Fair Values (Tables)

6 Months Ended

Jun. 30, 2017

Fair Value, by Balance Sheet Grouping [Table Text Block]



Fair Values and Carrying Values

	June 30, 2017				December 31, 2016
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(Dollars in thousands)
Assets
Fixed maturities - available for sale	$	7,212,546	$	7,212,546	$	7,008,790	$	7,008,790
Equity securities - available for sale	131,435		131,435		132,968		132,968
Mortgage loans	878,435		904,209		816,471		840,337
Policy loans	188,630		233,461		188,254		230,656
Other investments	12,642		13,802		9,809		11,272
Cash, cash equivalents and short-term investments	73,430		73,430		49,931		49,931
Reinsurance recoverable	2,151		2,151		3,411		3,411
Assets held in separate accounts	625,971		625,971		597,072		597,072



Fair Values and Carrying Values (continued)

	June 30, 2017				December 31, 2016
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(Dollars in thousands)
Liabilities
Future policy benefits	$	4,096,486	$	4,042,680	$	4,044,148	$	3,903,177
Supplementary contracts without life contingencies	328,904		335,425		330,232		330,633
Advance premiums and other deposits	260,025		260,025		257,171		257,171
Long-term debt	97,000		76,940		97,000		67,599
Other liabilities	276		276		114		114
Liabilities related to separate accounts	625,971		623,191		597,072		593,760

Valuation of our Financial Instruments Measured on Recurring Basis by hierarchy levels [Table Text Block]



Valuation of our Financial Instruments Measured on a Recurring Basis by Hierarchy Levels

	June 30, 2017
	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total
	(Dollars in thousands)
Assets
Fixed maturities:
Corporate securities	$	—	$	3,716,055	$	36,541	$	3,752,596
Residential mortgage-backed securities	—		438,663		6,019		444,682
Commercial mortgage-backed securities	—		574,236		78,724		652,960
Other asset-backed securities	—		703,612		98,388		802,000
United States Government and agencies	9,022		19,252		—		28,274
State and political subdivisions	—		1,532,034		—		1,532,034
Total fixed maturities	9,022		6,983,852		219,672		7,212,546
Non-redeemable preferred stocks	—		93,907		7,525		101,432
Common stocks	4,035		25,968		—		30,003
Other investments	—		11,790		—		11,790
Cash, cash equivalents and short-term investments	73,430		—		—		73,430
Reinsurance recoverable	—		2,151		—		2,151
Assets held in separate accounts	625,971		—		—		625,971
Total assets	$	712,458	$	7,117,668	$	227,197	$	8,057,323

Liabilities
Future policy benefits - indexed product embedded derivatives	$	—	$	—	$	22,295	$	22,295
Other liabilities	—		276		—		276
Total liabilities	$	—	$	276	$	22,295	$	22,571



Valuation of our Financial Instruments Measured on a Recurring Basis by Hierarchy Levels

	December 31, 2016
	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total
	(Dollars in thousands)
Assets
Fixed maturities:
Corporate securities	$	—	$	3,649,536	$	59,119	$	3,708,655
Residential mortgage-backed securities	—		422,300		—		422,300
Commercial mortgage-backed securities	—		494,520		81,434		575,954
Other asset-backed securities	—		716,282		54,368		770,650
United States Government and agencies	11,943		20,129		—		32,072
State and political subdivisions	—		1,499,159		—		1,499,159
Total fixed maturities	11,943		6,801,926		194,921		7,008,790
Non-redeemable preferred stocks	—		95,006		7,411		102,417
Common stocks	3,056		27,495		—		30,551
Other investments	—		9,360		—		9,360
Cash, cash equivalents and short-term investments	49,931		—		—		49,931
Reinsurance recoverable	—		3,411		—		3,411
Assets held in separate accounts	597,072		—		—		597,072
Total assets	$	662,002	$	6,937,198	$	202,332	$	7,801,532

