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Investments (Tables)
 3 Months Ended
Mar. 31, 2015
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,
 
2015
 
2014
 
(In thousands)
 
 
 
 
Available for sale debt securities:
 
 
 
Realized gains on disposal
$
213

 
692

Realized losses on disposal
(9
)
 
(8
)
Held to maturity debt securities:
—

 


Realized gains on disposal
724

 
782

Realized losses on disposal
—

 
(11
)
Equity securities realized gains (losses)
50

 
4

Real estate gains (losses)
—

 
89

 
 
 
 
Totals
$
978

 
1,548
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,
 
 
2015
 
2014
 
 
(In thousands)
 
 
 
 
 
Total other-than-temporary impairment gains (losses) on debt securities
 
$
160

 
(4
)
Portion of loss (gain) recognized in comprehensive income
 
(160
)
 
(3
)
 
 
 
 
 
Net impairment losses on debt securities recognized in earnings
 
—

 
(7
)
Equity securities impairments
 
—

 
(28
)
 
 
 
 
 
Totals
 
$
—

 
(35
)
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, 2015
 
Twelve Months
Ended
December 31,
2014
 
 
 
 
 
 
 
 
Beginning balance, cumulative credit losses related to other-than-temporary impairments
$
2,298

 
2,472

Reductions for securities sold during current period
(20
)
 
(181
)
Additions for credit losses not previously recognized in other-than-temporary impairments
—

 
7

 
 
 
 
Ending balance, cumulative credit losses related to other-than-temporary impairments
$
2,278

 
2,298
Schedule of Held-to-Maturity Securities
The table below presents amortized costs and fair values of securities held to maturity at March 31, 2015.

 
Securities Held to Maturity
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
(In thousands)
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
U.S. agencies
$
15,047

 
634

 
—

 
15,681

U.S. Treasury
1,921

 
414

 
—

 
2,335

States and political subdivisions
436,398

 
35,935

 
(250
)
 
472,083

Foreign governments
—

 
—

 
—

 
—

Public utilities
975,817

 
78,915

 
(68
)
 
1,054,664

Corporate
3,975,303

 
226,933

 
(4,642
)
 
4,197,594

Mortgage-backed
1,614,749

 
86,462

 
(1,403
)
 
1,699,808

Home equity
18,704

 
4,614

 
—

 
23,318

Manufactured housing
4,294

 
356

 
—

 
4,650

 
 
 
 
 
 
 
 
Totals
$
7,042,233

 
434,263

 
(6,363
)
 
7,470,133

The table below presents amortized costs and fair values of securities held to maturity at December 31, 2014.

 
Securities Held to Maturity
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
(In thousands)
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
U.S. agencies
$
10,061

 
705

 
—

 
10,766

U.S. Treasury
1,920

 
409

 
—

 
2,329

States and political subdivisions
432,186

 
31,417

 
(336
)
 
463,267

Public utilities
978,847

 
67,836

 
(757
)
 
1,045,926

Corporate
3,754,222

 
183,650

 
(18,591
)
 
3,919,281

Mortgage-backed
1,640,582

 
68,726

 
(4,164
)
 
1,705,144

Home equity
18,886

 
4,734

 
(57
)
 
23,563

Manufactured housing
4,839

 
328

 
—

 
5,167

 
 
 
 
 
 
 
 
Totals
$
6,841,543

 
357,805

 
(23,905
)
 
7,175,443
Schedule of Available-for-Sale Securities
The table below presents amortized costs and fair values of securities available for sale at March 31, 2015.

 
Securities Available for Sale
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
(In thousands)
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
States and political subdivisions
$
588

 
—

 
(35
)
 
553

Foreign governments
9,941

 
684

 
—

 
10,625

Public utilities
164,169

 
10,580

 
—

 
174,749

Corporate
2,441,317

 
152,193

 
(5,538
)
 
2,587,972

Mortgage-backed
45,563

 
4,177

 
—

 
49,740

Home equity
11,577

 
213

 
(13
)
 
11,777

Manufactured housing
1,606

 
53

 
—

 
1,659

 
2,674,761

 
167,900

 
(5,586
)
 
2,837,075

 
 
 
 
 
 
 
 
Equity securities
12,807

 
4,964

 
(156
)
 
17,615

 
 
 
 
 
 
 
 
Totals
$
2,687,568

 
172,864

 
(5,742
)
 
2,854,690

The table below presents amortized costs and fair values of securities available for sale at December 31, 2014.

 
Securities Available for Sale
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
(In thousands)
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
States and political subdivisions
$
589

 
—

 
(36
)
 
553

Foreign governments
9,939

 
386

 
—

 
10,325

Public utilities
169,179

 
10,163

 
(126
)
 
179,216

Corporate
2,334,700

 
128,280

 
(8,961
)
 
2,454,019

Mortgage-backed
48,674

 
4,116

 
—

 
52,790

Home equity
11,702

 
225

 
(9
)
 
11,918

Manufactured housing
2,492

 
64

 
—

 
2,556

 
2,577,275

 
143,234

 
(9,132
)
 
2,711,377

 
 
 
 
 
 
 
 
Equity securities
12,799

 
4,849

 
(345
)
 
17,303

 
 
 
 
 
 
 
 
Totals
$
2,590,074

 
148,083

 
(9,477
)
 
2,728,680
Schedule of Gross Unrealized Losses and Fair Values of Held-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, 2014.

