Investments (Tables)

9 Months Ended

Sep. 30, 2012

Investments [Abstract]

Summary Of Unrealized Appreciation (Depreciation) Of Available For Sale, Fixed Maturity And Equity Security Investments

	At September 30, 2012
	Amortized		Unrealized		Unrealized			Market
(Dollars in thousands)	Cost		Appreciation		Depreciation			Value
Fixed maturity securities
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	77,754	$	1,658	$	(817	)	$	78,595
Obligations of U.S. states and political subdivisions		1,275,967		90,415		(53	)		1,366,329
Corporate securities		1,342,335		65,091		(6,198	)		1,401,228
Asset-backed securities		48,695		2,228		-			50,923
Mortgage-backed securities
Commercial		45,345		8,066		(404	)		53,007
Agency residential		559,808		15,901		(541	)		575,168
Non-agency residential		2,148		357		(25	)		2,480
Foreign government securities		759,964		56,900		(4,176	)		812,688
Foreign corporate securities		948,952		46,681		(9,933	)		985,700
Total fixed maturity securities	$	5,060,968	$	287,297	$	(22,147	)	$	5,326,118
Equity securities	$	15	$	-	$	(2	)	$	13

	At December 31, 2011
	Amortized		Unrealized		Unrealized			Market
(Dollars in thousands)	Cost		Appreciation		Depreciation			Value
Fixed maturity securities
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	77,351	$	2,475	$	(287	)	$	79,539
Obligations of U.S. states and political subdivisions		1,558,615		102,815		(525	)		1,660,905
Corporate securities		1,200,941		45,070		(17,776	)		1,228,235
Asset-backed securities		44,351		758		(6	)		45,103
Mortgage-backed securities
Commercial		41,953		7,187		(1,266	)		47,874
Agency residential		528,946		16,209		(1,762	)		543,393
Non-agency residential		24,139		470		(320	)		24,289
Foreign government securities		733,814		57,437		(2,602	)		788,649
Foreign corporate securities		670,544		29,421		(10,924	)		689,041
Total fixed maturity securities	$	4,880,654	$	261,842	$	(35,468	)	$	5,107,028
Equity securities	$	15	$	-	$	(5	)	$	10

Summary Of Pre-Tax Cumulative Unrealized Appreciation (Depreciation) On Corporate Securities

(Dollars in thousands)	At September 30, 2012		At December 31, 2011
Pre-tax cumulative unrealized appreciation (depreciation)	$	490	$	635

Summary Of Amortized Cost And Market Value Of Fixed Maturity Securities, By Contractual Maturity

	At September 30, 2012				At December 31, 2011
	Amortized		Market		Amortized		Market
(Dollars in thousands)	Cost		Value		Cost		Value
Fixed maturity securities – available for sale
Due in one year or less	$	351,241	$	349,065	$	224,406	$	223,507
Due after one year through five years		2,272,775		2,360,911		2,055,299		2,129,437
Due after five years through ten years		977,030		1,040,976		955,253		1,009,893
Due after ten years		803,926		893,588		1,006,307		1,083,532
Asset-backed securities		48,695		50,923		44,351		45,103
Mortgage-backed securities
Commercial		45,345		53,007		41,953		47,874
Agency residential		559,808		575,168		528,946		543,393
Non-agency residential		2,148		2,480		24,139		24,289
Total fixed maturity securities	$	5,060,968	$	5,326,118	$	4,880,654	$	5,107,028

Summary Of Changes In Net Unrealized Appreciation (Depreciation) For The Company's Investments

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2012			2011			2012			2011
Increase (decrease) during the period between the market value and cost
of investments carried at market value, and deferred taxes thereon:
Fixed maturity securities	$	28,226		$	11,911		$	38,923		$	51,341
Fixed maturity securities, other-than-temporary impairment		(77	)		(137	)		(146	)		(132	)
Equity securities		-			(1	)		3			(1	)
Other invested assets		-			215			-			(1,515	)
Change in unrealized  appreciation (depreciation), pre-tax		28,149			11,988			38,780			49,693
Deferred tax benefit (expense)		(9,879	)		(4,243	)		(13,624	)		(17,438	)
Deferred tax benefit (expense), other-than-temporary impairment		27			48			51			46
Change in unrealized appreciation (depreciation),
net of deferred taxes, included in stockholder's equity	$	18,297		$	7,793		$	25,207		$	32,301