Liabilities
Future policy benefits - indexed product embedded derivatives	$	—	$	—	$	15,778	$	15,778
Other liabilities	—		114		—		114
Total liabilities	$	—	$	114	$	15,778	$	15,892

Level 3 fixed maturities on Measurement on Recurring Basis by Valuation Technique [Table Text Block]



Level 3 Fixed Maturities by Valuation Source - Recurring Basis

	June 30, 2017
	Third-party vendors			Priced internally			Total
	(Dollars in thousands)
Corporate securities	$	7,493		$	29,048		$	36,541
Residential mortgage-backed securities	6,019			—			6,019
Commercial mortgage-backed securities	78,724			—			78,724
Other asset-backed securities	88,086			10,302			98,388
Total	$	180,322		$	39,350		$	219,672
Percent of total	82.1		%	17.9		%	100.0		%



	December 31, 2016
	Third-party vendors			Priced internally			Total
	(Dollars in thousands)
Corporate securities	$	17,684		$	41,435		$	59,119
Commercial mortgage-backed securities	81,434			—			81,434
Other asset-backed securities	39,308			15,060			54,368
Total	$	138,426		$	56,495		$	194,921
Percent of total	71.0		%	29.0		%	100.0		%

Quantitative Information about Level 3 Fair Value Measurement Inputs [Text Block]



Quantitative Information about Level 3 Fair Value Measurements - Recurring Basis

	June 30, 2017
	Fair Value		Valuation Technique	Unobservable Input	Range (Weighted Average)
	(Dollars in thousands)
Assets
Corporate securities	$	27,586	Discounted cash flow	Credit spread	0.87% - 6.21% (3.74%)
Commercial mortgage-backed	73,002		Discounted cash flow	Credit spread	1.40% - 4.10% (2.50%)
Other asset-backed securities	7,569		Discounted cash flow	Credit spread	1.51% - 4.63% (3.25%)
Non-redeemable preferred stocks	7,525		Discounted cash flow	Credit spread	3.32% (3.32%)
Total assets	$	115,682

Liabilities
Future policy benefits - indexed product embedded derivatives	$	22,295	Discounted cash flow	Credit risk Risk margin	0.50% - 1.75% (1.10%) 0.15% - 0.40% (0.25%)



	December 31, 2016
	Fair Value		Valuation Technique	Unobservable Input	Range (Weighted Average)
	(Dollars in thousands)
Assets
Corporate securities	$	47,398	Discounted cash flow	Credit spread	0.58% - 4.25% (2.81%)
Commercial mortgage-backed	81,434		Discounted cash flow	Credit spread	1.10% - 4.15% (2.95%)
Other asset-backed securities	6,461		Discounted cash flow	Credit spread	1.08% - 4.87% (3.45%)
Non-redeemable preferred stocks	7,411		Discounted cash flow	Credit spread	4.05% (4.05%)
Total assets	$	142,704

Liabilities
Future policy benefits - indexed product embedded derivatives	$	15,778	Discounted cash flow	Credit risk Risk margin	0.80% - 2.00% (1.25%) 0.15% - 0.40% (0.25%)

The tables above exclude certain securities for which the fair value was based on non-binding broker quotes where we could not reasonably obtain the quantitative unobservable inputs.

Level 3 Financial Instruments Changes in Fair Value [Table Text Block]



