0001095073 us-gaap:TreasuryStockMember 2014-01-01 2014-03-31 0001095073 us-gaap:TreasuryStockMember 2013-01-01 2013-03-31 0001095073 us-gaap:AdditionalPaidInCapitalMember 2014-01-01 2014-03-31 0001095073 us-gaap:AdditionalPaidInCapitalMember 2013-01-01 2013-03-31 0001095073 us-gaap:CommonStockMember 2014-01-01 2014-03-31 0001095073 us-gaap:CommonStockMember 2013-01-01 2013-03-31 0001095073 us-gaap:TreasuryStockMember 2014-03-31 0001095073 us-gaap:RetainedEarningsMember 2014-03-31 0001095073 us-gaap:AdditionalPaidInCapitalMember 2014-03-31 0001095073 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2014-03-31 0001095073 us-gaap:TreasuryStockMember 2013-12-31 0001095073 us-gaap:RetainedEarningsMember 2013-12-31 0001095073 us-gaap:AdditionalPaidInCapitalMember 2013-12-31 0001095073 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2013-12-31 0001095073 us-gaap:TreasuryStockMember 2013-03-31 0001095073 us-gaap:RetainedEarningsMember 2013-03-31 0001095073 us-gaap:AdditionalPaidInCapitalMember 2013-03-31 0001095073 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2013-03-31 0001095073 us-gaap:TreasuryStockMember 2012-12-31 0001095073 us-gaap:RetainedEarningsMember 2012-12-31 0001095073 us-gaap:AdditionalPaidInCapitalMember 2012-12-31 0001095073 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2012-12-31 0001095073 us-gaap:RestrictedStockMember 2014-01-01 2014-03-31 0001095073 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2014-01-01 2014-03-31 0001095073 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2013-01-01 2013-03-31 0001095073 2005-12-31 0001095073 2001-12-31 0001095073 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:EquitySecuritiesMember 2014-01-01 2014-03-31 0001095073 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:DebtSecuritiesMember 2014-01-01 2014-03-31 0001095073 re:MarketValueMember us-gaap:EquitySecuritiesMember 2014-01-01 2014-03-31 0001095073 re:MarketValueMember us-gaap:DebtSecuritiesMember 2014-01-01 2014-03-31 0001095073 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:EquitySecuritiesMember 2013-01-01 2013-03-31 0001095073 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:DebtSecuritiesMember 2013-01-01 2013-03-31 0001095073 re:MarketValueMember us-gaap:EquitySecuritiesMember 2013-01-01 2013-03-31 0001095073 re:MarketValueMember us-gaap:DebtSecuritiesMember 2013-01-01 2013-03-31 0001095073 re:UnaffiliatedLifeInsuranceCompanyMember 2014-03-31 0001095073 re:PrudentialInsuranceCompanyMember 2014-03-31 0001095073 re:UnaffiliatedLifeInsuranceCompanyMember 2013-12-31 0001095073 re:PrudentialInsuranceCompanyMember 2013-12-31 0001095073 re:CitibankBilateralAgreementMember 2014-01-01 2014-03-31 0001095073 re:WellsFargoBankGroupCreditFacilityTrancheTwoMember 2014-03-31 0001095073 re:WellsFargoBankGroupCreditFacilityTrancheOneMember 2014-03-31 0001095073 re:WellsFargoBankGroupCreditFacilityTrancheOneMember 2013-12-31 0001095073 re:WellsFargoBankGroupCreditFacilityTrancheTwoIssuanceOneMember 2014-01-01 2014-03-31 0001095073 re:HoldingsLettersOfCreditMember 2014-01-01 2014-03-31 0001095073 re:CitibankBilateralLetterOfCreditTwoMember 2014-01-01 2014-03-31 0001095073 re:CitibankBilateralLetterOfCreditThreeMember 2014-01-01 2014-03-31 0001095073 re:CitibankBilateralLetterOfCreditSixMember 2014-01-01 2014-03-31 0001095073 re:CitibankBilateralLetterOfCreditOneMember 2014-01-01 2014-03-31 0001095073 re:CitibankBilateralLetterOfCreditFourMember 2014-01-01 2014-03-31 0001095073 re:CitibankBilateralLetterOfCreditFiveMember 2014-01-01 2014-03-31 0001095073 re:WellsFargoBankGroupCreditFacilityTrancheTwoIssuanceOneMember 2013-01-01 2013-12-31 0001095073 re:HoldingsLettersOfCreditMember 2013-01-01 2013-12-31 0001095073 re:CitibankBilateralLetterOfCreditTwoMember 2013-01-01 2013-12-31 0001095073 re:CitibankBilateralLetterOfCreditThreeMember 2013-01-01 2013-12-31 0001095073 re:CitibankBilateralLetterOfCreditSixMember 2013-01-01 2013-12-31 0001095073 re:CitibankBilateralLetterOfCreditOneMember 2013-01-01 2013-12-31 0001095073 re:CitibankBilateralLetterOfCreditFourMember 2013-01-01 2013-12-31 0001095073 re:CitibankBilateralLetterOfCreditFiveMember 2013-01-01 2013-12-31 0001095073 re:WellsFargoBankGroupCreditFacilityTrancheTwoIssuanceOneMember 2014-03-31 0001095073 re:RevolvingCreditBorrowingsMember 2014-03-31 0001095073 re:HoldingsRevolvingCreditOneMember 2014-03-31 0001095073 re:HoldingsLettersOfCreditMember 2014-03-31 0001095073 re:CitibankBilateralLetterOfCreditTwoMember 2014-03-31 0001095073 re:CitibankBilateralLetterOfCreditThreeMember 2014-03-31 0001095073 re:CitibankBilateralLetterOfCreditSixMember 2014-03-31 0001095073 re:CitibankBilateralLetterOfCreditOneMember 2014-03-31 0001095073 re:CitibankBilateralLetterOfCreditFourMember 2014-03-31 0001095073 re:CitibankBilateralLetterOfCreditFiveMember 2014-03-31 0001095073 re:CitibankBilateralAgreementMember 2014-03-31 0001095073 re:WellsFargoBankGroupCreditFacilityTrancheTwoIssuanceOneMember 2013-12-31 0001095073 re:WellsFargoBankGroupCreditFacilityMember 2013-12-31 0001095073 re:RevolvingCreditBorrowingsMember 2013-12-31 0001095073 re:HoldingsRevolvingCreditOneMember 2013-12-31 0001095073 re:HoldingsLettersOfCreditMember 2013-12-31 0001095073 re:CitibankBilateralLetterOfCreditTwoMember 2013-12-31 0001095073 re:CitibankBilateralLetterOfCreditThreeMember 2013-12-31 0001095073 re:CitibankBilateralLetterOfCreditSixMember 2013-12-31 0001095073 re:CitibankBilateralLetterOfCreditOneMember 2013-12-31 0001095073 re:CitibankBilateralLetterOfCreditFourMember 2013-12-31 0001095073 re:CitibankBilateralLetterOfCreditFiveMember 2013-12-31 0001095073 re:CitibankBilateralAgreementMember 2013-12-31 0001095073 re:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2014-01-01 2014-03-31 0001095073 re:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2013-01-01 2013-03-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember 2014-03-31 0001095073 us-gaap:ExternalCreditRatingInvestmentGradeMember 2014-03-31 0001095073 us-gaap:AssetBackedSecuritiesMember 2014-03-31 0001095073 re:SubPrimeAndAltLoansMember 2014-03-31 0001095073 re:DueInOneYearThroughFiveYearsMember 2014-03-31 0001095073 re:DueInOneYearOrLessMember 2014-03-31 0001095073 re:DueInFiveYearsThroughTenYearsMember 2014-03-31 0001095073 re:DueAfterTenYearsMember 2014-03-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember 2013-12-31 0001095073 us-gaap:ExternalCreditRatingInvestmentGradeMember 2013-12-31 0001095073 us-gaap:AssetBackedSecuritiesMember 2013-12-31 0001095073 re:SubPrimeAndAltLoansMember 2013-12-31 0001095073 re:DueInOneYearThroughFiveYearsMember 2013-12-31 0001095073 re:DueInOneYearOrLessMember 2013-12-31 0001095073 re:DueInFiveYearsThroughTenYearsMember 2013-12-31 0001095073 re:DueAfterTenYearsMember 2013-12-31 0001095073 re:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2014-01-01 2014-03-31 0001095073 re:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2013-01-01 2013-03-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember 2013-03-31 0001095073 us-gaap:ForeignCorporateDebtSecuritiesMember 2013-03-31 0001095073 us-gaap:AssetBackedSecuritiesMember 2013-03-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2012-12-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember 2012-12-31 0001095073 us-gaap:ForeignCorporateDebtSecuritiesMember 2012-12-31 0001095073 us-gaap:AssetBackedSecuritiesMember 2012-12-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2013-01-01 2013-03-31 0001095073 us-gaap:ForeignCorporateDebtSecuritiesMember 2013-01-01 2013-03-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember 2014-01-01 2014-03-31 0001095073 us-gaap:ForeignCorporateDebtSecuritiesMember 2014-01-01 2014-03-31 0001095073 us-gaap:AssetBackedSecuritiesMember 2014-01-01 2014-03-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember 2013-01-01 2013-03-31 0001095073 us-gaap:AssetBackedSecuritiesMember 2013-01-01 2013-03-31 0001095073 us-gaap:RetainedEarningsMember 2014-01-01 2014-03-31 0001095073 us-gaap:RetainedEarningsMember 2013-01-01 2013-03-31 0001095073 re:UnitedStatesReinsuranceMember 2014-01-01 2014-03-31 0001095073 re:MtLoganReMember 2014-01-01 2014-03-31 0001095073 re:InternationalMember 2014-01-01 2014-03-31 0001095073 re:InsuranceMember 2014-01-01 2014-03-31 0001095073 country:GB 2014-01-01 2014-03-31 0001095073 country:BM 2014-01-01 2014-03-31 0001095073 re:UnitedStatesReinsuranceMember 2013-01-01 2013-03-31 0001095073 re:InternationalMember 2013-01-01 2013-03-31 0001095073 re:InsuranceMember 2013-01-01 2013-03-31 0001095073 country:GB 2013-01-01 2013-03-31 0001095073 country:BM 2013-01-01 2013-03-31 0001095073 us-gaap:NondesignatedMember us-gaap:PutOptionMember 2014-03-31 0001095073 us-gaap:NondesignatedMember us-gaap:PutOptionMember 2013-12-31 0001095073 us-gaap:NondesignatedMember us-gaap:PutOptionMember 2014-01-01 2014-03-31 0001095073 us-gaap:NondesignatedMember us-gaap:PutOptionMember 2013-01-01 2013-03-31 0001095073 us-gaap:PensionPlansDefinedBenefitMember 2014-01-01 2014-03-31 0001095073 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2014-01-01 2014-03-31 0001095073 us-gaap:PensionPlansDefinedBenefitMember 2013-01-01 2013-03-31 0001095073 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2013-01-01 2013-03-31 0001095073 re:FixedRateInterestPeriodMember us-gaap:SubordinatedDebtMember us-gaap:MinimumMember 2014-01-01 2014-03-31 0001095073 re:FixedRateInterestPeriodMember us-gaap:SubordinatedDebtMember us-gaap:MaximumMember 2014-01-01 2014-03-31 0001095073 re:ScheduledMember us-gaap:SubordinatedDebtMember 2014-01-01 2014-03-31 0001095073 re:FinalMember us-gaap:SubordinatedDebtMember 2014-01-01 2014-03-31 0001095073 us-gaap:SubordinatedDebtMember 2014-01-01 2014-03-31 0001095073 us-gaap:SeniorNotesMember 2014-01-01 2014-03-31 0001095073 us-gaap:SubordinatedDebtMember 2013-01-01 2013-12-31 0001095073 us-gaap:SeniorNotesMember 2013-01-01 2013-12-31 0001095073 us-gaap:SeniorNotesMember 2014-01-01 2014-03-31 0001095073 us-gaap:SubordinatedDebtMember 2014-03-31 0001095073 us-gaap:SeniorNotesMember 2014-03-31 0001095073 us-gaap:SubordinatedDebtMember 2013-12-31 0001095073 us-gaap:SeniorNotesMember 2013-12-31 0001095073 us-gaap:JuniorSubordinatedDebtMember 2013-05-24 0001095073 re:LineOfCreditFacilityLineOfCreditFacilityInterestRateBaseRateOptionOneaMember re:WellsFargoBankGroupCreditFacilityMember 2014-01-01 2014-03-31 0001095073 re:LineOfCreditFacilityLineOfCreditFacilityInterestRateBaseRateOptionOneaMember re:CitibankHoldingsCreditFacilityMember 2014-01-01 2014-03-31 0001095073 re:LineOfCreditFacilityInterestRateBaseRateOptionTwoMember re:WellsFargoBankGroupCreditFacilityMember 2014-01-01 2014-03-31 0001095073 re:LineOfCreditFacilityInterestRateBaseRateOptionTwoMember re:CitibankHoldingsCreditFacilityMember 2014-01-01 2014-03-31 0001095073 re:LineOfCreditFacilityInterestRateBaseRateOptionOnecMember re:WellsFargoBankGroupCreditFacilityMember 2014-01-01 2014-03-31 0001095073 re:LineOfCreditFacilityInterestRateBaseRateOptionOnecMember re:CitibankHoldingsCreditFacilityMember 2014-01-01 2014-03-31 0001095073 re:LineOfCreditFacilityInterestRateBaseRateOptionOnebMember re:WellsFargoBankGroupCreditFacilityMember 2014-01-01 2014-03-31 0001095073 re:LineOfCreditFacilityInterestRateBaseRateOptionOnebMember re:CitibankHoldingsCreditFacilityMember 2014-01-01 2014-03-31 0001095073 us-gaap:SubordinatedDebtMember 2014-03-31 0001095073 us-gaap:SeniorNotesMember 2014-03-31 0001095073 us-gaap:SubordinatedDebtMember 2013-12-31 0001095073 us-gaap:SeniorNotesMember 2013-12-31 0001095073 re:LineOfCreditFacilityInterestRateBaseRateOptionOnecMember re:WellsFargoBankGroupCreditFacilityMember 2014-03-31 0001095073 re:LineOfCreditFacilityInterestRateBaseRateOptionOnecMember re:CitibankHoldingsCreditFacilityMember 2014-03-31 0001095073 re:LineOfCreditFacilityInterestRateBaseRateOptionOnebMember re:WellsFargoBankGroupCreditFacilityMember 2014-03-31 0001095073 re:LineOfCreditFacilityInterestRateBaseRateOptionOnebMember re:CitibankHoldingsCreditFacilityMember 2014-03-31 0001095073 re:FixedRateInterestPeriodMember us-gaap:SubordinatedDebtMember 2014-03-31 0001095073 us-gaap:CommonStockMember 2014-03-31 0001095073 us-gaap:CommonStockMember 2013-12-31 0001095073 us-gaap:CommonStockMember 2013-03-31 0001095073 us-gaap:CommonStockMember 2012-12-31 0001095073 re:OtherInvestedAssetsMember 2014-01-01 2014-03-31 0001095073 re:DebtSecuritiesOtherThanTemporaryImpairmentMember 2014-01-01 2014-03-31 0001095073 re:OtherInvestedAssetsMember 2013-01-01 2013-03-31 0001095073 re:DebtSecuritiesOtherThanTemporaryImpairmentMember 2013-01-01 2013-03-31 0001095073 us-gaap:USTreasuryAndGovernmentMember 2014-03-31 0001095073 us-gaap:USStatesAndPoliticalSubdivisionsMember 2014-03-31 0001095073 us-gaap:ForeignCorporateDebtSecuritiesMember 2014-03-31 0001095073 us-gaap:EquitySecuritiesMember 2014-03-31 0001095073 us-gaap:DebtSecuritiesMember 2014-03-31 0001095073 us-gaap:CorporateDebtSecuritiesMember 2014-03-31 0001095073 us-gaap:USTreasuryAndGovernmentMember 2013-12-31 0001095073 us-gaap:USStatesAndPoliticalSubdivisionsMember 2013-12-31 0001095073 us-gaap:ForeignGovernmentDebtSecuritiesMember 2013-12-31 0001095073 us-gaap:ForeignCorporateDebtSecuritiesMember 2013-12-31 0001095073 us-gaap:EquitySecuritiesMember 2013-12-31 0001095073 us-gaap:DebtSecuritiesMember 2013-12-31 0001095073 us-gaap:CorporateDebtSecuritiesMember 2013-12-31 0001095073 re:CitibankHoldingsCreditFacilityMember 2013-12-31 0001095073 2012-12-31 0001095073 us-gaap:SubsidiariesMember 2014-03-31 0001095073 re:StandardAndPoorsFiveHundredIndexMember 2014-01-01 2014-03-31 0001095073 2013-03-31 0001095073 re:EuropeanSovereignSecuritiesMember 2014-01-01 2014-03-31 0001095073 re:AustriaMember 2014-03-31 0001095073 country:NL 2014-03-31 0001095073 country:GB 2014-03-31 0001095073 country:FR 2014-03-31 0001095073 re:LineOfCreditFacilityLineOfCreditFacilityInterestRateBaseRateOptionOneaMember re:CitibankBilateralAgreementMember 2014-01-01 2014-03-31 0001095073 re:LineOfCreditFacilityInterestRateBaseRateOptionOnebMember re:CitibankBilateralAgreementMember 2014-01-01 2014-03-31 0001095073 re:WellsFargoBankGroupCreditFacilityMember 2014-01-01 2014-03-31 0001095073 re:CitibankHoldingsCreditFacilityMember 2014-01-01 2014-03-31 0001095073 re:LineOfCreditFacilityLineOfCreditFacilityInterestRateBaseRateOptionOneaMember re:CitibankBilateralAgreementMember 2014-03-31 0001095073 re:LineOfCreditFacilityInterestRateBaseRateOptionOnebMember re:CitibankBilateralAgreementMember 2014-03-31 0001095073 us-gaap:SubordinatedDebtMember 2014-01-01 2014-03-31 0001095073 re:BeforeAmendedAndRestatedAgreementMember re:WellsFargoBankGroupCreditFacilityMember 2014-03-31 0001095073 re:BeforeAmendedAndRestatedAgreementMember re:CitibankHoldingsCreditFacilityMember 2014-03-31 0001095073 us-gaap:MinimumMember 2014-01-01 2014-03-31 0001095073 us-gaap:MaximumMember 2014-01-01 2014-03-31 0001095073 re:WellsFargoBankGroupCreditFacilityMember 2014-03-31 0001095073 re:CitibankHoldingsCreditFacilityMember 2014-03-31 0001095073 us-gaap:ShortTermInvestmentsMember 2014-01-01 2014-03-31 0001095073 us-gaap:OtherCreditDerivativesMember 2014-01-01 2014-03-31 0001095073 us-gaap:EquitySecuritiesMember 2014-01-01 2014-03-31 0001095073 us-gaap:DebtSecuritiesMember 2014-01-01 2014-03-31 0001095073 re:LimitedPartnershipsMember 2014-01-01 2014-03-31 0001095073 us-gaap:ShortTermInvestmentsMember 2013-01-01 2013-03-31 0001095073 us-gaap:OtherCreditDerivativesMember 2013-01-01 2013-03-31 0001095073 us-gaap:EquitySecuritiesMember 2013-01-01 2013-03-31 0001095073 us-gaap:DebtSecuritiesMember 2013-01-01 2013-03-31 0001095073 re:LimitedPartnershipsMember 2013-01-01 2013-03-31 0001095073 re:FinancialTimesStockExchangeHundredIndexMember 2014-01-01 2014-03-31 0001095073 re:StandardAndPoorsFiveHundredIndexMember us-gaap:MinimumMember 2014-03-31 0001095073 re:StandardAndPoorsFiveHundredIndexMember us-gaap:MaximumMember 2014-03-31 0001095073 re:StandardAndPoorsFiveHundredIndexMember 2014-03-31 0001095073 re:FinancialTimesStockExchangeHundredIndexMember 2014-03-31 0001095073 us-gaap:JuniorSubordinatedDebtMember 2013-05-01 2013-05-24 0001095073 re:StandardAndPoorsFiveHundredIndexMember us-gaap:MinimumMember 2014-01-01 2014-03-31 0001095073 re:StandardAndPoorsFiveHundredIndexMember us-gaap:MaximumMember 2014-01-01 2014-03-31 0001095073 re:FloatingRateInterestPeriodMember us-gaap:SubordinatedDebtMember 2014-01-01 2014-03-31 0001095073 re:FixedRateInterestPeriodMember us-gaap:SubordinatedDebtMember 2014-01-01 2014-03-31 0001095073 us-gaap:SubordinatedDebtMember us-gaap:MinimumMember 2014-01-01 2014-03-31 0001095073 us-gaap:SubordinatedDebtMember us-gaap:MaximumMember 2014-01-01 2014-03-31 0001095073 us-gaap:SubsequentEventMember 2014-04-01 2014-04-24 0001095073 2013-01-01 2013-03-31 0001095073 us-gaap:FairValueInputsLevel1Member 2014-03-31 0001095073 us-gaap:FairValueInputsLevel1Member 2013-12-31 0001095073 us-gaap:USTreasuryAndGovernmentMember us-gaap:FairValueInputsLevel2Member 2014-03-31 0001095073 us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueInputsLevel2Member 2014-03-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember us-gaap:FairValueInputsLevel2Member 2014-03-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember us-gaap:FairValueInputsLevel3Member 2014-03-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember us-gaap:FairValueInputsLevel2Member 2014-03-31 0001095073 us-gaap:ForeignGovernmentDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member 2014-03-31 0001095073 us-gaap:ForeignCorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel3Member 2014-03-31 0001095073 us-gaap:ForeignCorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member 2014-03-31 0001095073 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member 2014-03-31 0001095073 us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:FairValueInputsLevel2Member 2014-03-31 0001095073 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueInputsLevel3Member 2014-03-31 0001095073 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueInputsLevel2Member 2014-03-31 0001095073 us-gaap:USTreasuryAndGovernmentMember 2014-03-31 0001095073 us-gaap:USStatesAndPoliticalSubdivisionsMember 2014-03-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2014-03-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2014-03-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember 2014-03-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember 2014-03-31 0001095073 us-gaap:ForeignGovernmentDebtSecuritiesMember 2014-03-31 0001095073 us-gaap:ForeignGovernmentDebtSecuritiesMember 2014-03-31 0001095073 us-gaap:ForeignCorporateDebtSecuritiesMember 2014-03-31 0001095073 us-gaap:FairValueInputsLevel3Member 2014-03-31 0001095073 us-gaap:FairValueInputsLevel2Member 2014-03-31 0001095073 us-gaap:CorporateDebtSecuritiesMember 2014-03-31 0001095073 us-gaap:CommercialMortgageBackedSecuritiesMember 2014-03-31 0001095073 us-gaap:CommercialMortgageBackedSecuritiesMember 2014-03-31 0001095073 us-gaap:AssetBackedSecuritiesMember 2014-03-31 0001095073 us-gaap:AssetBackedSecuritiesMember 2014-03-31 0001095073 re:EuropeanSovereignSecuritiesMember 2014-03-31 0001095073 us-gaap:USTreasuryAndGovernmentMember us-gaap:FairValueInputsLevel2Member 2013-12-31 0001095073 us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueInputsLevel2Member 2013-12-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember us-gaap:FairValueInputsLevel2Member 2013-12-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember us-gaap:FairValueInputsLevel3Member 2013-12-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember us-gaap:FairValueInputsLevel2Member 2013-12-31 0001095073 us-gaap:ForeignGovernmentDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member 2013-12-31 0001095073 us-gaap:ForeignCorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel3Member 2013-12-31 0001095073 us-gaap:ForeignCorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member 2013-12-31 0001095073 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member 2013-12-31 0001095073 us-gaap:CommercialMortgageBackedSecuritiesMember us-gaap:FairValueInputsLevel2Member 2013-12-31 0001095073 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueInputsLevel3Member 2013-12-31 0001095073 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueInputsLevel2Member 2013-12-31 0001095073 us-gaap:USTreasuryAndGovernmentMember 2013-12-31 0001095073 us-gaap:USStatesAndPoliticalSubdivisionsMember 2013-12-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2013-12-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2013-12-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember 2013-12-31 0001095073 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember 2013-12-31 0001095073 us-gaap:ForeignGovernmentDebtSecuritiesMember 2013-12-31 0001095073 us-gaap:ForeignCorporateDebtSecuritiesMember 2013-12-31 0001095073 us-gaap:FairValueInputsLevel3Member 2013-12-31 0001095073 us-gaap:FairValueInputsLevel2Member 2013-12-31 0001095073 us-gaap:CorporateDebtSecuritiesMember 2013-12-31 0001095073 us-gaap:CommercialMortgageBackedSecuritiesMember 2013-12-31 0001095073 us-gaap:CommercialMortgageBackedSecuritiesMember 2013-12-31 0001095073 us-gaap:AssetBackedSecuritiesMember 2013-12-31 0001095073 us-gaap:AssetBackedSecuritiesMember 2013-12-31 0001095073 2013-12-31 0001095073 2013-01-01 2013-12-31 0001095073 2012-01-01 2012-12-31 0001095073 2014-03-31 0001095073 2014-05-01 0001095073 2014-01-01 2014-03-31 re:security iso4217:USD xbrli:shares iso4217:GBP re:item xbrli:pure iso4217:USD xbrli:shares false --12-31 Q1 2014 2014-03-31 10-Q 0001095073 46107042 Large Accelerated Filer EVEREST RE GROUP LTD <div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">116,253</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">120,757</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">11,459</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">9,741</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Short-term investments and cash</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">330</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">304</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Other invested assets</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Limited partnerships</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(2,258</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">17,483</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Other</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">2,021</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">2,321</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Gross investment income before adjustments</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">127,805</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">150,606</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Funds held interest income (expense)</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">3,017</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">4,429</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Future policy benefit reserve income (expense)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(303</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(531</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Gross investment income</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">130,519</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">154,504</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Investment expenses</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(7,362</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(8,723</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Net investment income</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">123,157</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">145,781</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Some amounts may not reconcile due to rounding.)