Debt and Equity Securities [Abstract]  
Realized Investment Gains (Losses), Excluding Impairment Losses
The table below presents realized investment gains and losses, excluding impairment losses, for the periods indicated.

 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2012
 
2011
 
2012
 
2011
 
(In thousands)
 
 
 
 
 
 
 
 
Available for sale debt securities:
 
 
 
 
 
 
 
Realized gains on disposal
$
1,847

 
3,211

 
6,054

 
6,348

Realized losses on disposal
—

 
—

 
—

 
—

Held to maturity debt securities:


 


 


 


Realized gains on disposal
1,102

 
269

 
1,262

 
747

Realized losses on disposal
(267
)
 
(520
)
 
(680
)
 
(520
)
Equity securities realized gains (losses)
113

 
—

 
109

 
56

Real estate gains (losses)
2,644

 
—

 
2,485

 
(50
)
Mortgage loans write-downs
—

 
—

 
—

 
(39
)
Other
12

 
—

 
12

 
—

 
 
 
 
 
 
 
 
Totals
$
5,451

 
2,960

 
9,242

 
6,542
Net Impairment Losses Recognized in Earnings
The table below presents net impairment losses recognized in earnings for the periods indicated.

 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2012
 
2011
 
2012
 
2011
 
(In thousands)
 
 
 
 
 
 
 
 
Total other-than-temporary impairment gains (losses) on debt securities
$
1,267

 
(1,727
)
 
858

 
(1,727
)
Portion of loss (gain) recognized in comprehensive income
(1,761
)
 
1,719

 
(1,918
)
 
1,719

 
 
 
 
 
 
 
 
Net impairment losses (gains) on debt securities recognized in earnings
(494
)
 
(8
)
 
(1,060
)
 
(8
)
Equity securities impairments
(17
)
 
(14
)
 
(70
)
 
(14
)
 
 
 
 
 
 
 
 
Totals
$
(511
)
 
(22
)
 
(1,130
)
 
(22
)
Credit Losses on Securities, Also Recorded as Non-Credit Other-than-Temporary Impairments in Other Comprehensive Loss
The table below presents a roll forward of credit losses on securities for which the Company also recorded non-credit other-than-temporary impairments in other comprehensive loss.

 
Three Months Ended
September 30,
2012
 
Nine Months Ended
September 30,
2012
 
Twelve Months
Ended
December 31,
2011
 
 
 
(In thousands)

 
 
 
 
 
 
 
 
Beginning balance, cumulative credit losses related to other-than-temporary impairments
$
1,688

 
1,122

 
997

Additions for credit losses not previously recognized in other-than-temporary impairments
494

 
1,060

 
125

 
 
 
 
 
 
Ending balance, cumulative credit losses related to other-than-temporary impairment
$
2,182

 
2,182

 
1,122
Schedule of Held-to-Maturity Securities
The table below presents amortized costs and fair values of securities held to maturity at September 30, 2012.

 
Securities Held to Maturity
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
(In thousands)
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
U.S. agencies
$
48,120

 
3,029

 
—

 
51,149

U.S. Treasury
1,906

 
680

 
—

 
2,586

States and political subdivisions
390,745

 
42,014

 
(112
)
 
432,647

Foreign governments
9,985

 
729

 
—

 
10,714

Public utilities
743,038

 
88,341

 
(212
)
 
831,167

Corporate
2,710,117

 
280,836

 
(4,081
)
 
2,986,872

Mortgage-backed
1,911,975

 
149,410

 
—

 
2,061,385

Home equity
21,953

 
4,119

 
(590
)
 
25,482

Manufactured housing
12,077

 
783

 
(3
)
 
12,857

 
 
 
 
 
 
 
 
Totals
$
5,849,916

 
569,941

 
(4,998
)
 
6,414,859

The table below presents amortized costs and fair values of securities held to maturity at December 31, 2011.

 
Securities Held to Maturity
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
(In thousands)
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
U.S. agencies
$
205,464

 
3,519

 
(330
)
 
208,653

U.S. Treasury
1,937

 
648

 
—

 
2,585

States and political subdivisions
358,364

 
27,338

 
(280
)
 
385,422

Foreign governments
9,979

 
927

 
—

 
10,906

Public utilities
685,989

 
77,060

 
(4,498
)
 
758,551

Corporate
2,258,640

 
195,551

 
(14,483
)
 
2,439,708

Mortgage-backed
2,082,650

 
155,413

 
(29
)
 
2,238,034

Home equity
23,815

 
439

 
(1,649
)
 
22,605

Manufactured housing
15,071

 
876

 
(81
)
 
15,866

 
 
 
 
 
 
 
 
Totals
$
5,641,909

 
461,771

 
(21,350
)
 
6,082,330
Schedule of Available-for-Sale Securities
The table below presents amortized costs and fair values of securities available for sale at December 31, 2011.