Summary Of Aggregate Market Value And Gross Unrealized Depreciation Of Fixed Maturity And Equity Securities, By Security Type

	Duration of Unrealized Loss at September 30, 2012 By Security Type
	Less than 12 months					Greater than 12 months					Total
			Gross					Gross					Gross
			Unrealized					Unrealized					Unrealized
(Dollars in thousands)	Market Value		Depreciation			Market Value		Depreciation			Market Value		Depreciation
Fixed maturity securities - available for sale
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	-	$	-		$	11,543	$	(817	)	$	11,543	$	(817	)
Obligations of U.S. states and political subdivisions		-		-			5,779		(53	)		5,779		(53	)
Corporate securities		56,805		(411	)		108,100		(5,787	)		164,905		(6,198	)
Asset-backed securities		-		-			-		-			-		-
Mortgage-backed securities
Commercial		-		-			10,332		(404	)		10,332		(404	)
Agency residential		74,338		(354	)		12,983		(187	)		87,321		(541	)
Non-agency residential		-		-			496		(25	)		496		(25	)
Foreign government securities		37,667		(592	)		38,281		(3,584	)		75,948		(4,176	)
Foreign corporate securities		66,424		(1,290	)		80,924		(8,643	)		147,348		(9,933	)
Total fixed maturity securities	$	235,234	$	(2,647	)	$	268,438	$	(19,500	)	$	503,672	$	(22,147	)
Equity securities		-		-			13		(2	)		13		(2	)
Total	$	235,234	$	(2,647	)	$	268,451	$	(19,502	)	$	503,685	$	(22,149	)

	Duration of Unrealized Loss at December 31, 2011 By Security Type
	Less than 12 months					Greater than 12 months					Total
			Gross					Gross					Gross
			Unrealized					Unrealized					Unrealized
(Dollars in thousands)	Market Value		Depreciation			Market Value		Depreciation			Market Value		Depreciation
Fixed maturity securities - available for sale
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	-	$	-		$	3,452	$	(287	)	$	3,452	$	(287	)
Obligations of U.S. states and political subdivisions		-		-			7,518		(525	)		7,518		(525	)
Corporate securities		342,959		(8,449	)		75,998		(9,327	)		418,957		(17,776	)
Asset-backed securities		819		(6	)		-		-			819		(6	)
Mortgage-backed securities
Commercial		9,292		(1,266	)		-		-			9,292		(1,266	)
Agency residential		151,951		(1,695	)		7,199		(67	)		159,150		(1,762	)
Non-agency residential		41		-			20,693		(320	)		20,734		(320	)
Foreign government securities		12,777		(269	)		40,743		(2,333	)		53,520		(2,602	)
Foreign corporate securities		77,458		(2,025	)		94,182		(8,899	)		171,640		(10,924	)
Total fixed maturity securities	$	595,297	$	(13,710	)	$	249,785	$	(21,758	)	$	845,082	$	(35,468	)
Equity securities		-		-			10		(5	)		10		(5	)
Total	$	595,297	$	(13,710	)	$	249,795	$	(21,763	)	$	845,092	$	(35,473	)

Summary Of Aggregate Market Value And Gross Unrealized Depreciation Of Fixed Maturity And Equity Securities, By Contractual Maturity