</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table> </div> 121387000 10876000 2616000 0 12636907000 173043000 173043000 270441000 270441000 4079416000 12630780000 6127000 2885813000 1780769000 4819000 4819000 2279053000 2279053000 1002528000 161025000 167744000 5299000 270441000 4079416000 2885332000 481000 1780769000 4472000 347000 2279053000 1002528000 161025000 13019176000 796804000 184064000 184064000 249334000 249334000 4454354000 13014767000 4409000 3035801000 1748271000 1748271000 4405000 4405000 2214344000 2214344000 966324000 162279000 180392000 3672000 249334000 4454354000 3035328000 473000 1748271000 4141000 264000 2214344000 966324000 162279000 144081000 127030000 17051000 153822000 136145000 17677000 50831000 46927000 <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify"> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">7.   CAPITAL TRANSACTIONS</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">On October 14, 2011, the Company renewed its shelf registration statement on Form S-3ASR with the Securities and Exchange Commission (the "SEC"), as a Well Known Seasoned Issuer.  This shelf registration statement can be used by Group to register common shares, preferred shares, debt securities, warrants, share purchase contracts and share purchase units; by Holdings to register debt securities and by Everest Re Capital Trust III ("Capital Trust III") to register trust preferred securities.</div></div></div> </div> 450000000 0 66160000 57312000 <div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td></tr> <tr><td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="78%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="19%" colspan="7"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td></tr> <tr><td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" width="78%"> </td> <td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; border-right-color: ;" valign="bottom" width="19%" colspan="7"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td></tr> <tr><td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%" align="right"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: center; border-right-color: ;" valign="bottom" width="9%" colspan="3"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; text-align: center; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: center; border-right-color: ;" valign="bottom" width="9%" colspan="3"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td></tr> <tr bgcolor="#cceeff"><td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Credit facility fees incurred</div></td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%" align="right"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%">$</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: right; border-right-color: ;" valign="bottom" width="7%">174</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%" align="right"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%">$</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: right; border-right-color: ;" valign="bottom" width="7%">1,129</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td></tr></table> </div> 34000 0.0050 0.0025 P10Y P10Y 2047-05-01 March 2031 June 2017 7282000 399000 434000 6598.4 1872.3 6598.40 1872.34 0 0 35423000 35423000 37083000 37083000 5989.75 1540.63 1141.21 <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 9pt; font-family: 'franklin gothic book';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="74%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="10%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At March 31, 2014</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="10%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At December 31, 2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="74%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="9%">144,411</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="9%">144,734</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 9pt; font-family: 'franklin gothic book';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="74%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="10%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At March 31, 2014</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="10%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At December 31, 2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="74%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="9%">30,123</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="9%">30,664</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> </div> 0.41 0.25 <div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Liabilities:</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Balance, beginning of period</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">35,423</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">79,467</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 8pt;" align="left">Total (gains) or losses (realized/unrealized)</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 15pt;" align="left">Included in earnings</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">1,661</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(15,285</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 15pt;" align="left">Included in other comprehensive income (loss)</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 8pt;" align="left">Purchases, issuances and settlements</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 8pt;" align="left">Transfers in and/or (out) of Level 3</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Balance, end of period</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">37,083</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">64,181</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">The amount of total gains or losses for the period included in earnings</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 8pt;" align="left">(or changes in net assets) attributable to the change in unrealized</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 15pt;" align="left">gains or losses relating to liabilities still held at the reporting date</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Some amounts may not reconcile due to rounding.)</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table> </div> 4429000 3017000 -531000 -303000 150606000 17483000 120757000 9741000 2321000 304000 127805000 -2258000 116253000 11459000 2021000 330000 148773000 107003000 2155750000 4881367000 3387000 3388000 0.0252 0.0364 0.0128 P3M P1M 3 2 P3Y P4Y P5Y P5Y <div> <div style="display: block; text-indent: 0pt;"> <div> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify"> </div> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;" align="justify">11.  CREDIT FACILITIES</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;" align="justify">The Company has three credit facilities for a total commitment of up to $1,250,000 thousand, providing for the issuance of letters of credit and/or unsecured revolving credit lines. The following table presents the costs incurred in connection with the three credit facilities for the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; letter-spacing: normal; text-indent: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td></tr> <tr><td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="78%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="19%" colspan="7"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td></tr> <tr><td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" width="78%"> </td> <td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; border-right-color: ;" valign="bottom" width="19%" colspan="7"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td></tr> <tr><td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%" align="right"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: center; border-right-color: ;" valign="bottom" width="9%" colspan="3"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; text-align: center; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: center; border-right-color: ;" valign="bottom" width="9%" colspan="3"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td></tr> <tr bgcolor="#cceeff"><td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Credit facility fees incurred</div></td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%" align="right"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%">$</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: right; border-right-color: ;" valign="bottom" width="7%">174</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%" align="right"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%">$</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: right; border-right-color: ;" valign="bottom" width="7%">1,129</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;" align="justify">The terms and outstanding amounts for each facility are discussed below:</div></div> </div> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify">Group Credit Facility</div> <div style="display: block; text-indent: 0pt;"> </div> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify">Effective June 22, 2012, Group, Bermuda Re and Everest International entered into a four year, $800,000 thousand senior credit facility with a syndicate of lenders, which amended and restated in its entirety the July 27, 2007, five year, $850,000 thousand senior credit facility.  Both the June 22, 2012 and July 27, 2007 senior credit facilities, which have similar terms, are referred to as the "Group Credit Facility".  Wells Fargo Corporation ("Wells Fargo Bank") is the administrative agent for the Group Credit Facility, which consists of two tranches.  Tranche one provides up to $200,000 thousand of unsecured revolving credit for liquidity and general corporate purposes, and for the issuance of unsecured standby letters of credit.  The interest on the revolving loans shall, at the Company's option, be either (1) the Base Rate (as defined below) or (2) an adjusted London Interbank Offered Rate ("LIBOR") plus a margin.  The Base Rate is the higher of (a) the prime commercial lending rate established by Wells Fargo Bank, (b) the Federal Funds Rate plus 0.5% per annum or (c) the one month LIBOR Rate plus 1.0% per annum. The amount of margin and the fees payable for the Group Credit Facility depends on Group's senior unsecured debt rating.  Tranche two exclusively provides up to $600,000 thousand for the issuance of standby letters of credit on a collateralized basis.</div> <div style="display: block; text-indent: 0pt;"> </div> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify"> <div> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The Group Credit Facility requires Group to maintain a debt to capital ratio of not greater than 0.35 to 1 and to maintain a minimum net worth.  Minimum net worth is an amount equal to the sum of $4,249,963 thousand plus 25% of consolidated net income for each of Group's fiscal quarters, for which statements are available ending on or after January 1, 2012 and for which consolidated net income is positive, plus 25% of any increase in consolidated net worth during such period attributable to the issuance of ordinary and preferred shares, which at March 31, 2014, was $4,881,367 thousand.  As of March 31, 2014, the Company was in compliance with all Group Credit Facility covenants.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The following table summarizes the outstanding letters of credit and/or borrowings for the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="20%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="12%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="27%" colspan="8"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At March 31, 2014</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="27%" colspan="8"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At December 31, 2013</div></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="bottom" width="20%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Bank</div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="12%" align="left"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Commitment</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">In Use</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="11%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Date of Expiry</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Commitment</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">In Use</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="11%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Date of Expiry</div></td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="20%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Wells Fargo Bank Group Credit Facility</div></td> <td valign="bottom" width="12%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Tranche One</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">200,000</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="11%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">200,000</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="11%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="20%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Tranche Two</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">600,000</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">501,853</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="11%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">12/31/2014</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">600,000</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">502,059</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="11%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">12/31/2014</div></td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="32%" colspan="2" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total Wells Fargo Bank Group Credit Facility</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">800,000</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">501,853</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="11%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">800,000</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">502,059</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="11%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Holdings Credit Facility</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Effective August 15, 2011, the Company entered into a three year, $150,000 thousand unsecured revolving credit facility with a syndicate of lenders, referred to as the "Holdings Credit Facility".  Citibank N.A. is the administrative agent for the Holdings Credit Facility.  The Holdings Credit Facility may be used for liquidity and general corporate purposes.  The Holdings Credit Facility provides for the borrowing of up to $150,000 thousand with interest at a rate selected by Holdings equal to either, (1) the Base Rate (as defined below) or (2) a periodic fixed rate equal to the Eurodollar Rate plus an applicable margin.  The Base Rate means a fluctuating interest rate per annum in effect from time to time to be equal to the higher of (a) the rate of interest publicly announced by Citibank as its base rate, (b) 0.5% per annum above the Federal Funds Rate or (c) 1% above the one month London Interbank Offered Rate ("LIBOR"), in each case plus the applicable margin.  The amount of margin and the fees payable for the Holdings Credit Facility depends upon Holdings' senior unsecured debt rating. <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The Holdings Credit Facility requires Holdings to maintain a debt to capital ratio of not greater than 0.35 to 1 and Everest Re to maintain its statutory surplus at $1,875,000 thousand plus 25% of future aggregate net income and 25% of future aggregate capital contributions after December 31, 2010, which at March 31, 2014, was $2,155,750 thousand.  As of March 31, 2014, Holdings was in compliance with all Holdings Credit Facility covenants.</div></div> </div></div></div></div></div></div> <div style="display: block; text-indent: 0pt;"> <div> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify"> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">There are certain regulatory and contractual restrictions on the ability of Holdings' operating subsidiaries to transfer funds to Holdings in the form of cash dividends, loans or advances.  The insurance laws of the State of Delaware, where Holdings' direct insurance subsidiaries are domiciled, require regulatory approval before those subsidiaries can pay dividends or make loans or advances to Holdings that exceed certain statutory thresholds.  At December 31, 2013, $2,294,461 thousand of the $3,136,782 thousand in net assets of Holdings' consolidated subsidiaries were subject to the foregoing regulatory restrictions.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">  </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The following table summarizes outstanding letters of credit and/or borrowings for the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="23%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="36%" colspan="9"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At March 31, 2014</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="36%" colspan="9"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At December 31, 2013</div></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="bottom" width="23%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Bank</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Commitment</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">In Use</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="8%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Date of Loan</div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Maturity/Expiry Date</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Commitment</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">In Use</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="8%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Date of Loan</div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Maturity/Expiry Date</div></td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="23%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Citibank Holdings Credit Facility</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="padding-bottom: 2px; text-align: right;" valign="bottom" width="6%">150,000</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="8%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="padding-bottom: 2px; text-align: right;" valign="bottom" width="6%">150,000</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="8%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="23%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 11pt;" align="left">Total revolving credit borrowings</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="8%"> </td> <td valign="bottom" width="12%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="8%"> </td> <td valign="bottom" width="12%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="23%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 11pt;" align="left">Total letters of credit</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">851</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="8%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">12/31/2014</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">851</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="8%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">12/31/2014</div></td></tr> <tr bgcolor="white"><td valign="bottom" width="23%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="8%"> </td> <td valign="bottom" width="12%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="8%"> </td> <td valign="bottom" width="12%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="23%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total Citibank Holdings Credit Facility</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">150,000</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">851</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="8%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">150,000</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">851</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="8%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Bermuda Re Letter of Credit Facility</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: -0.2pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Bermuda Re has a $300,000 thousand letter of credit issuance facility with Citibank N.A. referred to as the "Bermuda Re Letter of Credit Facility", which commitment is reconfirmed annually with updated fees.  The Bermuda Re Letter of Credit Facility provides for the issuance of up to $300,000 thousand of secured letters of credit to collateralize reinsurance obligations as a non-admitted reinsurer.  The interest on drawn letters of credit shall be (A) 0.35% per annum of the principal amount of issued standard letters of credit (expiry of 15 months or less) and (B) 0.45% per annum of the principal amount of issued extended tenor letters of credit (expiry maximum of up to 60 months).  The commitment fee on undrawn credit shall be 0.15% per annum.