 
Securities Available for Sale
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
(In thousands)
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
States and political subdivisions
$
4,042

 
16

 
(170
)
 
3,888

Foreign governments
20,145

 
588

 
—

 
20,733

Public utilities
327,794

 
32,511

 
(907
)
 
359,398

Corporate
1,881,735

 
155,144

 
(5,839
)
 
2,031,040

Mortgage-backed
163,856

 
12,389

 
(189
)
 
176,056

Home equity
10,887

 
30

 
(2,054
)
 
8,863

Manufactured housing
7,689

 
740

 
—

 
8,429

 
2,416,148

 
201,418

 
(9,159
)
 
2,608,407

 
 
 
 
 
 
 
 
Equity private
195

 
7,923

 
—

 
8,118

Equity public
6,307

 
2,266

 
(145
)
 
8,428

 
 
 
 
 
 
 
 
Totals
$
2,422,650

 
211,607

 
(9,304
)
 
2,624,953

The table below presents amortized costs and fair values of securities available for sale at September 30, 2012.

 
Securities Available for Sale
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
(In thousands)
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
States and political subdivisions
$
599

 
11

 
—

 
610

Foreign governments
15,136

 
965

 
—

 
16,101

Public utilities
258,889

 
27,574

 
—

 
286,463

Corporate
2,135,990

 
224,001

 
(2,644
)
 
2,357,347

Mortgage-backed
122,348

 
10,320

 
(251
)
 
132,417

Home equity
12,293

 
—

 
(1,821
)
 
10,472

Manufactured housing
5,410

 
242

 
—

 
5,652

 
2,550,665

 
263,113

 
(4,716
)
 
2,809,062

 
 
 
 
 
 
 
 
Equity public
9,560

 
2,818

 
(73
)
 
12,305

 
 
 
 
 
 
 
 
Totals
$
2,560,225

 
265,931

 
(4,789
)
 
2,821,367
Schedule of Gross Unrealized Losses and Fair Values of Heald-to-Maturity Investments, Continuous Unrealized Loss Position
The following table shows the gross unrealized losses and fair values of the Company's held to maturity investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at September 30, 2012.

 
Securities Held to Maturity
 
Less than 12 Months
 
12 Months or Greater
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. agencies
$
—

 
—

 
—

 
—

 
—


—

U.S. Treasury
—

 
—

 
—

 
—

 
—

 
—

States and political subdivisions
7,791

 
(113
)
 
—

 
—

 
7,791

 
(113
)
Foreign governments
—

 
—

 
—

 
—

 
—

 
—

Public utilities
15,973

 
(11
)
 
13,702

 
(201
)
 
29,675

 
(212
)
Corporate
136,726

 
(521
)
 
41,603

 
(3,559
)
 
178,329

 
(4,080
)
Mortgage-backed
—

 
—

 
—

 
—

 
—

 
—

Home equity
1,047

 
(128
)
 
12,410

 
(462
)
 
13,457

 
(590
)
Manufactured housing
825

 
(3
)
 
—

 
—

 
825

 
(3
)
 
 
 
 
 
 
 
 
 
 
 
 
Total temporarily impaired securities
$
162,362

 
(776
)
 
67,715

 
(4,222
)
 
230,077

 
(4,998
)
The following table shows the gross unrealized losses and fair values of the Company's held to maturity investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at December 31, 2011.

 
Securities Held to Maturity
 
Less than 12 Months
 
12 Months or Greater
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. agencies
$
24,985

 
(16
)
 
27,010

 
(314
)
 
51,995

 
(330
)
U.S. Treasury
—

 
—

 
—

 
—

 
—

 
—

States and political subdivisions
805

 
(82
)
 
17,117

 
(198
)
 
17,922

 
(280
)
Foreign governments
—

 
—

 
—

 
—

 
—

 
—

Public utilities
26,509

 
(1,388
)
 
17,242

 
(3,110
)
 
43,751

 
(4,498
)
Corporate
199,934

 
(7,215
)
 
95,975

 
(7,268
)
 
295,909

 
(14,483
)
Mortgage-backed
23,256

 
(29
)
 
—

 
—

 
23,256

 
(29
)
Home equity
—

 
—

 
11,660

 
(1,649
)
 
11,660

 
(1,649
)
Manufactured housing
—

 
—

 
2,436

 
(81
)
 
2,436

 
(81
)
 
 
 
 
 
 
 
 
 
 
 
 
Total temporarily impaired securities
$
275,489

 
(8,730
)
 
171,440

 
(12,620
)
 
446,929

 
(21,350
)
Schedule of Gross Unrealized Losses and Fair Values of Available-for-Sale Investments, Continuous Unrealized Loss Position
The following table shows the gross unrealized losses and fair values of the Company's available for sale investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at September 30, 2012.

