Investments (Tables)

3 Months Ended

Mar. 31, 2014

Investments [Abstract]

Summary Of Unrealized Appreciation (Depreciation) Of Available For Sale, Fixed Maturity And Equity Security Investments

	At March 31, 2014
	Amortized		Unrealized		Unrealized			Market
(Dollars in thousands)	Cost		Appreciation		Depreciation			Value
Fixed maturity securities
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	161,235	$	2,755	$	(1,711	)	$	162,279
Obligations of U.S. states and political subdivisions		927,315		43,571		(4,562	)		966,324
Corporate securities		4,311,095		162,455		(19,196	)		4,454,354
Asset-backed securities		181,005		3,273		(214	)		184,064
Mortgage-backed securities
Commercial		234,356		16,000		(1,022	)		249,334
Agency residential		2,209,374		35,761		(30,791	)		2,214,344
Non-agency residential		4,302		287		(184	)		4,405
Foreign government securities		1,700,019		72,058		(23,806	)		1,748,271
Foreign corporate securities		2,980,190		91,586		(35,975	)		3,035,801
Total fixed maturity securities	$	12,708,891	$	427,746	$	(117,461	)	$	13,019,176
Equity securities	$	156,000	$	4,828	$	(7,006	)	$	153,822

	At December 31, 2013
	Amortized		Unrealized		Unrealized			Market
(Dollars in thousands)	Cost		Appreciation		Depreciation			Value
Fixed maturity securities
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	160,013	$	2,690	$	(1,678	)	$	161,025
Obligations of U.S. states and political subdivisions		970,735		40,815		(9,022	)		1,002,528
Corporate securities		3,950,887		155,619		(27,090	)		4,079,416
Asset-backed securities		169,980		3,485		(422	)		173,043
Mortgage-backed securities
Commercial		254,765		16,683		(1,007	)		270,441
Agency residential		2,294,719		34,509		(50,175	)		2,279,053
Non-agency residential		4,816		229		(226	)		4,819
Foreign government securities		1,740,337		69,779		(29,347	)		1,780,769
Foreign corporate securities		2,844,912		86,529		(45,628	)		2,885,813
Total fixed maturity securities	$	12,391,164	$	410,338	$	(164,595	)	$	12,636,907
Equity securities	$	148,342	$	4,336	$	(8,597	)	$	144,081

Summary Of Pre-Tax Cumulative Unrealized Appreciation (Depreciation) On Corporate Securities

(Dollars in thousands)	At March 31, 2014		At December 31, 2013
Pre-tax cumulative unrealized appreciation (depreciation)	$	3,245	$	3,169

Summary Of Amortized Cost And Market Value Of Fixed Maturity Securities, By Contractual Maturity

	At March 31, 2014				At December 31, 2013
	Amortized		Market		Amortized		Market
(Dollars in thousands)	Cost		Value		Cost		Value
Fixed maturity securities – available for sale:
Due in one year or less	$	1,305,956	$	1,316,967	$	1,059,052	$	1,067,799
Due after one year through five years		5,567,088		5,728,265		5,565,112		5,740,662
Due after five years through ten years		2,237,873		2,278,200		2,081,908		2,101,234
Due after ten years		968,937		1,043,597		960,812		999,856
Asset-backed securities		181,005		184,064		169,980		173,043
Mortgage-backed securities:
Commercial		234,356		249,334		254,765		270,441
Agency residential		2,209,374		2,214,344		2,294,719		2,279,053
Non-agency residential		4,302		4,405		4,816		4,819
Total fixed maturity securities	$	12,708,891	$	13,019,176	$	12,391,164	$	12,636,907

Summary Of Changes In Net Unrealized Appreciation (Depreciation) For The Company's Investments

	Three Months Ended
	March 31,
(Dollars in thousands)	2014			2013
Increase (decrease) during the period between the market value and cost
of investments carried at market value, and deferred taxes thereon:
Fixed maturity securities	$	64,466		$	(47,947	)
Fixed maturity securities, other-than-temporary impairment		76			(228	)
Equity securities		2,083			(2,017	)
Other invested assets		-			-
Change in unrealized appreciation (depreciation), pre-tax		66,625			(50,192	)
Deferred tax benefit (expense)		(11,280	)		(735	)
Deferred tax benefit (expense), other-than-temporary impairment		-			34
Change in unrealized appreciation (depreciation),
net of deferred taxes, included in shareholders' equity	$	55,345		$	(50,893	)