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The following table summarizes the outstanding letters of credit for the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="35%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="28%" colspan="8"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At March 31, 2014</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="28%" colspan="8"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At December 31, 2013</div></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="bottom" width="35%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Bank</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Commitment</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">In Use</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Date of Expiry</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Commitment</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">In Use</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Date of Expiry</div></td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="35%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Citibank Bilateral Letter of Credit Agreement</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">300,000</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">3,672</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">11/24/2014</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">300,000</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">119</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">8/30/2014</div></td></tr> <tr bgcolor="white"><td valign="bottom" width="35%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">79,214</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">12/31/2014</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">3,672</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">11/24/2014</div></td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="35%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">80</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">8/30/2015</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">79,336</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">12/31/2014</div></td></tr> <tr bgcolor="white"><td valign="bottom" width="35%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">4,105</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">12/31/2015</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,045</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">12/31/2015</div></td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="35%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">107,343</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">3/30/2018</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">22,800</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">12/31/2017</div></td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="35%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">39,650</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">6/30/2018</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">129,147</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">3/30/2018</div></td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="35%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total Citibank Bilateral Agreement</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">300,000</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">234,064</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">300,000</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">236,119</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> </div> </div></div></div></div></div></div></div> </div> 1.00 332631000 439708000 P30Y P12Y P60M P15M 8467000 -1564000 2 381241000 291108000 -46608000 53395000 508447000 485771000 1016289000 1163440000 1566000 8546000 0.992 0.990 0.25 0.25 0.25 0.25 0.0045 0.0035 0.219 0.525 0.056 0.067 0.05 0.05 0.05 0.80 45416000 410762000 <div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="74%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="11%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At March 31, 2014</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="11%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At December 31, 2013</div></td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="74%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Pre-tax cumulative unrealized appreciation (depreciation)</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="9%">3,245</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="9%">3,169</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table> </div> 13492000 612044000 490745000 254496000 328709000 1229000 534000 174628000 184175000 <div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="37%"> </td> <td valign="bottom" width="2%"> </td> <td valign="bottom" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three months ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three months ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="2%"> </td> <td valign="bottom" width="39%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Affected line item within the statements of</div></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="bottom" width="37%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">AOCI component</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="2%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31, 2014</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31, 2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="2%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="39%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">operations and comprehensive income (loss)</div></td></tr> <tr><td valign="bottom" width="37%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td valign="bottom" width="2%"> </td> <td valign="bottom" width="8%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="8%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="2%"> </td> <td valign="bottom" width="39%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="37%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">URA(D) on securities</div></td> <td valign="bottom" width="2%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">2,436</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">(4,919</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="2%" align="left"> </td> <td valign="bottom" width="39%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Other net realized capital gains (losses)</div></td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="37%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="2%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">(562</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">828</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="2%" align="left"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="39%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Income tax expense (benefit)</div></td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="37%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="2%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">1,874</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">(4,091</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="2%" align="left"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="39%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net income (loss)</div></td></tr> <tr bgcolor="white"><td valign="bottom" width="37%"> </td> <td valign="bottom" width="2%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="2%"> </td> <td valign="bottom" width="39%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="37%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Benefit plan net gain (loss)</div></td> <td valign="bottom" width="2%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">1,186</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">2,070</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="2%" align="left"> </td> <td valign="bottom" width="39%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Other underwriting expenses</div></td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="37%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="2%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">(415</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">(724</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="2%" align="left"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="39%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Income tax expense (benefit)</div></td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="37%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="2%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">771</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">1,346</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="2%" align="left"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="39%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net income (loss)</div></td></tr></table> </div> 87500000 213700000 <div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="33%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="34%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="10%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="10%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="33%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Derivatives not designated as</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="34%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Location of fair value</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="11%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="11%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At</div></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="bottom" width="33%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">hedging instruments</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="34%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">in balance sheets</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="11%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31, 2014</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="11%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">December 31, 2013</div></td></tr> <tr><td valign="bottom" width="33%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="34%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="10%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="10%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="33%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity index put option contracts</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="34%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity index put option liability</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="9%">37,083</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="9%">35,423</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="33%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Total</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="34%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="9%">37,083</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="9%">35,423</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr></table> </div> <div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="35%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="37%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="7"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">For the Three Months Ended</div></td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="35%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Derivatives not designated as</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="37%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Location of gain (loss) in statements of</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="7"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="bottom" width="35%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">hedging instruments</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="37%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">operations and comprehensive income (loss)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="3"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="3"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td></tr> <tr><td valign="bottom" width="35%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="37%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="35%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity index put option contracts</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="37%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net derivative gain (loss)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(1,661</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">15,285</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="35%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">Total</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="37%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(1,661</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">15,285</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr></table> </div> <div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">United Kingdom</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">206,783</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">147,987</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table> </div> <div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Interest expense incurred</div></td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">5,113</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table> </div> <div> <table style="font-size: 10pt; font-family: times new roman;" cellspacing="0" cellpadding="0" width="100%"> <tr><td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td></tr> <tr><td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom">  </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" colspan="6" nowrap="nowrap"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" nowrap="nowrap"> </td></tr> <tr><td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom">  </td> <td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; border-right-color: ;" valign="bottom" colspan="6" nowrap="nowrap"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: left; border-right-color: ;" valign="bottom" nowrap="nowrap"> </td></tr> <tr><td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" align="right"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: center; border-right-color: ;" valign="bottom" colspan="2" nowrap="nowrap"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: left; border-right-color: ;" valign="bottom" nowrap="nowrap"> </td> <td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" align="right"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: center; border-right-color: ;" valign="bottom" colspan="2" nowrap="nowrap"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: left; border-right-color: ;" valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"><td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="76%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Interest expense incurred</div></td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%" align="right"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%">$</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: right; border-right-color: ;" valign="bottom" width="9%">3,937</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%" nowrap="nowrap"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%" align="right"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%">$</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: right; border-right-color: ;" valign="bottom" width="9%">3,937</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%" nowrap="nowrap"> </td></tr></table> </div> <div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="78%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="78%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Interest expense incurred</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">3,388</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">3,387</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table> </div> <div> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">U.S. Reinsurance</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Gross written premiums</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">495,641</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">434,791</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net written premiums</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">497,757</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">434,639</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Premiums earned</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">429,641</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">392,616</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Incurred losses and LAE</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">213,455</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">198,158</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Commission and brokerage</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">92,968</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">87,326</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Other underwriting expenses</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">9,482</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">10,534</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Underwriting gain (loss)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">113,736</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">96,598</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">International</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Gross written premiums</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">321,242</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">297,560</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net written premiums</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">309,037</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">293,982</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Premiums earned</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">318,381</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">311,978</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Incurred losses and LAE</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">163,174</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">161,199</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Commission and brokerage</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">70,974</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">71,444</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Other underwriting expenses</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">7,837</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">7,930</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Underwriting gain (loss)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">76,396</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">71,405</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Bermuda</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Gross written premiums</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">183,415</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">195,758</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net written premiums</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">182,570</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">195,823</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Premiums earned</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">173,686</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">185,333</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Incurred losses and LAE</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">94,508</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">91,996</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Commission and brokerage</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">45,708</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">43,651</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Other underwriting expenses</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">8,286</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">7,759</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Underwriting gain (loss)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">25,184</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">41,927</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Insurance</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Gross written premiums</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">230,650</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">252,681</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net written premiums</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">211,668</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">225,249</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Premiums earned</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">203,237</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">198,832</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Incurred losses and LAE</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">142,191</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">141,291</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Commission and brokerage</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">34,209</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">30,625</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Other underwriting expenses</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">23,233</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">26,723</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Underwriting gain (loss)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">3,604</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">193</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Mt. Logan Re</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Gross written premiums</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">36,476</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net written premiums</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">26,557</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Premiums earned</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">19,545</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Incurred losses and LAE</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">6,081</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Commission and brokerage</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">2,143</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Other underwriting expenses</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">1,800</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Underwriting gain (loss)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">9,521</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div></div> </div> <div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Underwriting gain (loss)</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">228,441</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">210,123</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify">Net investment income</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">123,157</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">145,781</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net realized capital gains (losses)</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">21,126</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">126,735</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net derivative gain (loss)</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(1,661</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">15,285</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify">Corporate expenses</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(4,945</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(5,717</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Interest, fee and bond issue cost amortization expense</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(7,568</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(13,481</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Other