Level 3 Financial Instruments Changes in Fair Value - Recurring Basis

	June 30, 2017
								Realized and unrealized gains (losses), net
	Balance, December 31, 2016		Purchases		Disposals				Included in net income		Included in other compre-hensive income			Transfers into Level 3 (1)		Transfers out of Level 3 (1)			Amort-ization included in net income			Balance, June 30, 2017
	(Dollars in thousands)
Assets
Corporate securities	$	59,119	$	—	$	(3,311	)		$	—	$	(778	)	$	4,408	$	(22,877	)	$	(20	)	$	36,541
Residential mortgage-backed securities	—		21,326		—				—		(1		)	—		(15,307		)	1			6,019
Commercial mortgage-backed securities	81,434		5,723		(394		)		—		6,547			—		(14,544		)	(42		)	78,724
Other asset-backed securities	54,368		63,542		(3,921		)		—		269			10,959		(26,817		)	(12		)	98,388
Non-redeemable preferred stocks	7,411		—		—				—		114			—		—			—			7,525
Total assets	$	202,332	$	90,591	$	(7,626	)		$	—	$	6,151		$	15,367	$	(79,545	)	$	(73	)	$	227,197

Liabilities
Future policy benefits - indexed product embedded derivatives	$	15,778	$	3,566	$	(909	)		$	3,860	$	—		$	—	$	—		$	—		$	22,295



	June 30, 2016
								Realized and unrealized gains (losses), net
	Balance, December 31, 2015		Purchases		Disposals				Included in net income		Included in other compre-hensive income			Transfers into Level 3 (1)		Transfers out of Level 3 (1)			Amort-ization included in net income			Balance, June 30, 2016
	(Dollars in thousands)
Assets
Corporate securities	$	49,076	$	2,000	$	(3,673	)		$	—	$	(778	)	$	26,738	$	(9,124	)	$	(31	)	$	64,208
Residential mortgage-backed securities	3,729		—		(3,722		)		—		(137		)	—		—			130			—
Commercial mortgage-backed securities	88,180		15,962		(815		)		—		6,259			—		(16,418		)	65			93,233
Other asset-backed securities	55,557		23,920		(1,291		)		—		410			13,698		(40,276		)	9			52,027
United States Government and agencies	8,726		—		—				—		563			—		—			4			9,293
State and political subdivisions	—		—		—				—		108			2,393		(2,501		)	—			—
Non-redeemable preferred stocks	7,471		—		—				—		(103		)	—		—			—			7,368
Total assets	$	212,739	$	41,882	$	(9,501	)		$	—	$	6,322		$	42,829	$	(68,319	)	$	177		$	226,129

Liabilities
Future policy benefits - indexed product embedded derivatives	$	9,374	$	2,852	$	(469	)		$	1,343	$	—		$	—	$	—		$	—		$	13,100


(1)	Transfers into Level 3

Financial Instruments Not Reported at Value [Table Text Block]



Valuation of our Financial Instruments Not Reported at Fair Value by Hierarchy Levels

	June 30, 2017
	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total
	(Dollars in thousands)
Assets
Mortgage loans	$	—	$	—	$	904,209	$	904,209
Policy loans	—		—		233,461		233,461
Other investments	—		—		2,012		2,012
Total assets	$	—	$	—	$	1,139,682	$	1,139,682

Liabilities
Future policy benefits	$	—	$	—	$	4,020,385	$	4,020,385
Supplementary contracts without life contingencies	—		—		335,425		335,425
Advance premiums and other deposits	—		—		260,025		260,025
Long-term debt	—		—		76,940		76,940
Liabilities related to separate accounts	—		—		623,191		623,191
Total liabilities	$	—	$	—	$	5,315,966	$	5,315,966



	December 31, 2016
	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total
	(Dollars in thousands)
Assets
Mortgage loans	$	—	$	—	$	840,337	$	840,337
Policy loans	—		—		230,656		230,656
Other investments					1,912		1,912
Total assets	$	—	$	—	$	1,072,905	$	1,072,905

Liabilities
Future policy benefits	$	—	$	—	$	3,887,399	$	3,887,399
Supplementary contracts without life contingencies	—		—		330,633		330,633
Advance premiums and other deposits	—		—		257,171		257,171
Long-term debt	—		—		67,599		67,599
Liabilities related to separate accounts	—		—		593,760		593,760
Total liabilities	$	—	$	—	$	5,136,562	$	5,136,562