XML 35 R24.htm IDEA: XBRL DOCUMENT v3.10.0.1
Fair Value (Tables)
 9 Months Ended
Sep. 30, 2018
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, 2018
    
(Level 1)
    
(Level 2)
    
(Level 3)
  
Assets:
                        
Fixed maturities, market value
                        
U.S. Treasury securities and obligations of
                        
U.S. government agencies and corporations
  
$
766,485
    
$
-
    
$
766,485
    
$
-
  
Obligations of U.S. States and political subdivisions
    
514,026
      
-
      
514,026
      
-
  
Corporate securities
    
2,225,862
      
-
      
1,848,708
      
377,154
  
Asset-backed securities
    
149,555
      
-
      
149,555
      
-
  
Mortgage-backed securities
                                
Commercial
    
48,411
      
-
      
48,411
      
-
  
Agency residential
    
92,196
      
-
      
92,196
      
-
  
Non-agency residential
    
2,127
      
-
      
2,127
      
-
  
Foreign government securities
    
519,093
      
-
      
519,093
      
-
  
Foreign corporate securities
    
915,699
      
-
      
903,538
      
12,161
  
Total fixed maturities, market value
    
5,233,454
      
-
      
4,844,139
      
389,315
  
                                 
Fixed maturities, fair value
    
2,373
      
-
      
-
      
2,373
  
Equity securities, fair value
    
850,539
      
824,356
      
26,183
      
-
  
Other invested assets, fair value
    
1,692,221
      
-
      
-
      
1,692,221
  




         
Fair Value Measurement Using:
  
         
Quoted Prices
              
         
in Active
    
Significant
        
         
Markets for
    
Other
    
Significant
  
         
Identical
    
Observable
    
Unobservable
  
         
Assets
    
Inputs
    
Inputs
  
(Dollars in thousands)
  
December 31, 2017
    
(Level 1)
    
(Level 2)
    
(Level 3)
  
Assets:
                        
Fixed maturities, market value
                        
U.S. Treasury securities and obligations of
                        
U.S. government agencies and corporations
  
$
664,513
    
$
-
    
$
664,513
    
$
-
  
Obligations of U.S. States and political subdivisions
    
585,469
      
-
      
585,469
      
-
  
Corporate securities
    
2,024,209
      
-
      
1,865,988
      
158,221
  
Asset-backed securities
    
138,024
      
-
      
138,024
      
-
  
Mortgage-backed securities
                                
Commercial
    
51,751
      
-
      
51,751
      
-
  
Agency residential
    
113,288
      
-
      
113,288
      
-
  
Non-agency residential
    
58
      
-
      
58
      
-
  
Foreign government securities
    
523,620
      
-
      
523,620
      
-
  
Foreign corporate securities
    
870,989
      
-
      
864,037
      
6,952
  
Total fixed maturities, market value
    
4,971,921
      
-
      
4,806,748
      
165,173
  
                                 
Equity securities, fair value
    
822,375
      
800,542
      
21,833
      
-
  
Other invested assets, fair value
    
1,807,473
      
-
      
-
      
1,807,473
  
Activity Under Level 3, Fair Value Measurements Using Significant Unobservable Inputs By Asset Type
Total Fixed Maturities, Market Value
  
   
Three Months Ended September 30, 2018
    
Nine Months Ended September 30, 2018
  
   
Corporate
    
Foreign
          
Corporate
    
Foreign
        
(Dollars in thousands)
  
Securities
    
Corporate
    
Total
    
Securities
    
Corporate
    
Total
  
Beginning balance
  
$
329,249
    
$
12,615
    
$
341,864
    
$
158,221
    
$
6,952
    
$
165,173
  
Total gains or (losses) (realized/unrealized)
                                                
Included in earnings
    
(1,935
)
    
(472
)
    
(2,407
)
    
(590
)
    
(882
)
    
(1,472
)
Included in other comprehensive income (loss)
    
(450
)
    
-
      
(450
)
    
(25
)
    
-
      
(25
)
Purchases, issuances and settlements
    
50,290
      
18
      
50,308
      
219,548
      
4,341
      
223,889
  
Transfers in and/or (out) of Level 3
    
-
      
-
      
-
      
-
      
1,750
      
1,750
  
Ending balance
  
$
377,154
    
$
12,161
    
$
389,315
    
$
377,154
    
$
12,161
    
$
389,315
  
                                                 
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.)
                                                