income (expense)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(3,296</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(8,887</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Income (loss) before taxes</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">355,254</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">469,839</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr></table> </div> 0 0 <div> <div style="display: block; text-indent: 0pt;"> <div> <div style="display: block; text-indent: 0pt;"> </div> <div style="display: block; text-indent: 0pt;"> <div> <div> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="46%" colspan="22"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Duration of Unrealized Loss at March 31, 2014 By Maturity</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Less than 12 months</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Greater than 12 months</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Total</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturity securities</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Due in one year or less</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">182,786</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(5,312</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">46,643</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(5,320</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">229,429</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(10,632</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Due in one year through five years</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,331,340</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(23,562</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">288,624</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(12,169</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,619,964</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(35,731</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Due in five years through ten years</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">740,585</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(18,467</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">124,208</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(7,167</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">864,793</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(25,634</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Due after ten years</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">91,660</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(3,518</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">122,417</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(9,735</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">214,077</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(13,253</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Asset-backed securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">22,658</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(128</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">119</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(86</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">22,777</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(214</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Mortgage-backed securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">598,946</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(10,140</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">620,101</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(21,857</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">1,219,047</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(31,997</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total fixed maturity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">2,967,975</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(61,127</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">1,202,112</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(56,334</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,170,087</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(117,461</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div></div> </div> </div> <div> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr><td style="padding-bottom: 2px;" valign="bottom" width="1%">  </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="52%" colspan="22"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Duration of Unrealized Loss at December 31, 2013 By Maturity</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="45%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Less than 12 months</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Greater than 12 months</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Total</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="45%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="45%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="45%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="45%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturity securities</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="45%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Due in one year or less</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">143,098</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">(3,503</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">46,691</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">(5,330</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">189,789</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">(8,833</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="45%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Due in one year through five years</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">1,125,680</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(25,365</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">204,779</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(11,279</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">1,330,459</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(36,644</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="45%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Due in five years through ten years</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">810,969</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(35,169</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">48,064</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(3,844</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">859,033</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(39,013</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="45%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Due after ten years</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">329,415</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(19,348</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">61,629</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(8,927</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">391,044</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(28,275</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="45%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Asset-backed securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">5,494</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(6</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">1,128</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(416</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">6,622</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(422</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="45%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Mortgage-backed securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">1,222,654</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(40,442</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">277,534</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(10,966</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">1,500,188</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(51,408</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="45%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total fixed maturity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">3,637,310</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(123,833</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">639,825</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(40,762</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">4,277,135</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(164,595</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%">)</td></tr></table></div> </div></div></div></div></div> </div> <div> <div style="display: block; text-indent: 0pt;"> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;">  </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="46%" colspan="22"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Duration of Unrealized Loss at March 31, 2014 By Security Type</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Less than 12 months</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Greater than 12 months</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Total</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturity securities - available for sale</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">U.S. Treasury securities and obligations of</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">U.S. government agencies and corporations</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">54,900</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(988</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">8,689</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(723</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">63,589</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(1,711</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Obligations of U.S. states and political subdivisions</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">35,182</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(1,091</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">68,552</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(3,471</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">103,734</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(4,562</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Corporate securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,055,875</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(14,522</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">106,380</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(4,674</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,162,255</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(19,196</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Asset-backed securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">22,658</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(128</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">119</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(86</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">22,777</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(214</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Mortgage-backed securities</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">Commercial</div></td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">11,287</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(1,022</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">11,287</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(1,022</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">Agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">597,387</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(10,129</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">608,422</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(20,662</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,205,809</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(30,791</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">Non-agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,559</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(11</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">392</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(173</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,951</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(184</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Foreign government securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">371,847</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(12,538</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">159,214</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(11,268</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">531,061</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(23,806</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Foreign corporate securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">828,567</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(21,720</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">239,057</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(14,255</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">1,067,624</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(35,975</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total fixed maturity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">2,967,975</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(61,127</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">1,202,112</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(56,334</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,170,087</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(117,461</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">136,145</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(7,006</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">136,145</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(7,006</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">3,104,120</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(68,133</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">1,202,112</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(56,334</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,306,232</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(124,467</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> </div> </div></div> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;">  </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="46%" colspan="22"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Duration of Unrealized Loss at December 31, 2013 By Security Type</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Less than 12 months</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Greater than 12 months</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Total</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturity securities - available for sale</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">U.S. Treasury securities and obligations of</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 12pt;" align="left">U.S. government agencies and corporations</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">74,847</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(1,033</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">8,751</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(645</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">83,598</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(1,678</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Obligations of U.S. states and political subdivisions</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">92,760</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(4,852</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">39,689</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(4,170</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">132,449</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(9,022</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Corporate securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">959,396</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(22,331</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">75,946</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(4,759</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,035,342</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(27,090</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Asset-backed securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">5,494</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(6</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,128</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(416</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">6,622</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(422</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Mortgage-backed securities</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 12pt;" align="left">Commercial</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">51</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">11,353</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(1,007</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">11,404</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(1,007</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 12pt;" align="left">Agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,220,845</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(40,420</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">264,640</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(9,755</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,485,485</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(50,175</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 12pt;" align="left">Non-agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,758</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(22</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,541</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(204</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">3,299</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(226</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Foreign government securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">409,252</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(20,350</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">85,029</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(8,997</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">494,281</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(29,347</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Foreign corporate securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">872,907</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(34,819</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">151,748</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(10,809</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">1,024,655</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(45,628</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total fixed maturity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">3,637,310</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(123,833</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">639,825</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(40,762</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,277,135</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(164,595</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">127,030</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(8,597</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">127,030</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(8,597</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">3,764,340</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(132,430</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">639,825</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(40,762</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,404,165</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(173,192</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr></table></div> </div></div></div> </div> </div> 0.03 0.03 P6Y3M18D P17Y P3Y1M6D <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify"> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">12.  TRUST AGREEMENTS</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Certain subsidiaries of Group have established trust agreements, which effectively use the Company's investments as collateral, as security for assumed losses payable to certain non-affiliated ceding companies.  At March 31, 2014, the total amount on deposit in trust accounts was $262,583 thousand.</div></div></div> </div> <div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Increase (decrease) during the period between the market value and cost</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">of investments carried at market value, and deferred taxes thereon:</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Fixed maturity securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">64,466</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">(47,947</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Fixed maturity securities, other-than-temporary impairment</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">76</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(228</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Equity securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">2,083</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(2,017</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Other invested assets</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Change in unrealized appreciation (depreciation), pre-tax</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">66,625</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(50,192</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Deferred tax benefit (expense)</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(11,280</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(735</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Deferred tax benefit (expense), other-than-temporary impairment</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">34</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Change in unrealized appreciation (depreciation),</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">net of deferred taxes, included in shareholders' equity</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">55,345</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(50,893</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr></table> </div> -1439000 76000 -401335000 55269000 -228000 76000 -194000 76000 -34000 0.232 0.2500 0.208 1.00

