Investments (Tables)

12 Months Ended

Dec. 31, 2012

Investments [Abstract]

Fixed Maturities and Equity Securities, Available-for-sale Securities

			December 31, 2012
											Other-than-
						Gross		Gross			temporary
			Amortized			Unrealized		Unrealized	Fair		impairments
			Cost			Gains		Losses	Value		in AOCI (3)
			(in thousands)
Fixed maturities, available-for-sale
U.S. Treasury securities and obligations of U.S.
	government authorities and agencies		$	4,568	$	118	$	-	$	4,686	$	-
Obligations of U.S. states and their political
	subdivisions			95,107		7,359		350		102,116		-
Foreign government bonds				45,733		9,796		-		55,529		-
Public utilities				253,566		29,554		569		282,551		-
Redeemable preferred stock				2,565		697		-		3,262		-
Corporate securities				2,622,982		283,117		658		2,905,441		-
Asset-backed securities (1)				179,037		8,772		332		187,477		(3,514)
Commercial mortgage-backed securities				369,187		25,725		10		394,902		-
Residential mortgage-backed securities (2)				254,751		12,735		-		267,486		(48)
		Total fixed maturities, available-for-sale	$	3,827,496	$	377,873	$	1,919	$	4,203,450	$	(3,562)
Equity securities, available-for-sale
Common Stocks
	Industrial, miscellaneous & other		$	18	$	4	$	-	$	22
		Total equity securities, available-for-sale	$	18	$	4	$	-	$	22

• Includes credit-tranched securities collateralized by sub-prime mortgages, credit cards, education loans, and other asset types.
• Includes publicly-traded agency pass-through securities and collateralized mortgage obligations.
• Represents the amount of other-than-temporary impairment losses in “AOCI,” which were not included in earnings. Amount excludes $4.1 million of net unrealized gains on impaired securities relating to changes in the value of such securities subsequent to the impairment measurement date.

			December 31, 2011 (4)
											Other-than-
						Gross		Gross			temporary
			Amortized			Unrealized		Unrealized	Fair		impairments
			Cost			Gains		Losses	Value		in AOCI (3)
			(in thousands)
Fixed maturities, available-for-sale
	U.S. Treasury securities and obligations of U.S.
		government authorities and agencies	$	85,196	$	839	$	-	$	86,035	$	-
	Obligations of U.S. states and their political
		subdivisions		85,822		8,336		-		94,158		-
	Foreign government bonds			66,449		10,782		-		77,231		-
	Redeemable preferred stock			5,380		1,325		-		6,705		-
	Corporate securities			3,580,396		368,444		4,336		3,944,504		(236)
	Asset-backed securities (1)			172,390		9,798		4,804		177,384		(3,906)
	Commercial mortgage-backed securities			463,576		28,189		8		491,757		-
	Residential mortgage-backed securities (2)			379,486		16,562		55		395,993		(55)
		Total fixed maturities, available-for-sale	$	4,838,695	$	444,275	$	9,203	$	5,273,767	$	(4,197)
Equity securities, available-for-sale
Common Stocks
	Industrial, miscellaneous & other		$	2,510	$	561	$	-	$	3,071
		Total equity securities, available-for-sale	$	2,510	$	561	$	-	$	3,071

• Includes credit-tranched securities collateralized by sub-prime mortgages, credit cards, education loans, and other asset types.
• Includes publicly-traded agency pass-through securities and collateralized mortgage obligations.
• Represents the amount of other-than-temporary impairment losses in AOCI, which were not included in earnings. Amount excludes $2.4 million of net unrealized gains on impaired securities relating to changes in the value of such securities subsequent to the impairment measurement date.
• Prior period's amounts are presented on a basis consistent with the current period presentation.