   
Total Fixed Maturities, Market Value
  
   
Three Months Ended September 30, 2017
    
Nine Months Ended September 30, 2017
  
   
Corporate
    
Foreign
          
Corporate
    
Foreign
        
(Dollars in thousands)
  
Securities
    
Corporate
    
Total
    
Securities
    
Corporate
    
Total
  
Beginning balance
  
$
86,140
    
$
3,151
    
$
89,291
    
$
65,197
    
$
2,538
    
$
67,735
  
Total gains or (losses) (realized/unrealized)
                                                
Included in earnings
    
283
      
210
      
493
      
1,208
      
314
      
1,522
  
Included in other comprehensive income (loss)
    
18
      
(230
)
    
(212
)
    
161
      
(230
)
    
(69
)
Purchases, issuances and settlements
    
15,628
      
-
      
15,628
      
35,503
      
509
      
36,012
  
Transfers in and/or (out) of Level 3
    
-
      
-
      
-
      
-
      
-
      
-
  
Ending balance
  
$
102,069
    
$
3,131
    
$
105,200
    
$
102,069
    
$
3,131
    
$
105,200
  
                                                 
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.)
                                                



   
Total Fixed Maturities, Fair Value
  
   
Three Months Ended September 30, 2018
    
Nine Months Ended September 30, 2018
  
   
Foreign
          
Foreign
        
(Dollars in thousands)
  
Corporate
    
Total
    
Corporate
    
Total
  
Beginning balance fixed maturities at fair value
  
$
3,192
    
$
3,192
    
$
-
    
$
-
  
Total gains or (losses) (realized/unrealized)
                                
Included in earnings
    
(101
)
    
(101
)
    
(257
)
    
(257
)
Included in other comprehensive income (loss)
    
(32
)
    
(32
)
    
-
      
-
  
Purchases, issuances and settlements
    
(686
)
    
(686
)
    
2,630
      
2,630
  
Transfers in and/or (out) of Level 3
    
-
      
-
      
-
      
-
  
Ending balance
  
$
2,373
    
$
2,373
    
$
2,373
    
$
2,373
  
                                 
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.)
                                



   
Total Fixed Maturities, Fair Value
  
   
Three Months Ended September 30, 2017
    
Nine Months Ended September 30, 2017
  
   
Foreign
          
Foreign
        
(Dollars in thousands)
  
Corporate
    
Total
    
Corporate
    
Total
  
Beginning balance fixed maturities at fair value
  
$
-
    
$
-
    
$
-
    
$
-
  
Total gains or (losses) (realized/unrealized)
                                
Included in earnings
    
-
      
-
      
-
      
-
  
Included in other comprehensive income (loss)
    
-
      
-
      
-
      
-
  
Purchases, issuances and settlements
    
-
      
-
      
-
      
-
  
Transfers in and/or (out) of Level 3
    
-
      
-
      
-
      
-
  
Ending balance
  
$
-
    
$
-
    
$
-
    
$
-
  
                                 
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.)
                                
Fair Value Measurements Using Significant Unobservable Inputs for Equity Index Put Option Contracts
   
Three Months Ended
    
Nine Months Ended
  
   
September 30,
    
September 30,
  
(Dollars in thousands)
  
2018
    
2017
    
2018
    
2017
  
Other invested assets, fair value:
                        
Beginning balance
  
$
1,705,037
    
$
1,724,532
    
$
1,807,473
    
$
1,766,626
  
Total gains or (losses) (realized/unrealized)
                                
Included in earnings
    
(12,816
)
    
197,870
      
(115,252
)
    
155,776
  
Included in other comprehensive income (loss)
    
-
      
-
      
-
      
-
  
Purchases, issuances and settlements
    
-
      
-
      
-
      
-
  
Transfers in and/or (out) of Level 3
    
-
      
-
      
-
      
-
  
Ending balance
  
$
1,692,221
    
$
1,922,402
    
$
1,692,221
    
$
1,922,402
  
                                 
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.)