119058000

116910000

603928000

201154000

256499000

62511000

38896000

38125000

-4368000

-4530000

-7167000

157728000

211207000

55000000

2029774000

2036320000

18607000

13572000

13000

14000

2294461000

454

19808036000

20112395000

148342000

156000000

173043000

270441000

4079416000

12636907000

144081000

2885813000

1780769000

4819000

2279053000

1002528000

161025000

184064000

249334000

4454354000

13019176000

153822000

3035801000

1748271000

4405000

2214344000

966324000

162279000

169980000

254765000

3950887000

12391164000

148342000

2844912000

1740337000

4816000

2294719000

970735000

160013000

181005000

234356000

4311095000

12708891000

156000000

2980190000

1700019000

4302000

2209374000

927315000

161235000

-50192000

-228000

-47947000

-2017000

66625000

76000

64466000

2083000

-50893000

55345000

40762000

416000

1007000

4759000

40762000

10809000

8997000

204000

9755000

4170000

645000

56334000

86000

1022000

4674000

56334000

14255000

11268000

173000

20662000

3471000

723000

173192000

422000

1007000

27090000

164595000

8597000

45628000

29347000

226000

50175000

9022000

1678000

124467000

214000

1022000

19196000

117461000

7006000

35975000

23806000

184000

30791000

4562000

1711000

4404165000

6622000

11404000

1035342000

4277135000

127030000

1024655000

494281000

3299000

1485485000

132449000

83598000

4306232000

22777000

11287000

1162255000

4170087000

136145000

1067624000

531061000

1951000

1205809000

103734000

63589000

132430000

6000

22331000

123833000

8597000

34819000

20350000

22000

40420000

4852000

1033000

68133000

128000

14522000

61127000

7006000

21720000

12538000

11000

10129000

1091000

988000

3764340000

5494000

51000

959396000

3637310000

127030000

872907000

409252000

1758000

1220845000

92760000

74847000

3104120000

22658000

1055875000

2967975000

136145000

828567000

371847000

1559000

597387000

35182000

54900000

639825000

1128000

11353000

75946000

639825000

151748000

85029000

1541000

264640000

39689000

8751000

1202112000

119000

11287000

106380000

1202112000

239057000

159214000

392000

608422000

68552000

8689000

2081908000

2237873000

2101234000

2278200000

5565112000

5567088000

5740662000

5728265000

960812000

968937000

999856000

1043597000

12391164000

169980000

254765000

4816000

2294719000

12708891000

181005000

234356000

4302000

2209374000

1059052000

1305956000

1067799000

1316967000

19388000

1462079000

1342278000

119801000

1398430000

1282347000

116083000

7713000

9102000

7936000

6620000

2894000

850000

8944000

8523000

3485000

16683000

155619000

410338000

4336000

86529000

69779000

229000

34509000

40815000

2690000

3273000

16000000

162455000

427746000

4828000

91586000

72058000

287000

35761000

43571000

2755000

422000

1007000

27090000

164595000

8597000

45628000

29347000

226000

50175000

9022000

1678000

214000

1022000

19196000

117461000

7006000

35975000

23806000

184000

30791000

4562000

1711000

<div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;">  </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td style="padding-bottom: 2px;" valign="bottom" width="66%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="30%" colspan="14"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At March 31, 2014</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="66%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Amortized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Cost</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Appreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturity securities</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">U.S. Treasury securities and obligations of</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">U.S. government agencies and corporations</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">161,235</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">2,755</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(1,711</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">162,279</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Obligations of U.S. states and political subdivisions</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">927,315</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">43,571</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(4,562</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">966,324</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Corporate securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">4,311,095</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">162,455</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(19,196</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">4,454,354</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Asset-backed securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">181,005</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">3,273</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(214</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">184,064</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Mortgage-backed securities</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Commercial</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">234,356</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">16,000</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(1,022</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">249,334</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,209,374</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">35,761</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(30,791</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,214,344</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Non-agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">4,302</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">287</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(184</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">4,405</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Foreign government securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,700,019</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">72,058</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(23,806</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,748,271</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Foreign corporate securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">2,980,190</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">91,586</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(35,975</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">3,035,801</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total fixed maturity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">12,708,891</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">427,746</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(117,461</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">13,019,176</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">156,000</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,828</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(7,006</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">153,822</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td style="padding-bottom: 2px;" valign="bottom" width="66%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="30%" colspan="14"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At December 31, 2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="66%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Amortized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Cost</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Appreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturity securities</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">U.S. Treasury securities and obligations of</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">U.S. government agencies and corporations</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">160,013</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">2,690</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(1,678</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">161,025</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Obligations of U.S. states and political subdivisions</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">970,735</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">40,815</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(9,022</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,002,528</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Corporate securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">3,950,887</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">155,619</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(27,090</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">4,079,416</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Asset-backed securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">169,980</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">3,485</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(422</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">173,043</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Mortgage-backed securities</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Commercial</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">254,765</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">16,683</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(1,007</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">270,441</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,294,719</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">34,509</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(50,175</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,279,053</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Non-agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">4,816</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">229</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(226</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">4,819</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Foreign government securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,740,337</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">69,779</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(29,347</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,780,769</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Foreign corporate securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">2,844,912</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">86,529</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(45,628</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">2,885,813</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total fixed maturity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">12,391,164</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">410,338</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(164,595</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">12,636,907</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">148,342</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,336</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(8,597</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">144,081</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> </div>

897834000

928562000

611382000

385404000

537050000

524136000

611382000

385404000

-12914000

-225978000

30014000

0.48

0.75

0.01

200000000

51417962

49965812

67965000

47543132

68171000

46057039

680000

682000

<div> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">18.  RETIREMENT BENEFITS</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The Company maintains both qualified and non-qualified defined benefit pension plans and a retiree health plan for its U.S. employees employed prior to April 1, 2010.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Net periodic benefit cost for U.S. employees included the following components for the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Pension Benefits</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="18%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="78%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="18%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="78%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="8%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="8%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Service cost</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">2,460</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">2,729</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Interest cost</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">2,542</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">2,074</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Expected return on plan assets</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">(2,823</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">(2,122</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Amortization of prior service cost</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">13</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">13</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Amortization of net (income) loss</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">1,091</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">1,904</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net periodic benefit cost</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">3,283</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">4,598</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Other Benefits</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="18%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="78%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="18%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="78%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="8%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="8%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Service cost</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">407</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">499</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Interest cost</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">342</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">277</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Amortization of net (income) loss</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">82</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">154</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net periodic benefit cost</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">831</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">930</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The Company did not make any contributions to the qualified pension benefit plan for the three months ended March 31, 2014 and 2013.</div> </div> </div>

313730000

347412000

<div> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">10.  OTHER COMPREHENSIVE INCOME (LOSS)</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The following table presents the components of comprehensive income (loss) in the consolidated statements of operations for the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="22%" colspan="10"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended March 31, 2014</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="22%" colspan="10"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended March 31, 2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Before Tax</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Tax Effect</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Net of Tax</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Before Tax</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Tax Effect</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Net of Tax</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Unrealized appreciation (depreciation) ("URA(D)") on securities - temporary</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">64,113</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(10,718</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">53,395</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(45,045</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(1,563</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(46,608</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">URA(D) on securities - OTTI</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">76</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">76</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(228</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">34</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(194</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Reclassification of net realized losses (gains) included in net income (loss)</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,436</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(562</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,874</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(4,919</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">828</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(4,091</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Foreign currency translation adjustments</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(6,856</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">4,219</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(2,637</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(25,156</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">4,090</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(21,066</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Reclassification of benefit plan liability amortization included in net income (loss)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">1,186</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(415</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">771</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">2,070</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(724</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">1,346</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total other comprehensive income (loss)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">60,955</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(7,476</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">53,479</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(73,278</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">2,665</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(70,613</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The following table presents details of the amounts reclassified from accumulated other comprehensive income ("AOCI") for the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="37%"> </td> <td valign="bottom" width="2%"> </td> <td valign="bottom" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three months ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three months ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="2%"> </td> <td valign="bottom" width="39%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Affected line item within the statements of</div></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="bottom" width="37%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">AOCI component</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="2%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31, 2014</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31, 2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="2%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="39%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">operations and comprehensive income (loss)</div></td></tr> <tr><td valign="bottom" width="37%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td valign="bottom" width="2%"> </td> <td valign="bottom" width="8%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="8%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="2%"> </td> <td valign="bottom" width="39%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="37%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">URA(D) on securities</div></td> <td valign="bottom" width="2%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">2,436</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">(4,919</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="2%" align="left"> </td> <td valign="bottom" width="39%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Other net realized capital gains (losses)</div></td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="37%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="2%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">(562</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">828</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="2%" align="left"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="39%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Income tax expense (benefit)</div></td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="37%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="2%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">1,874</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">(4,091</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="2%" align="left"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="39%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net income (loss)</div></td></tr> <tr bgcolor="white"><td valign="bottom" width="37%"> </td> <td valign="bottom" width="2%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="2%"> </td> <td valign="bottom" width="39%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="37%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Benefit plan net gain (loss)</div></td> <td valign="bottom" width="2%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">1,186</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">2,070</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="2%" align="left"> </td> <td valign="bottom" width="39%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Other underwriting expenses</div></td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="37%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="2%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">(415</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">(724</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="2%" align="left"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="39%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Income tax expense (benefit)</div></td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="37%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="2%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">771</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">1,346</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="2%" align="left"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="39%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net income (loss)</div></td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The following table presents the components of accumulated other comprehensive income (loss), net of tax, in the consolidated balance sheets for the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="78%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At December 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="8%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="8%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Beginning balance of URA (D) on securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">201,154</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">603,928</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Current period change in URA (D) of investments - temporary</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">55,269</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">(401,335</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Current period change in URA (D) of investments - non-credit OTTI</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">76</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">(1,439</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Ending balance of URA (D) on securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">256,499</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">201,154</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="78%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Beginning balance of foreign currency translation adjustments</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">(4,530</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">(4,368</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Current period change in foreign currency translation adjustments</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">(2,637</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">(162</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Ending balance of foreign currency translation adjustments</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">(7,167</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">(4,530</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="78%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Beginning balance of benefit plan net gain (loss)</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">(38,896</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">(62,511</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Current period change in benefit plan net gain (loss)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">771</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">23,615</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Ending balance of benefit plan net gain (loss)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">(38,125</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">(38,896</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="78%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Ending balance of accumulated other comprehensive income (loss)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">211,207</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">157,728</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="78%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Some amounts may not reconcile due to rounding.)</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div></div> </div>

<div> <div class="MetaData" style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Presentation of Comprehensive Income. In June 2011, FASB issued amendments to existing guidance to provide two alternatives for the presentation of comprehensive income. Components of net income and comprehensive income can either be presented within a single, continuous financial statement or be presented in two separate but consecutive financial statements.  The Company has chosen to present the components of net income and comprehensive income in a single, continuous financial statement.  The guidance is effective for reporting periods beginning after December 15, 2011.  The Company implemented this guidance as of January 1, 2012.  In February, 2013, the FASB issued an additional amendment for the presentation of amounts reclassified out of accumulated other comprehensive income by component.  The Company implemented the proposed guidance as of January 1, 2013.</div> </div>

0.0040

0.0050

0.02385

0.005

0.01

0.010

249958000

238361000

249971000

238361000

2007-11-15

161441000

% per annum of the principal amount of issued extended tenor letters of credit (expiry maximum of up to 60 months).

