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Investments (Tables)
 3 Months Ended
Mar. 31, 2013
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 March 31,
 
2013
 
2012
 
(In thousands)
 
 
 
 
Available for sale debt securities:
 
 
 
Realized gains on disposal
$
1,796

 
1,628

Realized losses on disposal
—

 
—

Held to maturity debt securities:


 


Realized gains on disposal
329

 
116

Realized losses on disposal
(69
)
 
(374
)
Equity securities realized gains (losses)
318

 
(4
)
Real estate gains (losses)
—

 
—

Mortgage loans write-downs
—

 
—

Other
—

 
—

 
 
 
 
Totals
$
2,374

 
1,366
Net Impairment Losses Recognized in Earnings
The table below presents net impairment losses recognized in earnings for the periods indicated.

 
Three Months Ended March 31,
 
2013
 
2012
 
(In thousands)
 
 
 
 
Total other-than-temporary impairment gains (losses) on debt securities
$
382

 
(253
)
Portion of loss (gain) recognized in comprehensive income
(443
)
 
78

 
 
 
 
Net impairment losses (gains) on debt securities recognized in earnings
(61
)
 
(175
)
Equity securities impairments
—

 
(24
)
 
 
 
 
Totals
$
(61
)
 
(199
)
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 March 31, 2013
 
Twelve Months
Ended
December 31,
2012
 
 
 
 
 
 
 
 
Beginning balance, cumulative credit losses related to other-than-temporary impairments
$
2,247

 
1,122

Reductions for securities sold during current period
$
—

 
(118
)
Additions for credit losses not previously recognized in other-than-temporary impairments
61

 
1,243

 
 
 
 
Ending balance, cumulative credit losses related to other-than-temporary impairment
$
2,308

 
2,247
Schedule of Held-to-Maturity Securities
The table below presents amortized costs and fair values of securities held to maturity at March 31, 2013.

 
Securities Held to Maturity
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
(In thousands)
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
U.S. agencies
$
23,107

 
2,551

 
—

 
25,658

U.S. Treasury
1,909

 
617

 
—

 
2,526

States and political subdivisions
415,553

 
40,932

 
(718
)
 
455,767

Foreign governments
9,990

 
507

 
—

 
10,497

Public utilities
778,321

 
86,375

 
(181
)
 
864,515

Corporate
3,052,451

 
260,064

 
(5,675
)
 
3,306,840

Mortgage-backed
1,766,021

 
121,769

 
(484
)
 
1,887,306

Home equity
21,057

 
4,556

 
(359
)
 
25,254

Manufactured housing
9,732

 
779

 
—

 
10,511

 
 
 
 
 
 
 
 
Totals
$
6,078,141

 
518,150

 
(7,417
)
 
6,588,874

The table below presents amortized costs and fair values of securities held to maturity at December 31, 2012.

 
Securities Held to Maturity
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
(In thousands)
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
U.S. agencies
$
23,114

 
2,748

 
—

 
25,862

U.S. Treasury
1,907

 
648

 
—

 
2,555

States and political subdivisions
391,062

 
41,150

 
(431
)
 
431,781

Foreign governments
9,988

 
616

 
—

 
10,604

Public utilities
781,239

 
89,162

 
(103
)
 
870,298

Corporate
2,887,572

 
273,431

 
(3,753
)
 
3,157,250

Mortgage-backed
1,835,051

 
133,684

 
(261
)
 
1,968,474

Home equity
21,545

 
4,443

 
(549
)
 
25,439

Manufactured housing
10,642

 
722

 
—

 
11,364

 
 
 
 
 
 
 
 
Totals
$
5,962,120

 
546,604

 
(5,097
)
 
6,503,627
Schedule of Available-for-Sale Securities
The table below presents amortized costs and fair values of securities available for sale at March 31, 2013.

 
Securities Available for Sale
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
(In thousands)
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
States and political subdivisions
$
598

 
—

 
(32
)
 
566

Foreign governments
9,925

 
570

 
—

 
10,495

Public utilities
257,807

 
25,107

 
(9
)
 
282,905

Corporate
2,259,238

 
211,922

 
(1,915
)
 
2,469,245

Mortgage-backed
101,497

 
8,789

 
—

 
110,286

Home equity
12,222

 
17

 
(394
)
 
11,845

Manufactured housing
4,695

 
223

 
—

 
4,918

 
2,645,982

 
246,628

 
(2,350
)
 
2,890,260

 
 
 
 
 
 
 
 
Equity public
10,326

 
3,654

 
(38
)
 
13,942

 
 
 
 
 
 
 
 
Totals
$
2,656,308

 
250,282

 
(2,388
)
 
2,904,202

The table below presents amortized costs and fair values of securities available for sale at December 31, 2012.

