XML 33 R59.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Fair Value Valuation of our Financial Instruments Measured on a Recurring Basis by Hierarchy Levels (Details) - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other investments $ 34,181 $ 5,757
Assets held in separate accounts 645,881 561,281
Fair Value, Measurements, Recurring | Estimate of Fair Value Measurement    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 7,702,628 7,033,045
Other investments 31,469 4,745
Cash, cash equivalents and short-term investments 29,142 34,748
Reinsurance recoverable 2,327 157
Assets held in separate accounts 645,881 561,281
Assets, Fair Value Disclosure 8,503,274 7,723,532
Future policy benefits - indexed product embedded derivatives 76,346 40,028
Other liabilities 254 780
Liabilities, Fair Value Disclosure 76,600 40,808
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 4,821 7,917
Other investments 0 0
Cash, cash equivalents and short-term investments 29,142 34,748
Reinsurance recoverable 0 0
Assets held in separate accounts 645,881 561,281
Assets, Fair Value Disclosure 696,871 609,207
Future policy benefits - indexed product embedded derivatives 0 0
Other liabilities 0 0
Liabilities, Fair Value Disclosure 0 0
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 7,668,684 6,931,576
Other investments 31,469 4,745
Cash, cash equivalents and short-term investments 0 0
Reinsurance recoverable 2,327 157
Assets held in separate accounts 0 0
Assets, Fair Value Disclosure 7,770,353 7,013,911
Future policy benefits - indexed product embedded derivatives 0 0
Other liabilities 254 780
Liabilities, Fair Value Disclosure 254 780
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 29,123 93,552
Other investments 0 0
Cash, cash equivalents and short-term investments 0 0
Reinsurance recoverable 0 0
Assets held in separate accounts 0 0
Assets, Fair Value Disclosure 36,050 100,414
Other liabilities 0 0
Liabilities, Fair Value Disclosure 76,346 40,028
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Estimate of Fair Value Measurement    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 36,050 100,414
Corporate    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 3,778,950 3,279,885
Corporate | Fair Value, Measurements, Recurring | Estimate of Fair Value Measurement    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 3,778,950 3,279,885
Corporate | Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 0 0
Corporate | Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 3,772,362 3,257,874
Corporate | Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 6,588 22,011
Corporate | Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Estimate of Fair Value Measurement    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 6,588 22,011
Residential mortgage-backed    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 672,388 606,860
Residential mortgage-backed | Fair Value, Measurements, Recurring | Estimate of Fair Value Measurement    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure 672,388 606,860
Residential mortgage-backed | Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure 0 0
Residential mortgage-backed | Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure 672,388 606,860
Residential mortgage-backed | Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure 0 0
Commercial mortgage-backed    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 1,045,473 878,566
Commercial mortgage-backed | Fair Value, Measurements, Recurring | Estimate of Fair Value Measurement    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure 1,045,473 878,566
Commercial mortgage-backed | Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure 0 0
Commercial mortgage-backed | Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure 1,032,693 810,626
Commercial mortgage-backed | Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure 12,780 67,940
Commercial mortgage-backed | Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Estimate of Fair Value Measurement    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 12,780 67,940
Other asset-backed    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 714,521 707,570
Other asset-backed | Fair Value, Measurements, Recurring | Estimate of Fair Value Measurement    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure 714,521 707,570
Other asset-backed | Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure 0 0
Other asset-backed | Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure 704,766 703,969
Other asset-backed | Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure 9,755 3,601
Other asset-backed | Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Estimate of Fair Value Measurement    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 9,755 3,601
United States Government and agencies    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 14,123 20,535
United States Government and agencies | Fair Value, Measurements, Recurring | Estimate of Fair Value Measurement    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 14,123 20,535
United States Government and agencies | Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 4,821 7,917
United States Government and agencies | Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 9,302 12,618
United States Government and agencies | Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 0 0
States and political subdivisions    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 1,477,173 1,539,629
States and political subdivisions | Fair Value, Measurements, Recurring | Estimate of Fair Value Measurement    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 1,477,173 1,539,629
States and political subdivisions | Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 0 0
States and political subdivisions | Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 1,477,173 1,539,629
States and political subdivisions | Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 0 0
Non-redeemable preferred stocks | Fair Value, Measurements, Recurring | Estimate of Fair Value Measurement    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 74,800 84,295
Non-redeemable preferred stocks | Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 0 0
Non-redeemable preferred stocks | Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 67,873 77,433
Non-redeemable preferred stocks | Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 6,927 6,862
Non-redeemable preferred stocks | Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Estimate of Fair Value Measurement    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 6,927 6,862
Common stocks | Fair Value, Measurements, Recurring | Estimate of Fair Value Measurement    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities [1] 17,027 5,261
Common stocks | Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 17,027 5,261
Common stocks | Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 0 0
Common stocks | Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities 0 0
Private Equity Funds, US | Common stocks    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments 1,700 6,800
Private Equity Funds, US | Common stocks | Significant unobservable inputs (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Alternative Investment $ 8,400 $ 3,300
[1]
A private equity fund with a fair value estimate of $8.4 million at December 31, 2019 and $3.3 million at December 31, 2018 using net asset value per share as a practical expedient, has not been classified in the fair value hierarchy above in accordance with fair value reporting guidance. This fund invests in senior secured middle market loans and had unfunded commitments totaling $1.7 million at December 31, 2019 and $6.8 million at December 31, 2018. The investment is not currently eligible for redemption.