% per annum above the Federal Funds Rate

Federal Funds Rate plus 0.5% per annum

% above the one month London Interbank Offered Rate ("LIBOR")

one month LIBOR Rate plus 1.0% per annum

periodic fixed rate equal to the Eurodollar Rate plus an applicable margin

adjusted London Interbank Offered Rate ("LIBOR") plus a margin

% per annum of the principal amount of issued standard letters of credit (expiry of 15 months or less)

rate of interest publicly announced by Citibank as its base rate

prime commercial lending rate established by Wells Fargo Bank

329897000

250000000

400000000

259130000

233292000

256500000

249411000

0.062

0.054

0.066

0.054

0.066

2004-10-12

2007-04-26

2014-10-15

2067-05-01

2014-10-15

2067-05-01

2037-05-15

May 14, 2017

May 3, 2007

1129000

174000

735000

11280000

363721000

375393000

154000

1904000

82000

1091000

13000

2122000

2823000

277000

2074000

342000

2542000

499000

2729000

407000

2460000

15285000

-1661000

35423000

37083000

195758000

147987000

252681000

297560000

434791000

183415000

206783000

230650000

321242000

36476000

495641000

24231000

34742000

7.56

6.26

7.50

6.21

<div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify"> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">8.   EARNINGS PER COMMON SHARE</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Basic earnings per share are calculated by dividing net income by the weighted average number of common shares outstanding.  Diluted earnings per share reflect the potential dilution that would occur if options granted under various share-based compensation plans were exercised resulting in the issuance of common shares that would participate in the earnings of the entity.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Net income (loss) attributable to Everest Re Group per common share has been computed as per below, based upon weighted average common basic and dilutive shares outstanding.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="80%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="81%" colspan="2" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands, except per share amounts)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="81%" colspan="2" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net income (loss) attributable to Everest Re Group per share:</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Numerator</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Net income (loss) attributable to Everest Re Group</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">293,933</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">384,343</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Less:  dividends declared-common shares and nonvested common shares</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(34,742</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(24,231</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Undistributed earnings</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">259,191</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">360,112</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Percentage allocated to common shareholders (1)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">99.0</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">%</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">99.2</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">%</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">256,717</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">357,222</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Add:  dividends declared-common shareholders</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">34,391</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">24,019</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Numerator for basic and diluted earnings per common share</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">291,108</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">381,241</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Denominator</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Denominator for basic earnings per weighted-average common shares</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">46,479</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">50,423</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Effect of dilutive securities:</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Options</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">434</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">399</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Denominator for diluted earnings per adjusted weighted-average common shares</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">46,913</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">50,822</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Per common share net income (loss)</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Basic</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">6.26</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">7.56</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Diluted</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">6.21</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">7.50</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="text-align: left;" valign="bottom" width="1%"> <div style="text-align: left; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">(1)</div></td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Basic weighted-average common shares outstanding</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">46,479</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">50,423</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Basic weighted-average common shares outstanding and nonvested common shares expected to vest</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">46,927</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">50,831</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Percentage allocated to common shareholders</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">99.0</td> <td style="text-align: left;" valign="bottom" width="1%">%</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">99.2</td> <td style="text-align: left;" valign="bottom" width="1%">%</td></tr> <tr bgcolor="white"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="81%" colspan="2" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Some amounts may not reconcile due to rounding.)</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The table below presents the options to purchase common shares that were outstanding, but were not included in the computation of earnings per diluted share as they were anti-dilutive, for the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="67%"> </td> <td valign="middle" width="15%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td></tr> <tr><td valign="bottom" width="67%"> </td> <td style="border-bottom: black 2px solid;" valign="middle" width="15%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td></tr> <tr><td valign="bottom" width="67%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="middle" width="7%"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="middle" width="7%"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td></tr> <tr bgcolor="#cceeff"><td valign="middle" width="67%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Anti-dilutive options</div></td> <td style="text-align: right;" valign="middle" width="7%"> <div style="text-align: right; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;"> -</div></td> <td valign="bottom" width="1%"> </td> <td valign="middle" width="7%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right"> 454</div></td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">All outstanding options expire on or between September 21, 2014 and September 19, 2022.</div></div></div> </div>

11460000

3264000

50016000

17077000

508447000

485771000

<div> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td style="padding-bottom: 2px;" valign="bottom" width="58%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="25%" colspan="10"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Fair Value Measurement Using:</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Quoted Prices</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">in Active</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Significant</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Markets for</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Other</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Significant</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Identical</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Observable</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unobservable</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Assets</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Inputs</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Inputs</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="9%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31, 2014</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">(Level 1)</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">(Level 2)</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">(Level 3)</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Assets:</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturities, market value</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">U.S. Treasury securities and obligations of</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">U.S. government agencies and corporations</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="8%">162,279</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">162,279</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Obligations of U.S. States and political subdivisions</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">966,324</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">966,324</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Corporate securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">4,454,354</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">4,454,354</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Asset-backed securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">184,064</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">180,392</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">3,672</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Mortgage-backed securities</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">Commercial</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">249,334</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">249,334</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">Agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">2,214,344</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">2,214,344</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">Non-agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">4,405</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">4,141</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">264</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Foreign government securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">1,748,271</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">1,748,271</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Foreign corporate securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="8%">3,035,801</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">3,035,328</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">473</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total fixed maturities, market value</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">13,019,176</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">13,014,767</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">4,409</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturities, fair value</div></td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity securities, market value</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">153,822</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">136,145</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">17,677</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity securities, fair value</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">1,398,430</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">1,282,347</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">116,083</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Liabilities:</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity index put option contracts</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="8%">37,083</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">37,083</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;">  </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td style="padding-bottom: 2px;" valign="bottom" width="58%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="25%" colspan="10"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Fair Value Measurement Using:</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Quoted Prices</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">in Active</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Significant</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Markets for</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Other</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Significant</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Identical</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Observable</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unobservable</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Assets</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Inputs</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Inputs</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="9%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">December 31, 2013</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">(Level 1)</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">(Level 2)</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">(Level 3)</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Assets:</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturities, market value</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">U.S. Treasury securities and obligations of</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">U.S. government agencies and corporations</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="8%">161,025</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">161,025</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Obligations of U.S. States and political subdivisions</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">1,002,528</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">1,002,528</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Corporate securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">4,079,416</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">4,079,416</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Asset-backed securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">173,043</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">167,744</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">5,299</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Mortgage-backed securities</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">Commercial</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">270,441</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">270,441</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">Agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">2,279,053</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">2,279,053</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">Non-agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">4,819</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">4,472</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">347</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Foreign government securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">1,780,769</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">1,780,769</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Foreign corporate securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="8%">2,885,813</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">2,885,332</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">481</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total fixed maturities, market value</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">12,636,907</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">12,630,780</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">6,127</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturities, fair value</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">19,388</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">19,388</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity securities, market value</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">144,081</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">127,030</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">17,051</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity securities, fair value</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">1,462,079</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">1,342,278</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">119,801</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Liabilities:</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity index put option contracts</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="8%">35,423</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">35,423</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div></div> </div>

<div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify"> 5.   FAIR VALUE</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The Company's fixed maturity and equity securities are primarily managed by third party investment asset managers.  The investment asset managers obtain prices from nationally recognized pricing services.   These services seek to utilize market data and observations in their evaluation process.  They use pricing applications that vary by asset class and incorporate available market information and when fixed maturity securities do not trade on a daily basis the services will apply available information through processes such as benchmark curves, benchmarking of like securities, sector groupings and matrix pricing.  In addition, they use model processes, such as the Option Adjusted Spread model to develop prepayment and interest rate scenarios for securities that have prepayment features.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">In limited instances where prices are not provided by pricing services or in rare instances when a manager may not agree with the pricing service, price quotes on a non-binding basis are obtained from investment brokers.  The investment asset managers do not make any changes to prices received from either the pricing services or the investment brokers.  In addition, the investment asset managers have procedures in place to review the reasonableness of the prices from the service providers and may request verification of the prices.  In addition, the Company continually performs analytical reviews of price changes and tests the prices on a random basis to an independent pricing source.  No material variances were noted during these price validation procedures.  In limited situations, where financial markets are inactive or illiquid, the Company may use its own assumptions about future cash flows and risk-adjusted discount rates to determine fair value.  The Company made no such adjustments at March 31, 2014 and December 31, 2013.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The Company internally manages a small public equity portfolio which had a fair value at March 31, 2014 and December 31, 2013 of $184,175 thousand and $174,628 thousand, respectively, and all prices were obtained from publically published sources.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Equity securities in U.S. denominated currency are categorized as Level 1, Quoted Prices in Active Markets for Identical Assets, since the securities are actively traded on an exchange and prices are based on quoted prices from the exchange.  Equity securities traded on foreign exchanges are categorized as Level 2 due to potential foreign exchange adjustments to fair or market value.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Fixed maturity securities are generally categorized as Level 2, Significant Other Observable Inputs, since a particular security may not have traded but the pricing services are able to use valuation models with observable market inputs such as interest rate yield curves and prices for similar fixed maturity securities in terms of issuer, maturity and seniority.  Valuations that are derived from techniques in which one or more of the significant inputs are unobservable (including assumptions about risk) are categorized as Level 3, Significant Unobservable Inputs.  These securities include broker priced securities and the Company's equity index put option contracts.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">As of March 31, 2014 and December 31, 2013, all Level 3 fixed maturity securities, were priced using single non-binding broker quotes since prices for these securities were not provided by normal pricing service companies.  The single broker quotes are provided by market makers or broker-dealers who are recognized as market participants in the markets in which they are providing the quotes.  The prices received from brokers are reviewed for reasonableness by the third party asset managers and the Company.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The Company sold seven equity index put option contracts which meet the definition of a derivative.  The Company's position in these contracts is unhedged.  The Company records the change in fair value of equity index put option contracts in its consolidated statements of operations and comprehensive income (loss).</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The fair value was calculated using an industry accepted option pricing model, Black-Scholes, which used the following assumptions:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="middle" width="75%"> </td> <td style="border-bottom: black 2px solid;" valign="middle" width="16%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At March 31, 2014</div></td></tr> <tr><td valign="middle" width="75%"> </td> <td valign="middle" width="8%" colspan="2"> </td> <td valign="middle" width="7%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Contract</div></td></tr> <tr><td valign="middle" width="75%"> </td> <td valign="middle" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Contracts</div></td> <td valign="middle" width="7%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">based on</div></td></tr> <tr><td valign="middle" width="75%"> </td> <td valign="middle" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">based on</div></td> <td valign="middle" width="7%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">FTSE 100</div></td></tr> <tr><td valign="middle" width="75%"> </td> <td style="border-bottom: black 2px solid;" valign="middle" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">S & P 500 Index</div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="7%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Index</div></td></tr> <tr bgcolor="#cceeff"><td valign="middle" width="75%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity index</div></td> <td valign="middle" width="8%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right"> 1,872.3</div></td> <td valign="middle" width="1%"> </td> <td valign="middle" width="7%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right"> 6,598.4</div></td></tr> <tr bgcolor="white"><td valign="middle" width="75%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Interest rate</div></td> <td valign="middle" width="8%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">1.28% to 3.64%</div></td> <td valign="middle" width="1%"> </td> <td valign="middle" width="7%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">2.52%</div></td></tr> <tr bgcolor="#cceeff"><td valign="middle" width="75%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Time to maturity</div></td> <td valign="middle" width="8%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">3.1 to 17.0 yrs</div></td> <td valign="middle" width="1%"> </td> <td valign="middle" width="7%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">6.3 yrs</div></td></tr> <tr bgcolor="white"><td valign="middle" width="75%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Volatility</div></td> <td valign="middle" width="8%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">20.8% to 25.0%</div></td> <td valign="middle" width="1%"> </td> <td valign="middle" width="7%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">23.2%</div></td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The following table presents the fair value measurement levels for all assets and liabilities, which the Company has recorded at fair value (fair and market value) as of the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="58%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="25%" colspan="10"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Fair Value Measurement Using:</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Quoted Prices</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">in Active</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Significant</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Markets for</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Other</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Significant</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Identical</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Observable</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unobservable</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Assets</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Inputs</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Inputs</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="9%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31, 2014</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">(Level 1)</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">(Level 2)</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">(Level 3)</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Assets:</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturities, market value</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">U.S. Treasury securities and obligations of</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">U.S. government agencies and corporations</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="8%">162,279</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">162,279</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Obligations of U.S. States and political subdivisions</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">966,324</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">966,324</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Corporate securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">4,454,354</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">4,454,354</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Asset-backed securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">184,064</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">180,392</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">3,672</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Mortgage-backed securities</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">Commercial</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">249,334</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">249,334</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">Agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">2,214,344</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">2,214,344</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">Non-agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">4,405</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">4,141</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">264</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Foreign government securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">1,748,271</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">1,748,271</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Foreign corporate securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="8%">3,035,801</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">3,035,328</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">473</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total fixed maturities, market value</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">13,019,176</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">13,014,767</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">4,409</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturities, fair value</div></td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity securities, market value</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">153,822</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">136,145</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">17,677</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity securities, fair value</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">1,398,430</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">1,282,347</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">116,083</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Liabilities:</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity index put option contracts</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="8%">37,083</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">37,083</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">There were no transfers between Level 1 and Level 2 for the three months ended March 31, 2014.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The following table presents the fair value measurement levels for all assets and liabilities, which the Company has recorded at fair value (fair and market value) as of the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="58%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="25%" colspan="10"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Fair Value Measurement Using:</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Quoted Prices</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">in Active</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Significant</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Markets for</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Other</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Significant</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Identical</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Observable</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unobservable</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Assets</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Inputs</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Inputs</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="9%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">December 31, 2013</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">(Level 1)</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">(Level 2)</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">(Level 3)</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Assets:</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturities, market value</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">U.S. Treasury securities and obligations of</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">U.S. government agencies and corporations</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="8%">161,025</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">161,025</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Obligations of U.S. States and political subdivisions</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">1,002,528</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">1,002,528</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Corporate securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">4,079,416</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">4,079,416</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Asset-backed securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">173,043</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">167,744</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">5,299</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Mortgage-backed securities</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">Commercial</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">270,441</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">270,441</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">Agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">2,279,053</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">2,279,053</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">Non-agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">4,819</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">4,472</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">347</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Foreign government securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">1,780,769</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">1,780,769</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Foreign corporate securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="8%">2,885,813</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">2,885,332</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">481</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total fixed maturities, market value</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">12,636,907</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">12,630,780</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">6,127</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturities, fair value</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">19,388</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">19,388</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity securities, market value</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">144,081</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">127,030</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">17,051</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity securities, fair value</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%">1,462,079</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">1,342,278</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">119,801</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Liabilities:</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="8%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity index put option contracts</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="8%">35,423</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">35,423</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The following tables present the activity under Level 3, fair value measurements using significant unobservable inputs by asset type, for the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="33%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="28%" colspan="15"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended March 31, 2014</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="35%" colspan="19"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended March 31, 2013</div></td></tr> <tr><td valign="bottom" width="33%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Asset-backed</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Foreign</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Non-agency</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="3"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Asset-backed</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Foreign</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Non-agency</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Agency</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="3"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="33%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Corporate</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">RMBS</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Total</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Corporate</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">RMBS</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">RMBS</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Total</div></td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="33%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Beginning balance</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">5,299</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="4%">481</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="4%">347</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="4%">6,127</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">4,849</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="4%">11,913</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="4%">426</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="4%">34,842</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="4%">52,030</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="33%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 5pt;" align="left">Total gains or (losses) (realized/unrealized)</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="33%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 10pt;" align="left">Included in earnings</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">18</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">1</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">138</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">157</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(99</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">57</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">(42</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="33%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 10pt;" align="left">Included in other comprehensive income (loss)</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">33</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">(21</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">12</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(190</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">(123</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">7</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">(306</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="33%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 5pt;" align="left">Purchases, issuances and settlements</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(742</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">(9</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">(200</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">(951</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">126</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">743</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">(83</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">786</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="33%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 5pt;" align="left">Transfers in and/or (out) of Level 3</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(936</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">(936</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">(10,254</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">(34,842</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">(45,096</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="33%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Ending balance</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">3,672</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">473</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">264</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">4,409</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,686</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">2,279</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">407</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">7,372</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="33%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="33%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">The amount of total gains or losses for the period included</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="33%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 5pt;" align="left">in earnings (or changes in net assets) attributable to the</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="33%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 10pt;" align="left">change in unrealized gains or losses relating to assets</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="33%" align="left"> <div style="margin-left: 21pt; display: block; margin-right: 0pt; text-indent: 15pt;" align="left">still held at the reporting date</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="33%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="33%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Some amounts may not reconcile due to rounding.)</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The transfers from level 3, fair value measurements using significant unobservable inputs, of $936 thousand and $45,096 thousand of investments for the three months ended March 31, 2014 and March 31, 2013, respectively, primarily relate to securities that were priced using single non-binding broker quotes as of December 31, 2013 and December 31, 2012, respectively.  The securities were subsequently priced using a recognized pricing service as of March 31, 2014 and March 31, 2013, respectively, and were classified as level 2 as of those dates.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The following table presents the activity under Level 3, fair value measurements using significant unobservable inputs for equity index put option contracts, for the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Liabilities:</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Balance, beginning of period</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">35,423</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">79,467</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 8pt;" align="left">Total (gains) or losses (realized/unrealized)</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 15pt;" align="left">Included in earnings</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">1,661</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(15,285</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 15pt;" align="left">Included in other comprehensive income (loss)</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 8pt;" align="left">Purchases, issuances and settlements</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 8pt;" align="left">Transfers in and/or (out) of Level 3</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Balance, end of period</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">37,083</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">64,181</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">The amount of total gains or losses for the period included in earnings</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 8pt;" align="left">(or changes in net assets) attributable to the change in unrealized</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 15pt;" align="left">gains or losses relating to liabilities still held at the reporting date</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Some amounts may not reconcile due to rounding.)</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> </div>

