Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2014

Other Comprehensive Income (Loss) [Abstract]

Other Comprehensive Income (Loss)

10.  OTHER COMPREHENSIVE INCOME (LOSS)

The following table presents the components of comprehensive income (loss) in the consolidated statements of operations for the periods indicated:

	Three Months Ended March 31, 2014									Three Months Ended March 31, 2013
(Dollars in thousands)	Before Tax			Tax Effect			Net of Tax			Before Tax			Tax Effect			Net of Tax
Unrealized appreciation (depreciation) ("URA(D)") on securities - temporary	$	64,113		$	(10,718	)	$	53,395		$	(45,045	)	$	(1,563	)	$	(46,608	)
URA(D) on securities - OTTI		76			-			76			(228	)		34			(194	)
Reclassification of net realized losses (gains) included in net income (loss)		2,436			(562	)		1,874			(4,919	)		828			(4,091	)
Foreign currency translation adjustments		(6,856	)		4,219			(2,637	)		(25,156	)		4,090			(21,066	)
Reclassification of benefit plan liability amortization included in net income (loss)		1,186			(415	)		771			2,070			(724	)		1,346
Total other comprehensive income (loss)	$	60,955		$	(7,476	)	$	53,479		$	(73,278	)	$	2,665		$	(70,613	)

The following table presents details of the amounts reclassified from accumulated other comprehensive income ("AOCI") for the periods indicated:

	Three months ended			Three months ended			Affected line item within the statements of
AOCI component	March 31, 2014			March 31, 2013			operations and comprehensive income (loss)
(Dollars in thousands)
URA(D) on securities	$	2,436		$	(4,919	)	Other net realized capital gains (losses)
		(562	)		828		Income tax expense (benefit)
	$	1,874		$	(4,091	)	Net income (loss)
Benefit plan net gain (loss)	$	1,186		$	2,070		Other underwriting expenses
		(415	)		(724	)	Income tax expense (benefit)
	$	771		$	1,346		Net income (loss)

The following table presents the components of accumulated other comprehensive income (loss), net of tax, in the consolidated balance sheets for the periods indicated:

	At March 31,			At December 31,
(Dollars in thousands)	2014			2013
Beginning balance of URA (D) on securities	$	201,154		$	603,928
Current period change in URA (D) of investments - temporary		55,269			(401,335	)
Current period change in URA (D) of investments - non-credit OTTI		76			(1,439	)
Ending balance of URA (D) on securities		256,499			201,154
Beginning balance of foreign currency translation adjustments		(4,530	)		(4,368	)
Current period change in foreign currency translation adjustments		(2,637	)		(162	)
Ending balance of foreign currency translation adjustments		(7,167	)		(4,530	)
Beginning balance of benefit plan net gain (loss)		(38,896	)		(62,511	)
Current period change in benefit plan net gain (loss)		771			23,615
Ending balance of benefit plan net gain (loss)		(38,125	)		(38,896	)
Ending balance of accumulated other comprehensive income (loss)	$	211,207		$	157,728
(Some amounts may not reconcile due to rounding.)