 
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:
 
 
 
 
 
 
 
 
 
 
 
States and political subdivisions
$
—

 
—

 
23,076

 
(336
)
 
23,076

 
(336
)
Public utilities
7,078

 
(13
)
 
48,198

 
(744
)
 
55,276

 
(757
)
Corporate
156,839

 
(2,997
)
 
698,316

 
(15,594
)
 
855,155

 
(18,591
)
Mortgage-backed
17,698

 
(240
)
 
181,694

 
(3,924
)
 
199,392

 
(4,164
)
Home equity
2,206

 
(57
)
 
—

 
—

 
2,206

 
(57
)
 
 
 
 
 
 
 
 
 
 
 
 
Total temporarily impaired securities
$
183,821

 
(3,307
)
 
951,284

 
(20,598
)
 
1,135,105

 
(23,905
)
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, 2015.

 
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:
 
 
 
 
 
 
 
 
 
 
 
States and political subdivisions
$
—

 
—

 
13,220

 
(250
)
 
13,220

 
(250
)
Public utilities
2,003

 
(5
)
 
18,445

 
(63
)
 
20,448

 
(68
)
Corporate
99,277

 
(1,080
)
 
308,553

 
(3,562
)
 
407,830

 
(4,642
)
Mortgage-backed
30,877

 
(159
)
 
88,592

 
(1,244
)
 
119,469

 
(1,403
)
 
 
 
 
 
 
 
 
 
 
 
 
Total temporarily impaired securities
$
132,157

 
(1,244
)
 
428,810

 
(5,119
)
 
560,967

 
(6,363
)
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, 2014.
 
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:
 
 
 
 
 
 
 
 
 
 
 
States and political subdivisions
$
—

 
—

 
553

 
(36
)
 
553

 
(36
)
Public utilities
—

 
—

 
14,827

 
(126
)
 
14,827

 
(126
)
Corporate
100,373

 
(2,990
)
 
187,699

 
(5,971
)
 
288,072

 
(8,961
)
Home equity
—

 
—

 
4,826

 
(9
)
 
4,826

 
(9
)
 
100,373

 
(2,990
)
 
207,905

 
(6,142
)
 
308,278

 
(9,132
)
 
 
 
 
 
 
 
 
 
 
 
 
Equity public
305

 
(52
)
 
3,801

 
(293
)
 
4,106

 
(345
)
 
 
 
 
 
 
 
 
 
 
 
 
Total temporarily impaired securities
$
100,678

 
(3,042
)
 
211,706

 
(6,435
)
 
312,384

 
(9,477
)
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, 2015.

 
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:
 
 
 
 
 
 
 
 
 
 
 
States and political subdivisions
$
—

 
—

 
553

 
(35
)
 
553

 
(35
)
Public utilities
—

 
—

 
—

 
—

 
—

 
—

Corporate
104,238

 
(2,401
)
 
116,966

 
(3,137
)
 
221,204

 
(5,538
)
Home equity
—

 
—

 
4,822

 
(13
)
 
4,822

 
(13
)
 
104,238

 
(2,401
)
 
122,341

 
(3,185
)
 
226,579

 
(5,586
)
 
 
 
 
 
 
 
 
 
 
 
 
Equity public
598

 
(106
)
 
1,545

 
(50
)
 
2,143

 
(156
)
 
 
 
 
 
 
 
 
 
 
 
 
Total temporarily impaired securities
$
104,836

 
(2,507
)
 
123,886

 
(3,235
)
 
228,722

 
(5,742
)
Schedule of Mortgage Loans by Loan-to-Value Ratio
The following table represents the mortgage loan portfolio by loan-to-value ratio.

 
March 31, 2015
 
December 31, 2014
 
Amount
 
%
 
Amount
 
%
 
(In thousands)
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
Mortgage Loans by Loan-to-Value Ratio (1):
 
 
 
 
 
 
 
Less than 50%
$
47,448

 
32.8

 
$
52,564

 
35.0

50% to 60%
49,388

 
34.2

 
50,553

 
33.7

60% to 70%
20,115

 
13.9

 
14,567

 
9.7

70% to 80%
7,934

 
5.5

 
12,656

 
8.4

80% to 90%
19,683

 
13.6

 
5,399

 
3.6

Greater than 90%
—

 
—

 
14,414

 
9.6

Gross balance
144,568

 
100.0

 
150,153

 
100.0

 
 
 
 
 
 
 
 
Allowance for possible losses
(650
)
 
(0.5
)
 
(650
)
 
(0.4
)
 
 
 
 
 
 
 
 
Totals
$
143,918

 
99.5

 
$
149,503

 
99.6


(1) Loan-to-Value Ratio determined using the most recent appraised value.
Schedule of Allowance for Mortgage Loans
The following table represents the mortgage loan allowance.
 
March 31, 2015
 
December 31, 2014
 
(In thousands)
 
 
 
 
Balance, beginning of period
$
650

 
650

Provision
—

 
—

Releases
—

 
—

 
 
 
 
Balance, end of period
$
650

 
650