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

 
—

 
(28
)
 
571

Foreign governments
15,134

 
932

 
—

 
16,066

Public utilities
254,853

 
26,621

 
(47
)
 
281,427

Corporate
2,157,706

 
222,587

 
(2,981
)
 
2,377,312

Mortgage-backed
113,488

 
8,905

 
(64
)
 
122,329

Home equity
12,242

 
—

 
(1,483
)
 
10,759

Manufactured housing
5,030

 
240

 
—

 
5,270

 
2,559,052

 
259,285

 
(4,603
)
 
2,813,734

 
 
 
 
 
 
 
 
Equity public
9,460

 
2,865

 
(58
)
 
12,267

 
 
 
 
 
 
 
 
Totals
$
2,568,512

 
262,150

 
(4,661
)
 
2,826,001
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 December 31, 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
19,745

 
(401
)
 
1,470

 
(31
)
 
21,215

 
(432
)
Foreign governments
—

 
—

 
—

 
—

 
—

 
—

Public utilities
24,271

 
(80
)
 
1,982

 
(23
)
 
26,253

 
(103
)
Corporate
303,645

 
(1,776
)
 
38,078

 
(1,977
)
 
341,723

 
(3,753
)
Mortgage-backed
15,010

 
(261
)
 
—

 
—

 
15,010

 
(261
)
Home equity
—

 
—

 
6,435

 
(548
)
 
6,435

 
(548
)
Manufactured housing
—

 
—

 
—

 
—

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
 
Total temporarily impaired securities
$
362,671

 
(2,518
)
 
47,965

 
(2,579
)
 
410,636

 
(5,097
)
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 March 31, 2013.

 
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
21,683

 
(712
)
 
579

 
(6
)
 
22,262

 
(718
)
Foreign governments
—

 
—

 
—

 
—

 
—

 
—

Public utilities
23,292

 
(181
)
 
—

 
—

 
23,292

 
(181
)
Corporate
381,377

 
(3,924
)
 
28,235

 
(1,751
)
 
409,612

 
(5,675
)
Mortgage-backed
30,917

 
(484
)
 
—

 
—

 
30,917

 
(484
)
Home equity
—

 
—

 
6,386

 
(359
)
 
6,386

 
(359
)
Manufactured housing
—

 
—

 
—

 
—

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
 
Total temporarily impaired securities
$
457,269

 
(5,301
)
 
35,200

 
(2,116
)
 
492,469

 
(7,417
)
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 that the individual securities have been in a continuous unrealized loss position at December 31, 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
571

 
(28
)
 
—

 
—

 
571

 
(28
)
Foreign governments
—

 
—

 
—

 
—

 
—

 
—

Public utilities
10,949

 
(47
)
 
—

 
—

 
10,949

 
(47
)
Corporate
64,383

 
(713
)
 
14,713

 
(2,268
)
 
79,096

 
(2,981
)
Mortgage-backed
3,839

 
(64
)
 
—

 
—

 
3,839

 
(64
)
Home equity
4,698

 
(216
)
 
6,062

 
(1,267
)
 
10,760

 
(1,483
)
Manufactured housing
—

 
—

 
—

 
—

 
—

 
—

 
84,440

 
(1,068
)
 
20,775

 
(3,535
)
 
105,215

 
(4,603
)
 
 
 
 
 
 
 
 
 
 
 
 
Equity public
756

 
(8
)
 
295

 
(50
)
 
1,051

 
(58
)
 
 
 
 
 
 
 
 
 
 
 
 
Total temporarily impaired securities
$
85,196

 
(1,076
)
 
21,070

 
(3,585
)
 
106,266

 
(4,661
)
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 March 31, 2013.

 
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
566

 
(32
)
 
—

 
—

 
566

 
(32
)
Foreign governments
—

 
—

 
—

 
—

 
—

 
—

Public utilities
1,008

 
(9
)
 
—

 
—

 
1,008

 
(9
)
Corporate
116,702

 
(1,428
)
 
14,475

 
(487
)
 
131,177

 
(1,915
)
Mortgage-backed
—

 
—

 
—

 
—

 
—

 
—

Home equity
—

 
—

 
6,913

 
(394
)
 
6,913

 
(394
)
Manufactured housing
—

 
—

 
—

 
—

 
—

 
—

 
118,276

 
(1,469
)
 
21,388

 
(881
)
 
139,664

 
(2,350
)
 
 
 
 
 
 
 
 
 
 
 
 
Equity public
214

 
(21
)
 
159

 
(17
)
 
373

 
(38
)
 
 
 
 
 
 
 
 
 
 
 
 
Total temporarily impaired securities
$
118,490

 
(1,490
)
 
21,547

 
(898
)
 
140,037

 
(2,388
)

Liq
Schedule of Mortgage Loans by Loan-to-Value Ratio
The following table represents the loan-to-value ratio using the most recent appraised value.

 
March 31, 2013
 
December 31, 2012
 
Amount
 
%
 
Amount
 
%
 
(In thousands)
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
Mortgage Loans by Loan-to-Value Ratio (1):
 
 
 
 
 
 
 
Less than 50%
$
51,365

 
40.7
 %
 
$
58,754

 
41.1
 %
50% to 60%
20,133

 
16.0
 %
 
27,832

 
19.5
 %
60% to 70%
22,912

 
18.2
 %
 
23,518

 
16.5
 %
70% to 80%
8,619

 
6.8
 %
 
9,431

 
6.6
 %
80% to 90%
—

 
—
 %
 
—

 
—
 %
Greater than 90%
23,160

 
18.3
 %
 
23,285

 
16.3
 %
Gross balance
126,189

 
100.0
 %
 
142,820

 
100
 %
 
 
 
 
 
 
 
 
Allowance for possible losses
(650
)
 
(0.5
)%
 
(650
)
 
(0.5
)%
 
 
 
 
 
 
 
 
Totals
$
125,539

 
99.5
 %
 
$
142,170

 
99.5
 %

(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 three months ended March 31, 2013 and the year ended December 31, 2012:
 
March 31, 2013
 
December 31, 2012
 
(In thousands)
 
 
 
 
Balance, beginning of period
$
650

 
4,571

Provision
—

 
650

Releases
—

 
(4,571
)
 
 
 
 
Balance, end of period
$
650

 
650