Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Fixed Maturities and Equity Securities by Asset Class that are Measured at Fair Value

The following tables present, for each of the fair value hierarchy levels as defined by the accounting guidance for fair value measurements and described below, our Company’s fixed maturities and equity securities by asset class that are measured at fair value on a recurring basis, as well as the fair value of the 5.75% Senior notes due October 15, 2023 (the “5.75% Senior notes”) carried at amortized cost as of December 31, 2016 and 2015:

	December 31, 2016
amounts in thousands	Level 1		Level 2		Level 3		Total
Fixed maturities:
U.S.  Treasury bonds, agency bonds and foreign  government bonds	$	47,704	$	226,072	$	—	$	273,776
States, municipalities and political subdivisions		—		547,415		—		547,415
Mortgage-backed and asset-backed securities:
Agency mortgage-backed securities		—		487,364		—		487,364
Residential mortgage obligations		—		20,530		—		20,530
Asset-backed securities		—		314,601		—		314,601
Commercial mortgage-backed securities		—		154,139		—		154,139
Subtotal	$	—	$	976,634	$	—	$	976,634
Corporate bonds		—		838,057		—		838,057
Total fixed maturities	$	47,704	$	2,588,178	$	—	$	2,635,882
Equity securities		164,088		185,054		—		349,142
Short-term investments		143,539		—		—		143,539
Total assets measured at fair value	$	355,331	$	2,773,232	$	—	$	3,128,563
Senior notes	$	—	$	280,316	$	—	$	280,316
Total liabilities measured at fair value	$	—	$	280,316	$	—	$	280,316
	December 31, 2015
amounts in thousands	Level 1		Level 2		Level 3		Total
Fixed maturities:
U.S. Treasury bonds, agency bonds and foreign government bonds	$	67,394	$	185,488	$	—	$	252,882
States, municipalities and political subdivisions		—		576,859		—		576,859
Mortgage-backed and asset-backed securities:
Agency mortgage-backed securities		—		379,269		—		379,269
Residential mortgage obligations		—		30,465		—		30,465
Asset-backed securities		—		225,012		—		225,012
Commercial mortgage-backed securities		—		189,713		—		189,713
Subtotal	$	—	$	824,459	$	—	$	824,459
Corporate bonds		—		760,010		—		760,010
Total fixed maturities	$	67,394	$	2,346,816	$	—	$	2,414,210
Equity securities		126,455		178,816		—		305,271
Short-term investments		217,745		—		—		217,745
Total assets measured at fair value	$	411,594	$	2,525,632	$	—	$	2,937,226
Senior notes	$	—	$	282,486	$	—	$	282,486
Total liabilities measured at fair value	$	—	$	282,486	$	—	$	282,486