Investments Classified by Contractual Maturity Date

		Available-for-Sale
		Amortized		Fair
		Cost		Value
		(in thousands)
Due in one year or less		$	733,849	$	756,660
Due after one year through five years			1,212,915		1,326,333
Due after five years through ten years			580,784		670,816
Due after ten years			496,973		599,776
Asset-backed securities			179,037		187,477
Commercial mortgage-backed securities			369,187		394,902
Residential mortgage-backed securities			254,751		267,486
	Total	$	3,827,496	$	4,203,450

Sources of Fixed Maturity Proceeds, Related Investment Gains (Losses), and Losses on Impairments of Fixed Maturities and Equity Securities

		2012		2011		2010
		(in thousands)
Fixed maturities, available-for-sale
	Proceeds from sales	$	504,001	$	1,121,792	$	1,422,218
	Proceeds from maturities/repayments		861,512		545,155		497,378
	Gross investment gains from sales, prepayments, and maturities		23,077		75,580		131,492
	Gross investment losses from sales and maturities		(134)		(223)		(1,801)
Equity securities, available-for-sale
	Proceeds from sales	$	3,201	$	-	$	-
	Proceeds from maturities/repayments		-		-		-
	Gross investment gains from sales, prepayments, and maturities		703		-		-
	Gross investment losses from sales and maturities		-		-		-
Fixed maturity and equity security impairments
	Net writedowns for other-than-temporary impairment losses
	on fixed maturities recognized in earnings (1)	$	(258)	$	(962)	$	(3,004)

• Excludes the portion of other-than-temporary impairments recorded in “Other comprehensive income (loss),” representing any difference between the fair value of the impaired debt security and the net present value of its projected future cash flows at the time of impairment.

Credit Losses Recognized in Earnings on Fixed Maturity Securities Held by the Company for which a Portion of the OTTI Loss was Recognized in OCI

		Year Ended		Year Ended
		December 31,		December 31,
		2012		2011
			(in thousands)
Balance, beginning of period		$	3,542	$	14,148
Credit loss impairments previously recognized on securities which matured, paid down,
	prepaid or were sold during the period		(275)		(11,446)
Credit loss impairments previously recognized on securities impaired to fair value during the period			-		-
Credit loss impairment recognized in the current period on securities not previously impaired			-		-
Additional credit loss impairments recognized in the current period on securities previously impaired			258		961
Increases due to the passage of time on previously recorded credit losses			197		340
Accretion of credit loss impairments previously recognized due to an increase in cash flows expected
	to be collected		(341)		(461)
Balance, end of period		$	3,381	$	3,542

Trading Account Assets Disclosure

	December 31, 2012				December 31, 2011
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
	(in thousands)
Fixed maturities	$	1,973	$	2,022	$	30,800	$	31,571
Equity securities		5,217		5,894		6,664		7,007
Total trading account assets	$	7,190	$	7,916	$	37,464	$	38,578

Commercial Mortgage and Other Loans

		December 31, 2012				December 31, 2011
			% of				% of
		Amount	Total			Amount	Total
Commercial mortgage and other loans by property type:		(in thousands)				(in thousands)
Office	$	59,074	13.8	%	$	60,220	13.3	%
Retail		71,546	16.7			68,369	15.1
Apartments/Multi-Family		120,066	28.0			114,900	25.5
Industrial		114,619	26.7			144,513	32.1
Hospitality		4,621	1.1			9,289	2.1
Total commercial mortgage loans		369,926	86.3			397,291	88.1
Agricultural property loans		50,026	11.7			48,964	10.9
Other		9,206	2.0			4,605	1.0
Total commercial mortgage and other loans by property type		429,158	100.0	%		450,860	100.0	%
Valuation allowance		(2,177)				(1,501)
Total net commercial mortgage and other loans by property type	$	426,981			$	449,359

Allowance for Losses

	December 31, 2012		December 31, 2011		December 31, 2010
	(in thousands)
Allowance for losses, beginning of year	$	1,501	$	2,980	$	2,897
Addition to / (release of) allowance for losses		676		(1,479)		83
Total ending balance (1)	$	2,177	$	1,501	$	2,980

(1) Agricultural loans represent $0.2 million of the ending allowance at December 31, 2012, 2011 and 2010, respectively.

Allowance for Credit Losses and Recorded Investment in Commercial Mortgage and Other Loans

	December 31, 2012		December 31, 2011
	Total Loans		Total Loans
	(in thousands)
Allowance for Credit Losses:
Ending balance: individually evaluated for impairment (1)	$	-	$	-
Ending balance: collectively evaluated for impairment (2)		2,177		1,501
Total ending balance	$	2,177	$	1,501
Recorded Investment (3):
Ending balance gross of reserves: individually evaluated for impairment (1)	$	-	$	-
Ending balance gross of reserves: collectively evaluated for impairment (2)		429,158		450,860
Total ending balance, gross of reserves	$	429,158	$	450,860

• There were no agricultural loans individually evaluated for impairments at December 31, 2012 and 2011.
• Agricultural loans collectively evaluated for impairment had a recorded investment of $50 million and $49 million at December 31, 2012 and 2011, respectively, and a related allowance of $0.2 million for both periods.
• Recorded investment reflects the balance sheet carrying value gross of related allowance.