Summary Of Aggregate Market Value And Gross Unrealized Depreciation Of Fixed Maturity And Equity Securities, By Security Type

	Duration of Unrealized Loss at March 31, 2014 By Security Type
	Less than 12 months					Greater than 12 months					Total
			Gross					Gross					Gross
			Unrealized					Unrealized					Unrealized
(Dollars in thousands)	Market Value		Depreciation			Market Value		Depreciation			Market Value		Depreciation
Fixed maturity securities - available for sale
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	54,900	$	(988	)	$	8,689	$	(723	)	$	63,589	$	(1,711	)
Obligations of U.S. states and political subdivisions		35,182		(1,091	)		68,552		(3,471	)		103,734		(4,562	)
Corporate securities		1,055,875		(14,522	)		106,380		(4,674	)		1,162,255		(19,196	)
Asset-backed securities		22,658		(128	)		119		(86	)		22,777		(214	)
Mortgage-backed securities
Commercial		-		-			11,287		(1,022	)		11,287		(1,022	)
Agency residential		597,387		(10,129	)		608,422		(20,662	)		1,205,809		(30,791	)
Non-agency residential		1,559		(11	)		392		(173	)		1,951		(184	)
Foreign government securities		371,847		(12,538	)		159,214		(11,268	)		531,061		(23,806	)
Foreign corporate securities		828,567		(21,720	)		239,057		(14,255	)		1,067,624		(35,975	)
Total fixed maturity securities	$	2,967,975	$	(61,127	)	$	1,202,112	$	(56,334	)	$	4,170,087	$	(117,461	)
Equity securities		136,145		(7,006	)		-		-			136,145		(7,006	)
Total	$	3,104,120	$	(68,133	)	$	1,202,112	$	(56,334	)	$	4,306,232	$	(124,467	)

	Duration of Unrealized Loss at December 31, 2013 By Security Type
	Less than 12 months					Greater than 12 months					Total
			Gross					Gross					Gross
			Unrealized					Unrealized					Unrealized
(Dollars in thousands)	Market Value		Depreciation			Market Value		Depreciation			Market Value		Depreciation
Fixed maturity securities - available for sale
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	74,847	$	(1,033	)	$	8,751	$	(645	)	$	83,598	$	(1,678	)
Obligations of U.S. states and political subdivisions		92,760		(4,852	)		39,689		(4,170	)		132,449		(9,022	)
Corporate securities		959,396		(22,331	)		75,946		(4,759	)		1,035,342		(27,090	)
Asset-backed securities		5,494		(6	)		1,128		(416	)		6,622		(422	)
Mortgage-backed securities
Commercial		51		-			11,353		(1,007	)		11,404		(1,007	)
Agency residential		1,220,845		(40,420	)		264,640		(9,755	)		1,485,485		(50,175	)
Non-agency residential		1,758		(22	)		1,541		(204	)		3,299		(226	)
Foreign government securities		409,252		(20,350	)		85,029		(8,997	)		494,281		(29,347	)
Foreign corporate securities		872,907		(34,819	)		151,748		(10,809	)		1,024,655		(45,628	)
Total fixed maturity securities	$	3,637,310	$	(123,833	)	$	639,825	$	(40,762	)	$	4,277,135	$	(164,595	)
Equity securities		127,030		(8,597	)		-		-			127,030		(8,597	)
Total	$	3,764,340	$	(132,430	)	$	639,825	$	(40,762	)	$	4,404,165	$	(173,192	)

Summary Of Aggregate Market Value And Gross Unrealized Depreciation Of Fixed Maturity And Equity Securities, By Contractual Maturity

