XML 25 R25.htm IDEA: XBRL DOCUMENT v3.3.0.814
Fair Value (Tables)
 9 Months Ended
Sep. 30, 2015
Fair Value [Abstract]  
Fair Value Measurement Levels For All Assets, Recorded At Fair And Market Value

       
Fair Value Measurement Using:
  
       
Quoted Prices
          
       
in Active
    
Significant
      
       
Markets for
    
Other
    
Significant
  
       
Identical
    
Observable
    
Unobservable
  
       
Assets
    
Inputs
    
Inputs
  
(Dollars in thousands)
  
September 30, 2015
    
(Level 1)
    
(Level 2)
    
(Level 3)
  
Assets:
                
Fixed maturities, market value
                
U.S. Treasury securities and obligations of
                
U.S. government agencies and corporations
  
$
227,444
    
$
-
    
$
227,444
    
$
-
  
Obligations of U.S. States and political subdivisions
    
714,279
      
-
      
714,279
      
-
  
Corporate securities
    
1,999,162
      
-
      
1,993,887
      
5,275
  
Asset-backed securities
    
132,461
      
-
      
132,461
      
-
  
Mortgage-backed securities
                                
Commercial
    
64,521
      
-
      
64,521
      
-
  
Agency residential
    
726,035
      
-
      
726,035
      
-
  
Non-agency residential
    
168
      
-
      
168
      
-
  
Foreign government securities
    
464,707
      
-
      
464,707
      
-
  
Foreign corporate securities
    
1,055,585
      
-
      
1,049,460
      
6,125
  
Total fixed maturities, market value
    
5,384,362
      
-
      
5,372,962
      
11,400
  
                                 
Fixed maturities, fair value
    
-
      
-
      
-
      
-
  
Equity securities, market value
    
-
      
-
      
-
      
-
  
Equity securities, fair value
    
1,199,347
      
1,109,801
      
89,546
      
-
  
Other invested assets, fair value
    
1,684,860
      
1,684,860
      
-
      
-
  

Fair Value Measurement Using:
  
       
Quoted Prices
          
       
in Active
    
Significant
      
       
Markets for
    
Other
    
Significant
  
       
Identical
    
Observable
    
Unobservable
  
       
Assets
    
Inputs
    
Inputs
  
(Dollars in thousands)
  
December 31, 2014
    
(Level 1)
    
(Level 2)
    
(Level 3)
  
Assets:
                
Fixed maturities, market value
                
U.S. Treasury securities and obligations of
                
U.S. government agencies and corporations
  
$
136,836
    
$
-
    
$
136,836
    
$
-
  
Obligations of U.S. States and political subdivisions
    
824,472
      
-
      
824,472
      
-
  
Corporate securities
    
1,978,935
      
-
      
1,978,935
      
-
  
Asset-backed securities
    
94,823
      
-
      
94,823
      
-
  
Mortgage-backed securities
                                
Commercial
    
59,268
      
-
      
50,671
      
8,597
  
Agency residential
    
598,117
      
-
      
598,117
      
-
  
Non-agency residential
    
315
      
-
      
315
      
-
  
Foreign government securities
    
537,087
      
-
      
537,087
      
-
  
Foreign corporate securities
    
1,063,558
      
-
      
1,056,392
      
7,166
  
Total fixed maturities, market value
    
5,293,411
      
-
      
5,277,648
      
15,763
  
                                 
Fixed maturities, fair value
    
1,509
      
-
      
1,509
      
-
  
Equity securities, market value
    
16
      
16
      
-
      
-
  
Equity securities, fair value
    
1,299,037
      
1,188,613
      
110,424
      
-
  
Other invested assets, fair value
    
1,655,311
      
1,655,311
      
-
      
-
  
Activity Under Level 3, Fair Value Measurements Using Significant Unobservable Inputs By Asset Type

   
Three Months Ended September 30, 2015
    
Nine Months Ended September 30, 2015
  
   
Corporate
    
Foreign
    
   
Corporate
        
Foreign
    
 
(Dollars in thousands)
  
Securities
    
Corporate
    
Total
    
Securities
    
CMBS
    
Corporate
    
Total
  
Beginning balance
  
$
1,958
    
$
7,837
    
$
9,795
    
$
-
    
$
8,597
    
$
7,166
    
$
15,763
  
Total gains or (losses) (realized/unrealized)
                                                        
Included in earnings
    
(6
)
    
62
      
56
      
(2
)
    
-
      
177
      
175
  
Included in other comprehensive income (loss)
    
(93
)
    
(1,287
)
    
(1,380
)
    
(95
)
    
-
      
(1,216
)
    
(1,311
)
Purchases, issuances and settlements
    
1,723
      
-
      
1,723
      
3,651
      
-
      
-
      
3,651
  
Transfers in and/or (out) of Level 3
    
1,693
      
(487
)
    
1,206
      
1,721
      
(8,597
)
    
(2
)
    
(6,878
)
Ending balance
  
$
5,275
    
$
6,125
    
$
11,400
    
$
5,275
    
$
-
    
$
6,125
    
$
11,400
  
                                                         
The amount of total gains or losses for the period
                                                        
included in earnings (or changes in net assets)
                                                        
 attributable to the change in unrealized gains
                                                        
or losses relating to assets still held at the
                                                        
reporting date
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                         
(Some amounts may not reconcile due to rounding.)
                                                        



   
Three Months Ended September 30, 2014
    
Nine Months Ended September 30, 2014
  
   
Corporate
    
Asset-backed
    
Foreign
    
Non-agency
    
   
Corporate
    
Asset-backed
    
Foreign
    
Non-agency
    
 
(Dollars in thousands)
  
Securities
    
Securities
    
Corporate
    
RMBS
    
Total
    
Securities
    
Securities
    
Corporate
    
RMBS
    
Total
  
Beginning balance
  
$
-
    
$
2,528
    
$
-
    
$
4
    
$
2,532
    
$
-
    
$
3,533
    
$
481
    
$
4
    
$
4,018
  
Total gains or (losses) (realized/unrealized)
                                                                                
Included in earnings
    
-
      
1,235
      
-
      
2
      
1,237
      
-
      
1,291
      
18
      
3
      
1,312
  
Included in other comprehensive income (loss)
    
42
      
(284
)
    
(50
)
    
(3
)
    
(295
)
    
42
      
(191
)
    
(70
)
    
(3
)
    
(222
)
Purchases, issuances and settlements
    
1,274
      
17,898
      
3,614
      
(3
)
    
22,783
      
1,274
      
16,744
      
3,135
      
(4
)
    
21,149
  
Transfers in and/or (out) of Level 3
    
-
      
(1,101
)
    
-
      
-
      
(1,101
)
    
-
      
(1,101
)
    
-
      
-
      
(1,101
)
Ending balance
  
$
1,316
    
$
20,276
    
$
3,564
    
$
-
    
$
25,156
    
$
1,316
    
$
20,276
    
$
3,564
    
$
-
    
$
25,156
  
                                                                                 
The amount of total gains or losses for the period
                                                                                
included in earnings (or changes in net assets)
                                                                                
 attributable to the change in unrealized gains
                                                                                
or losses relating to assets still held at the
                                                                                
reporting date
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                                 
(Some amounts may not reconcile due to rounding.)