Schedule Of Other Long Term Investments [Text Block]

		2012		2011
		(in thousands)
Joint ventures and limited partnerships	$	43,925	$	39,443
Derivatives		131,736		152,102
Total other long-term investments	$	175,661	$	191,545

Net Investment Income

			2012		2011		2010
		(in thousands)
Fixed maturities, available-for-sale			$	246,479	$	282,108	$	349,906
Equity securities, available-for-sale				7		278		932
Trading account assets				923		2,023		3,378
Commercial mortgage and other loans				28,449		28,044		26,665
Policy loans				845		902		986
Short-term investments and cash equivalents				620		724		1,334
Other long-term investments				8,302		1,016		2,101
Gross investment income				285,625		315,095		385,302
Less investment expenses				(7,974)		(9,085)		(8,193)
	Net investment income		$	277,651	$	306,010	$	377,109

Realized Gain (Loss) on Investments

		2012		2011		2010
		(in thousands)
Fixed maturities		$	22,684	$	74,395	$	126,687
Equity securities			703		1,996		(123)
Commercial mortgage and other loans			1,043		6,866		(84)
Derivatives			(107,663)		(11,366)		9,508
Other			3		(108)		51
	Realized investment gains (losses), net	$	(83,230)	$	71,783	$	136,039

Net Unrealized Investment Gain (Loss) AOCI Rollforward

				Deferred Policy				Accumulated Other
				Acquisition Costs,				Comprehensive
				Deferred Sales				Income (Loss) Related
		Net Unrealized		Inducements		Deferred		To Net Unrealized
		Gains (Losses) on		and Valuation of		Income Tax		Investment
		Investments		Business Acquired		(Liability) Benefit		Gains (Losses)
		(in thousands)
Balance, December 31, 2009		$	(8,543)	$	4,341	$	1,488	$	(2,714)
Cumulative effect of adoption of
	accounting principle		-		-		-		-
Net investment (losses) gains on investments arising during
	the period		(646)		-		229		(417)
Reclassification adjustment for gains (losses) included in
	net income		2,640		-		(935)		1,705
Reclassification adjustment for OTTI losses excluded from
	net income(1)		(11)		-		4		(7)
Impact of net unrealized investment (losses) gains on
	deferred policy acquisition costs, deferred sales inducements and
	valuation of business acquired		-		(1,489)		527		(962)
Balance, December 31, 2010		$	(6,560)	$	2,852	$	1,313	$	(2,395)
Net investment (losses) gains on investments arising during
	the period		(1,482)		-		519		(963)
Reclassification adjustment for gains (losses) included in
	net income		6,302		-		(2,206)		4,096
Reclassification adjustment for OTTI losses excluded from
	net income(1)		-		-		-		-
Impact of net unrealized investment (losses) gains on
	deferred policy acquisition costs, deferred sales inducements and
	valuation of business acquired		-		(2,160)		756		(1,404)
Balance, December 31, 2011		$	(1,740)	$	692	$	382	$	(666)
Net investment (losses) gains on investments arising during
	the period		3,067		-		(1,073)		1,994
Reclassification adjustment for gains (losses) included in
	net income		(782)		-		274		(508)
Impact of net unrealized investment (losses) gains on
	deferred policy acquisition costs, deferred sales inducements and
	valuation of business acquired		-		(906)		317		(589)
Balance, December 31, 2012		$	545	$	(214)	$	(100)	$	231