	Duration of Unrealized Loss at March 31, 2014 By Maturity
	Less than 12 months					Greater than 12 months					Total
			Gross					Gross					Gross
			Unrealized					Unrealized					Unrealized
(Dollars in thousands)	Market Value		Depreciation			Market Value		Depreciation			Market Value		Depreciation
Fixed maturity securities
Due in one year or less	$	182,786	$	(5,312	)	$	46,643	$	(5,320	)	$	229,429	$	(10,632	)
Due in one year through five years		1,331,340		(23,562	)		288,624		(12,169	)		1,619,964		(35,731	)
Due in five years through ten years		740,585		(18,467	)		124,208		(7,167	)		864,793		(25,634	)
Due after ten years		91,660		(3,518	)		122,417		(9,735	)		214,077		(13,253	)
Asset-backed securities		22,658		(128	)		119		(86	)		22,777		(214	)
Mortgage-backed securities		598,946		(10,140	)		620,101		(21,857	)		1,219,047		(31,997	)
Total fixed maturity securities	$	2,967,975	$	(61,127	)	$	1,202,112	$	(56,334	)	$	4,170,087	$	(117,461	)

	Duration of Unrealized Loss at December 31, 2013 By Maturity
		Less than 12 months					Greater than 12 months					Total
				Gross					Gross					Gross
				Unrealized					Unrealized					Unrealized
(Dollars in thousands)		Market Value		Depreciation			Market Value		Depreciation			Market Value		Depreciation
Fixed maturity securities
Due in one year or less		$	143,098	$	(3,503	)	$	46,691	$	(5,330	)	$	189,789	$	(8,833	)
Due in one year through five years			1,125,680		(25,365	)		204,779		(11,279	)		1,330,459		(36,644	)
Due in five years through ten years			810,969		(35,169	)		48,064		(3,844	)		859,033		(39,013	)
Due after ten years			329,415		(19,348	)		61,629		(8,927	)		391,044		(28,275	)
Asset-backed securities			5,494		(6	)		1,128		(416	)		6,622		(422	)
Mortgage-backed securities			1,222,654		(40,442	)		277,534		(10,966	)		1,500,188		(51,408	)
Total fixed maturity securities		$	3,637,310	$	(123,833	)	$	639,825	$	(40,762	)	$	4,277,135	$	(164,595	)

Summary Of Components Of Net Investment Income

	Three Months Ended
	March 31,
(Dollars in thousands)	2014			2013
Fixed maturities	$	116,253		$	120,757
Equity securities		11,459			9,741
Short-term investments and cash		330			304
Other invested assets
Limited partnerships		(2,258	)		17,483
Other		2,021			2,321
Gross investment income before adjustments		127,805			150,606
Funds held interest income (expense)		3,017			4,429
Future policy benefit reserve income (expense)		(303	)		(531	)
Gross investment income		130,519			154,504
Investment expenses		(7,362	)		(8,723	)
Net investment income	$	123,157		$	145,781
(Some amounts may not reconcile due to rounding.)

Summary Of Components Of Net Realized Capital Gains (Losses)

	Three Months Ended
	March 31,
(Dollars in thousands)	2014			2013
Fixed maturity securities, market value:
Other-than-temporary impairments	$	-		$	(191	)
Gains (losses) from sales		(1,948	)		4,877
Fixed maturity securities, fair value:
Gains (losses) from sales		940			(58	)
Gains (losses) from fair value adjustments		-			84
Equity securities, market value:
Gains (losses) from sales		(488	)		233
Equity securities, fair value:
Gains (losses) from sales		(1,415	)		8,019
Gains (losses) from fair value adjustments		24,035			113,757
Short-term investments gain (loss)		2			14
Total net realized capital gains (losses)	$	21,126		$	126,735

Summary Of Gross Gains (Losses) From Sales Of Fixed Maturity And Equity Securities

	Three Months Ended
	March 31,
(Dollars in thousands)	2014			2013
Proceeds from sales of fixed maturity securities	$	349,472		$	258,160
Gross gains from sales		7,936			7,713
Gross losses from sales		(8,944	)		(2,894	)
Proceeds from sales of equity securities	$	179,132		$	107,404
Gross gains from sales		6,620			9,102
Gross losses from sales		(8,523	)		(850	)