-42000

-99000

57000

157000

18000

1000

138000

-306000

-190000

-123000

7000

12000

33000

-21000

786000

126000

743000

-83000

-951000

-742000

-9000

-200000

-45096000

-10254000

-34842000

-936000

52030000

4849000

11913000

426000

34842000

7372000

4686000

2279000

407000

6127000

5299000

481000

347000

4409000

3672000

473000

264000

-15285000

1661000

79467000

64181000

35423000

37083000

<div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="middle" width="75%"> </td> <td style="border-bottom: black 2px solid;" valign="middle" width="16%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At March 31, 2014</div></td></tr> <tr><td valign="middle" width="75%"> </td> <td valign="middle" width="8%" colspan="2"> </td> <td valign="middle" width="7%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Contract</div></td></tr> <tr><td valign="middle" width="75%"> </td> <td valign="middle" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Contracts</div></td> <td valign="middle" width="7%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">based on</div></td></tr> <tr><td valign="middle" width="75%"> </td> <td valign="middle" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">based on</div></td> <td valign="middle" width="7%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">FTSE 100</div></td></tr> <tr><td valign="middle" width="75%"> </td> <td style="border-bottom: black 2px solid;" valign="middle" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">S & P 500 Index</div></td> <td style="border-bottom: black 2px solid;" valign="middle" width="7%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Index</div></td></tr> <tr bgcolor="#cceeff"><td valign="middle" width="75%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity index</div></td> <td valign="middle" width="8%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right"> 1,872.3</div></td> <td valign="middle" width="1%"> </td> <td valign="middle" width="7%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right"> 6,598.4</div></td></tr> <tr bgcolor="white"><td valign="middle" width="75%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Interest rate</div></td> <td valign="middle" width="8%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">1.28% to 3.64%</div></td> <td valign="middle" width="1%"> </td> <td valign="middle" width="7%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">2.52%</div></td></tr> <tr bgcolor="#cceeff"><td valign="middle" width="75%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Time to maturity</div></td> <td valign="middle" width="8%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">3.1 to 17.0 yrs</div></td> <td valign="middle" width="1%"> </td> <td valign="middle" width="7%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">6.3 yrs</div></td></tr> <tr bgcolor="white"><td valign="middle" width="75%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Volatility</div></td> <td valign="middle" width="8%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">20.8% to 25.0%</div></td> <td valign="middle" width="1%"> </td> <td valign="middle" width="7%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">23.2%</div></td></tr></table> </div>

228000000

224961000

2692000

2706000

126926000

-4919000

21126000

2436000

5717000

4945000

40762000

8927000

3844000

5330000

11279000

273000

416000

38964000

10966000

56334000

9735000

7167000

5320000

12169000

230000

86000

54566000

21857000

164595000

28275000

39013000

8833000

36644000

422000

51408000

117461000

13253000

25634000

10632000

35731000

214000

31997000

4277135000

391044000

859033000

189789000

1330459000

6622000

1500188000

4170087000

214077000

864793000

229429000

1619964000

22777000

1219047000

123833000

19348000

35169000

3503000

25365000

6000

112658000

40442000

61127000

3518000

18467000

5312000

23562000

128000

55242000

10140000

3637310000

329415000

810969000

143098000

1125680000

5494000

1222654000

2967975000

91660000

740585000

182786000

1331340000

22658000

598946000

639825000

61629000

48064000

46691000

204779000

1128000

277534000

1202112000

122417000

124208000

46643000

288624000

119000

620101000

469839000

355254000

17356000

-2313000

19188000

16260000

85496000

-724000

828000

53232000

-415000

-562000

178334000

136513000

-4584000

-3399000

-796000

-1423000

-64227000

-34417000

127942000

56348000

43814000

23959000

53067000

-25533000

-3446000

-2359000

4188000

1176000

92736000

114898000

54323000

80016000

13481000

7568000

5113000

3937000

6001000

174000

4781000

12092000

<div> <div class="MetaData" style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Treatment of Insurance Contract Acquisition Costs. In October 2010, the FASB issued authoritative guidance for the accounting for costs associated with acquiring or renewing insurance contracts.  The guidance identifies the incremental direct costs of contract acquisition and costs directly related to acquisition activities that should be capitalized.  This guidance is effective for reporting periods beginning after December 15, 2011.  The Company implemented this guidance as of January 1, 2012 and determined that $13,492 thousand of previously deferrable acquisition costs would be expensed, including $10,876 thousand and $2,616 thousand expensed in the years ended December 31, 2012 and 2013, respectively.  No additional expense will be incurred related to this guidance implementation in future periods.</div> </div>

154504000

130519000

8723000

7362000

145781000

123157000

3169000

3245000

16596483000

16806455000

<div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="66%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At March 31, 2014</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At December 31, 2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="66%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Amortized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Amortized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="66%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Cost</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Cost</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="66%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify">Fixed maturity securities – available for sale:</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">    Due in one year or less</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">1,305,956</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">1,316,967</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">1,059,052</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">1,067,799</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">    Due after one year through five years</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">5,567,088</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">5,728,265</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">5,565,112</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">5,740,662</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">    Due after five years through ten years</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,237,873</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,278,200</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,081,908</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,101,234</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">    Due after ten years</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">968,937</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,043,597</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">960,812</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">999,856</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Asset-backed securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">181,005</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">184,064</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">169,980</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">173,043</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Mortgage-backed securities:</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Commercial</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">234,356</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">249,334</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">254,765</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">270,441</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,209,374</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,214,344</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,294,719</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,279,053</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Non-agency residential</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,302</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,405</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,816</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,819</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="66%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify">Total fixed maturity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">12,708,891</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">13,019,176</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">12,391,164</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">12,636,907</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr></table> </div>