	Duration of Unrealized Loss at September 30, 2012 By Maturity
	Less than 12 months					Greater than 12 months					Total
			Gross					Gross					Gross
			Unrealized					Unrealized					Unrealized
(Dollars in thousands)	Market Value		Depreciation			Market Value		Depreciation			Market Value		Depreciation
Fixed maturity securities
Due in one year or less	$	12,962	$	(287	)	$	35,341	$	(5,663	)	$	48,303	$	(5,950	)
Due in one year through five years		116,020		(1,805	)		149,214		(11,175	)		265,234		(12,980	)
Due in five years through ten years		29,938		(175	)		45,936		(1,587	)		75,874		(1,762	)
Due after ten years		1,976		(26	)		14,136		(459	)		16,112		(485	)
Asset-backed securities		-		-			-		-			-		-
Mortgage-backed securities		74,338		(354	)		23,811		(616	)		98,149		(970	)
Total fixed maturity securities	$	235,234	$	(2,647	)	$	268,438	$	(19,500	)	$	503,672	$	(22,147	)

	Duration of Unrealized Loss at December 31, 2011 By Maturity
	Less than 12 months					Greater than 12 months					Total
			Gross					Gross					Gross
			Unrealized					Unrealized					Unrealized
(Dollars in thousands)	Market Value		Depreciation			Market Value		Depreciation			Market Value		Depreciation
Fixed maturity securities
Due in one year or less	$	9,583	$	(59	)	$	26,204	$	(4,486	)	$	35,787	$	(4,545	)
Due in one year through five years		213,809		(4,754	)		137,972		(9,576	)		351,781		(14,330	)
Due in five years through ten years		186,061		(5,484	)		37,964		(2,391	)		224,025		(7,875	)
Due after ten years		23,741		(446	)		19,753		(4,918	)		43,494		(5,364	)
Asset-backed securities		819		(6	)		-		-			819		(6	)
Mortgage-backed securities		161,284		(2,961	)		27,892		(387	)		189,176		(3,348	)
Total fixed maturity securities	$	595,297	$	(13,710	)	$	249,785	$	(21,758	)	$	845,082	$	(35,468	)

Summary Of Components Of Net Investment Income

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2012			2011			2012			2011
Fixed maturity securities	$	55,495		$	58,248		$	164,248		$	178,006
Equity securities		8,849			8,726			29,281			20,366
Short-term investments and cash		330			296			758			890
Other invested assets
Limited partnerships		9,096			12,399			29,940			44,753
Dividends from Parent's shares		4,666			4,665			13,997			13,979
Other		1,427			(1,520	)		2,453			3,203
Total gross investment income		79,863			82,814			240,677			261,197
Interest debited (credited) and other investment expense		(3,521	)		(4,489	)		(8,887	)		(11,281	)
Total net investment income	$	76,342		$	78,325		$	231,790		$	249,916

Summary Of Components Of Net Realized Capital Gains (Losses)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2012			2011			2012			2011
Fixed maturity securities, market value:
Other-than-temporary impairments	$	(486	)	$	(911	)	$	(6,627	)	$	(14,522	)
Gains (losses) from sales		85			2,699			4,018			(15,589	)
Fixed maturity securities, fair value:
Gains (losses) from sales		512			(16	)		5,539			(966	)
Gains (losses) from fair value adjustments		298			(5,014	)		1,623			(8,537	)
Equity securities, market value:
Gains (losses) from sales		-			-			-			37
Equity securities, fair value:
Gains (losses) from sales		3,154			637			23,101			2,303
Gains (losses) from fair value adjustments		58,667			(153,395	)		104,739			(115,288	)
Other invested assets, fair value:
Gains (losses) from fair value adjustments		33,729			(23,036	)		222,296			(54,181	)
Short-term investment gains (losses)		(16	)		-			(16	)		(1	)
Total net realized capital gains (losses)	$	95,943		$	(179,036	)	$	354,673		$	(206,744	)

Summary Of Gross Gains (Losses) From Sales Of Fixed Maturity And Equity Securities

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2012			2011			2012			2011
Proceeds from sales of fixed maturity securities	$	126,393		$	268,425		$	363,837		$	1,105,435
Gross gains from sales		2,704			11,572			15,371			29,154
Gross losses from sales		(2,107	)		(8,889	)		(5,814	)		(45,709	)
Proceeds from sales of equity secuities	$	85,277		$	61,080		$	377,157		$	177,872
Gross gains from sales		5,204			6,022			33,005			9,124
Gross losses from sales		(2,050	)		(5,385	)		(9,904	)		(6,784	)