 
Securities Available for Sale
 
Less than 12 Months
 
12 Months or Greater
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. agencies
$
—

 
—

 
—

 
—

 
—

 
—

U.S. Treasury
—

 
—

 
—

 
—

 
—

 
—

States and political subdivisions
—

 
—

 
—

 
—

 
—

 
—

Foreign governments
—

 
—

 
—

 
—

 
—

 
—

Public utilities
—

 
—

 
—

 
—

 
—

 
—

Corporate
34,346

 
(1,625
)
 
30,940

 
(1,019
)
 
65,286

 
(2,644
)
Mortgage-backed
7,872

 
(251
)
 
—

 
—

 
7,872

 
(251
)
Home equity
4,563

 
(358
)
 
5,909

 
(1,463
)
 
10,472

 
(1,821
)
Manufactured housing
—

 
—

 
—

 
—

 
—

 
—

 
46,781

 
(2,234
)
 
36,849

 
(2,482
)
 
83,630

 
(4,716
)
 
 
 
 
 
 
 
 
 
 
 
 
Equity public
2,635

 
(22
)
 
340

 
(51
)
 
2,975

 
(73
)
 
 
 
 
 
 
 
 
 
 
 
 
Total temporarily impaired securities
$
49,416

 
(2,256
)
 
37,189

 
(2,533
)
 
86,605

 
(4,789
)

Liq
The following table shows the gross unrealized losses and fair values of the Company's available for sale investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at December 31, 2011.

 
Securities Available for Sale
 
Less than 12 Months
 
12 Months or Greater
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. agencies
$
—

 
—

 
—

 
—

 
—

 
—

U.S. Treasury
—

 
—

 
—

 
—

 
—

 
—

States and political subdivisions
—

 
—

 
2,257

 
(170
)
 
2,257

 
(170
)
Foreign governments
—

 
—

 
—

 
—

 
—

 
—

Public utilities
19,314

 
(907
)
 
—

 
—

 
19,314

 
(907
)
Corporate
100,584

 
(4,009
)
 
20,944

 
(1,830
)
 
121,528

 
(5,839
)
Mortgage-backed
3,950

 
(189
)
 
—

 
—

 
3,950

 
(189
)
Home equity
—

 
—

 
5,351

 
(2,054
)
 
5,351

 
(2,054
)
Manufactured housing
—

 
—

 
—

 
—

 
—

 
—

 
123,848

 
(5,105
)
 
28,552

 
(4,054
)
 
152,400

 
(9,159
)
 
 
 
 
 
 
 
 
 
 
 
 
Equity public
722

 
(84
)
 
299

 
(61
)
 
1,021

 
(145
)
 
 
 
 
 
 
 
 
 
 
 
 
Total temporarily impaired securities
$
124,570

 
(5,189
)
 
28,851

 
(4,115
)
 
153,421

 
(9,304
)
Schedule of Mortgage Loans by Loan-to-Value Ratio
The following table represents the loan-to-value ratio using the most recent appraised value.

 
September 30, 2012
 
December 31, 2011
 
Amount
 
%
 
Amount
 
%
 
(In thousands)
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
Mortgage Loans by Loan-to-Value Ratio (1):
 
 
 
 
 
 
 
Less than 50%
58,307

 
42.9
%
 
68,048

 
43.2
%
50% to 60%
17,719

 
13.1
%
 
32,091

 
20.4
%
60% to 70%
27,685

 
20.4
%
 
25,692

 
16.3
%
70% to 80%
8,659

 
6.4
%
 
5,505

 
3.5
%
80% to 90%
—

 
—
%
 
—

 
—
%
Greater than 90%
23,406

 
17.2
%
 
26,124

 
16.6
%
 
 
 
 
 
 
 
 
Totals
135,776

 
100.0
%
 
157,460

 
100.0
%

(1) Loan-to-Value Ratio using the most recent appraised value.
Schedule of Allowance for Mortgage Loans
The following table represents the mortgage loan allowance for the nine months ended September 30, 2012 and the year ended December 31, 2011:
 
September 30, 2012
 
December 31, 2011
 
(In thousands)
 
 
 
 
Balance, beginning of period
$
4,571

 
3,962

Provision
—

 
609

Releases
(4,571
)
 
—

 
 
 
 
Balance, end of period
$
—

 
4,571