All Other Net Unrealized Investment Gain (Loss) AOCI Rollforward

				Deferred Policy						Accumulated Other
				Acquisition Costs,						Comprehensive
				Deferred Sales			Policy	Deferred		Income (Loss) Related
		Net Unrealized		Inducements			Holders'	Income Tax		To Net Unrealized
		Gains/(Losses) on		and Valuation of			Account	(Liability)		Investment
		Investments (1)		Business Acquired			Balances	Benefit		Gains (Losses)
		(in thousands)
Balance, December 31, 2009			451,879		(242,840)		-		(74,007)		135,032
Cumulative effect of adoption of
	accounting principle		-		16,957		-		(5,929)		11,028
Net investment gains (losses) on investments arising during
	the period		87,097		-		-		(30,485)		56,612
Reclassification adjustment for (losses) gains included in
	net income		(34,323)		-		-		12,013		(22,310)
Reclassification adjustment for OTTI losses excluded
	from net income(1)		11		-		-		(4)		7
Impact of net unrealized investment (losses) gains on
	deferred policy acquisition costs, deferred sales inducements
	and valuation of business acquired		-		19,837		-		(6,940)		12,897
Balance, December 31, 2010		$	504,664	$	(206,046)	$	-	$	(105,352)	$	193,266
Net investment gains (losses) on investments arising during
	the period		19,706		-		-		(6,897)		12,809
Reclassification adjustment for (losses) gains included in
	net income		(82,693)		-		-		28,947		(53,746)
Reclassification adjustment for OTTI losses excluded
	from net income(1)		-		-		-		-		-
Impact of net unrealized investment (losses) gains on
	deferred policy acquisition costs, deferred sales inducements
	and valuation of business acquired		-		13,927		-		(4,879)		9,048
Balance, December 31, 2011		$	441,677	$	(192,119)	$	-	$	(88,181)	$	161,377
Net investment gains (losses) on investments arising during
	the period		(42,295)		-		-		14,804		(27,491)
Reclassification adjustment for (losses) gains included in
	net income		(22,605)		-		-		7,912		(14,693)
Impact of net unrealized investment (losses) gains on
	deferred policy acquisition costs, deferred sales inducements
	and valuation of business acquired		-		45,030		-		(15,760)		29,270
Impact of net unrealized investment (gains) losses on
	policyholders' account balances		-		-		(2,164)		757		(1,407)
Balance, December 31, 2012		$	376,777	$	(147,089)		(2,164)	$	(80,468)	$	147,056

• Includes cash flow hedges. See Note 11 for additional discussion of our cash flow hedges.

Unrealized Gains and (Losses) on Investments

		December 31, 2012		December 31, 2011		December 31, 2010
		(in thousands)
Fixed maturity securities on which an OTTI loss has been recognized		$	545	$	(1,740)	$	(6,560)
Fixed maturity securities, available-for-sale - all other			375,409		436,812		498,517
Equity securities, available-for-sale			4		561		3,103
Affiliated notes			4,386		5,263		5,511
Derivatives designated as cash flow hedges (1)			(3,068)		(962)		(2,462)
Other investments			46		3		(5)
Unrealized gains (losses) on investments and derivatives		$	377,322	$	439,937	$	498,104
	(1) See Note 11 for more information on cash flow hedges.

Duration Of Gross Unrealized Losses On Fixed Maturity Securities Disclosures

			December 31, 2012
			Less than twelve months				Twelve months or more				Total
			Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
			(in thousands)
Fixed maturities, available-for-sale
Obligations of U.S. States and their
	political subdivisions		$	7,090	$	350	$	-	$	-	$	7,090	$	350
Corporate securities				35,248	$	897		14,867		330		50,115		1,227
Commercial mortgage-backed securities				3,326		10		-		-		3,326		10
Asset-backed securities				13,817		42		2,994		290		16,811		332
Residential mortgage-backed securities				-		-		-		-		-		-
		Total	$	59,481	$	1,299	$	17,861	$	620	$	77,342	$	1,919
Equity securities, available-for-sale			$	-	$	-	$	-	$	-	$	-	$	-

		December 31, 2011
		Less than twelve months				Twelve months or more				Total
		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
		(in thousands)
Fixed maturities, available-for-sale
Corporate securities		$	129,881	$	4,010	$	1,130	$	326	$	131,011	$	4,336
Commercial mortgage-backed securities			7,014		8		-		-		7,014		8
Asset-backed securities			48,831		782		28,430		4,022		77,261		4,804
Residential mortgage-backed securities			484		55		-		-		484		55
	Total	$	186,210	$	4,855	$	29,560	$	4,348	$	215,770	$	9,203
Equity securities, available-for-sale		$	-	$	-	$	-	$	-	$	-	$	-

Securities Pledged

		2012		2011
		(in thousands)
Fixed maturity securities, available-for-sale	$	37,533	$	121,631
Other trading account assets		-		-
Total securities pledged	$	37,533	$	121,631