<div> <div style="display: block; text-indent: 0pt;"> <div> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify"> <div> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify"> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;" align="justify"> <div> <div> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">3.   INVESTMENTS</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The amortized cost, market value and gross unrealized appreciation and depreciation of available for sale, fixed maturity and equity security investments, carried at market value, are as follows for the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="66%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="30%" colspan="14"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At March 31, 2014</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="66%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Amortized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Cost</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Appreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturity securities</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">U.S. Treasury securities and obligations of</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">U.S. government agencies and corporations</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">161,235</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">2,755</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(1,711</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">162,279</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Obligations of U.S. states and political subdivisions</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">927,315</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">43,571</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(4,562</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">966,324</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Corporate securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">4,311,095</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">162,455</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(19,196</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">4,454,354</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Asset-backed securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">181,005</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">3,273</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(214</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">184,064</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Mortgage-backed securities</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Commercial</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">234,356</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">16,000</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(1,022</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">249,334</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,209,374</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">35,761</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(30,791</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,214,344</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Non-agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">4,302</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">287</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(184</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">4,405</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Foreign government securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,700,019</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">72,058</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(23,806</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,748,271</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Foreign corporate securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">2,980,190</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">91,586</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(35,975</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">3,035,801</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total fixed maturity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">12,708,891</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">427,746</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(117,461</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">13,019,176</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">156,000</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,828</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(7,006</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">153,822</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="66%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="30%" colspan="14"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At December 31, 2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="66%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Amortized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Cost</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Appreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturity securities</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">U.S. Treasury securities and obligations of</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">U.S. government agencies and corporations</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">160,013</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">2,690</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(1,678</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">161,025</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Obligations of U.S. states and political subdivisions</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">970,735</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">40,815</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(9,022</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,002,528</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Corporate securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">3,950,887</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">155,619</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(27,090</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">4,079,416</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Asset-backed securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">169,980</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">3,485</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(422</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">173,043</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Mortgage-backed securities</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Commercial</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">254,765</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">16,683</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(1,007</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">270,441</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,294,719</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">34,509</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(50,175</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,279,053</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Non-agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">4,816</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">229</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(226</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">4,819</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Foreign government securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,740,337</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">69,779</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(29,347</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,780,769</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Foreign corporate securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">2,844,912</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">86,529</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(45,628</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">2,885,813</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total fixed maturity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">12,391,164</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">410,338</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(164,595</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">12,636,907</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">148,342</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,336</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(8,597</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">144,081</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The $1,748,271 thousand of foreign government securities at March 31, 2014 included $796,804 thousand of European sovereign securities.  Approximately 52.5%, 21.9%, 6.7% and 5.6% of European sovereign securities represented securities held in the governments of the United Kingdom, France, Austria and the Netherlands, respectively.  No other countries represented more than 5% of the European sovereign securities.  The Company held no sovereign securities of Portugal, Italy, Ireland, Greece or Spain at March 31, 2014.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">In accordance with FASB guidance, the Company reclassified the non-credit portion of other-than-temporary impairments from retained earnings into accumulated other comprehensive income (loss), on April 1, 2009.  The table below presents the pre-tax cumulative unrealized appreciation (depreciation) on those corporate securities, for the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="74%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="11%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At March 31, 2014</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="11%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At December 31, 2013</div></td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="74%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Pre-tax cumulative unrealized appreciation (depreciation)</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="9%">3,245</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="9%">3,169</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The amortized cost and market value of fixed maturity securities are shown in the following table by contractual maturity.  Mortgage-backed securities are generally more likely to be prepaid than other fixed maturity securities. As the stated maturity of such securities may not be indicative of actual maturities, the totals for mortgage-backed and asset-backed securities are shown separately.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="66%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At March 31, 2014</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At December 31, 2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="66%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Amortized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Amortized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="66%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Cost</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Cost</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="66%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify">Fixed maturity securities – available for sale:</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">    Due in one year or less</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">1,305,956</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">1,316,967</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">1,059,052</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">1,067,799</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">    Due after one year through five years</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">5,567,088</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">5,728,265</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">5,565,112</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">5,740,662</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">    Due after five years through ten years</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,237,873</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,278,200</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,081,908</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,101,234</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">    Due after ten years</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">968,937</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,043,597</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">960,812</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">999,856</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Asset-backed securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">181,005</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">184,064</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">169,980</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">173,043</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Mortgage-backed securities:</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Commercial</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">234,356</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">249,334</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">254,765</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">270,441</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,209,374</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,214,344</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,294,719</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,279,053</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="66%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Non-agency residential</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,302</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,405</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,816</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,819</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="66%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify">Total fixed maturity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">12,708,891</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">13,019,176</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">12,391,164</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">12,636,907</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The changes in net unrealized appreciation (depreciation) for the Company's investments are derived from the following sources for the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Increase (decrease) during the period between the market value and cost</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">of investments carried at market value, and deferred taxes thereon:</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Fixed maturity securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">64,466</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">(47,947</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Fixed maturity securities, other-than-temporary impairment</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">76</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(228</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Equity securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">2,083</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(2,017</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Other invested assets</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Change in unrealized appreciation (depreciation), pre-tax</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">66,625</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(50,192</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Deferred tax benefit (expense)</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(11,280</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(735</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Deferred tax benefit (expense), other-than-temporary impairment</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">34</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Change in unrealized appreciation (depreciation),</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">net of deferred taxes, included in shareholders' equity</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">55,345</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(50,893</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The Company frequently reviews all of its fixed maturity, available for sale securities for declines in market value and focuses its attention on securities whose fair value has fallen below 80% of their amortized cost at the time of review.  The Company then assesses whether the decline in value is temporary or other-than-temporary.  In making its assessment, the Company evaluates the current market and interest rate environment as well as specific issuer information.  Generally, a change in a security's value caused by a change in the market, interest rate or foreign exchange environment does not constitute an other-than-temporary impairment, but rather a temporary decline in market value.  Temporary declines in market value are recorded as unrealized losses in accumulated other comprehensive income (loss).  If the Company determines that the decline is other-than-temporary and the Company does not have the intent to sell the security; and it is more likely than not that the Company will not have to sell the security before recovery of its cost basis, the carrying value of the investment is written down to fair value.  The fair value adjustment that is credit or foreign exchange related is recorded in net realized capital gains (losses) in the Company's consolidated statements of operations and comprehensive income (loss).  The fair value adjustment that is</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">non-credit related is recorded as a component of other comprehensive income (loss), net of tax, and is included in accumulated other comprehensive income (loss) in the Company's consolidated balance sheets.  The Company's assessments are based on the issuers current and expected future financial position, timeliness with respect to interest and/or principal payments, speed of repayments and any applicable credit enhancements or breakeven constant default rates on mortgage-backed and asset-backed securities, as well as relevant information provided by rating agencies, investment advisors and analysts.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The majority of the Company's equity securities available for sale at market value are primarily comprised of mutual fund investments whose underlying securities consist of fixed maturity securities.  When a fund's value reflects an unrealized loss, the Company assesses whether the decline in value is temporary or other-than-temporary.  In making its assessment, the Company considers the composition of its portfolios and their related markets, reports received from the portfolio managers and discussions with portfolio managers.  If the Company determines that the declines are temporary and it has the ability and intent to continue to hold the investments, then the declines are recorded as unrealized losses in accumulated other comprehensive income (loss).  If declines are deemed to be other-than-temporary, then the carrying value of the investment is written down to fair value and recorded in net realized capital gains (losses) in the Company's consolidated statements of operations and comprehensive income (loss).</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Retrospective adjustments are employed to recalculate the values of asset-backed securities. All of the Company's asset-backed and mortgage-backed securities have a pass-through structure. Each acquisition lot is reviewed to recalculate the effective yield. The recalculated effective yield is used to derive a book value as if the new yield were applied at the time of acquisition. Outstanding principal factors from the time of acquisition to the adjustment date are used to calculate the prepayment history for all applicable securities. Conditional prepayment rates, computed with life to date factor histories and weighted average maturities, are used in the calculation of projected prepayments for pass-through security types.</div></div> </div></div></div></div></div></div> <div> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify"> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;" align="justify"> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;" align="justify"> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"> <div> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The tables below display the aggregate market value and gross unrealized depreciation of fixed maturity and equity securities, by security type and contractual maturity, in each case subdivided according to length of time that individual securities had been in a continuous unrealized loss position for the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="46%" colspan="22"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Duration of Unrealized Loss at March 31, 2014 By Security Type</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Less than 12 months</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Greater than 12 months</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Total</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturity securities - available for sale</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">U.S. Treasury securities and obligations of</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">U.S. government agencies and corporations</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">54,900</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(988</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">8,689</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(723</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">63,589</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(1,711</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Obligations of U.S. states and political subdivisions</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">35,182</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(1,091</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">68,552</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(3,471</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">103,734</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(4,562</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Corporate securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,055,875</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(14,522</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">106,380</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(4,674</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,162,255</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(19,196</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Asset-backed securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">22,658</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(128</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">119</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(86</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">22,777</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(214</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Mortgage-backed securities</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">Commercial</div></td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">11,287</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(1,022</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">11,287</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(1,022</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">Agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">597,387</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(10,129</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">608,422</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(20,662</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,205,809</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(30,791</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 13pt;" align="left">Non-agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,559</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(11</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">392</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(173</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,951</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(184</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Foreign government securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">371,847</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(12,538</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">159,214</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(11,268</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">531,061</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(23,806</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Foreign corporate securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">828,567</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(21,720</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">239,057</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(14,255</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">1,067,624</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(35,975</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total fixed maturity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">2,967,975</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(61,127</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">1,202,112</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(56,334</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,170,087</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(117,461</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">136,145</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(7,006</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">136,145</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(7,006</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">3,104,120</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(68,133</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">1,202,112</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(56,334</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,306,232</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(124,467</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="46%" colspan="22"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Duration of Unrealized Loss at March 31, 2014 By Maturity</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Less than 12 months</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Greater than 12 months</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Total</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturity securities</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Due in one year or less</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">182,786</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(5,312</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">46,643</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(5,320</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">229,429</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(10,632</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Due in one year through five years</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,331,340</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(23,562</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">288,624</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(12,169</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,619,964</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(35,731</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Due in five years through ten years</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">740,585</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(18,467</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">124,208</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(7,167</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">864,793</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(25,634</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Due after ten years</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">91,660</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(3,518</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">122,417</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(9,735</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">214,077</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(13,253</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Asset-backed securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">22,658</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(128</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">119</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(86</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">22,777</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(214</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Mortgage-backed securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">598,946</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(10,140</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">620,101</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(21,857</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">1,219,047</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(31,997</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total fixed maturity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">2,967,975</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(61,127</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">1,202,112</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(56,334</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,170,087</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(117,461</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The aggregate market value and gross unrealized losses related to investments in an unrealized loss position at March 31, 2014 were $4,306,232 thousand and $124,467 thousand, respectively.  The market value of securities for the single issuer whose securities comprised the largest unrealized loss position at March 31, 2014, did not exceed 0.5% of the overall market value of the Company's fixed maturity securities.  In addition, as indicated on the above table, there was no significant concentration of unrealized losses in any one market sector.  The $61,127 thousand of unrealized losses related to fixed maturity securities that have been in an unrealized loss position for less than one year were generally comprised of foreign and domestic corporate securities, foreign government securities and agency residential mortgage-backed securities.  Of these unrealized losses, $55,242 thousand were related to securities that were rated investment grade by at least one nationally recognized statistical rating organization. The $56,334 thousand of unrealized losses related to fixed maturity securities in an unrealized loss position for more than one year related primarily to agency residential mortgage-backed securities, domestic and foreign corporate securities, foreign government securities and municipal securities.  Of these unrealized losses, $54,566 thousand related to securities that were rated investment grade by at least one nationally recognized statistical rating organization.  The gross unrealized depreciation for mortgage-backed securities included $230 thousand related to sub-prime and alt-A loans.  In all instances, there were no projected cash flow shortfalls to recover the full book value of the investments and the related interest obligations.  The mortgage-backed securities still have excess credit coverage and are current on interest and principal payments.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The Company, given the size of its investment portfolio and capital position, does not have the intent to sell these securities; and it is more likely than not that the Company will not have to sell the security before recovery of its cost basis.  In addition, all securities currently in an unrealized loss position are current with respect to principal and interest payments.</div> </div>  </div> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify"> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The tables below display the aggregate market value and gross unrealized depreciation of fixed maturity and equity securities, by security type and contractual maturity, in each case subdivided according to length of time that individual securities had been in a continuous unrealized loss position for the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="46%" colspan="22"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Duration of Unrealized Loss at December 31, 2013 By Security Type</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Less than 12 months</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Greater than 12 months</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="14%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Total</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturity securities - available for sale</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">U.S. Treasury securities and obligations of</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 12pt;" align="left">U.S. government agencies and corporations</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">74,847</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(1,033</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">8,751</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(645</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">83,598</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(1,678</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Obligations of U.S. states and political subdivisions</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">92,760</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(4,852</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">39,689</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(4,170</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">132,449</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(9,022</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Corporate securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">959,396</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(22,331</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">75,946</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(4,759</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,035,342</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(27,090</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Asset-backed securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">5,494</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(6</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,128</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(416</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">6,622</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(422</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Mortgage-backed securities</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 12pt;" align="left">Commercial</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">51</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">11,353</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(1,007</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">11,404</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(1,007</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 12pt;" align="left">Agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,220,845</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(40,420</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">264,640</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(9,755</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,485,485</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(50,175</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 12pt;" align="left">Non-agency residential</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,758</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(22</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,541</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(204</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">3,299</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(226</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Foreign government securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">409,252</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(20,350</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">85,029</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(8,997</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">494,281</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(29,347</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Foreign corporate securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">872,907</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(34,819</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">151,748</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(10,809</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">1,024,655</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(45,628</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total fixed maturity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">3,637,310</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(123,833</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">639,825</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(40,762</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,277,135</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(164,595</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">127,030</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(8,597</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">127,030</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(8,597</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">3,764,340</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(132,430</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">639,825</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(40,762</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">4,404,165</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(173,192</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom"> </td> <td style="padding-bottom: 2px;" valign="bottom"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" colspan="22"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Duration of Unrealized Loss at December 31, 2013 By Maturity</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom"> </td> <td style="padding-bottom: 2px;" valign="bottom"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Less than 12 months</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom"> </td> <td style="padding-bottom: 2px;" valign="bottom"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Greater than 12 months</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom"> </td> <td style="padding-bottom: 2px;" valign="bottom"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Total</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom"> </td></tr> <tr><td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2"> </td> <td style="text-align: left;" valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2"> </td> <td style="text-align: left;" valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2"> </td> <td style="text-align: left;" valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Gross</div></td> <td style="text-align: left;" valign="bottom"> </td></tr> <tr><td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2"> </td> <td style="text-align: left;" valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2"> </td> <td style="text-align: left;" valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2"> </td> <td style="text-align: left;" valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Unrealized</div></td> <td style="text-align: left;" valign="bottom"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom"> </td> <td style="padding-bottom: 2px;" valign="bottom"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom"> </td> <td style="padding-bottom: 2px;" valign="bottom"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom"> </td> <td style="padding-bottom: 2px;" valign="bottom"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom"> </td> <td style="padding-bottom: 2px;" valign="bottom"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom"> </td> <td style="padding-bottom: 2px;" valign="bottom"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Depreciation</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom"> </td></tr> <tr><td valign="bottom" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturity securities</div></td> <td valign="bottom"> </td> <td valign="bottom" colspan="2"> </td> <td style="text-align: left;" valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2"> </td> <td style="text-align: left;" valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2"> </td> <td style="text-align: left;" valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2"> </td> <td style="text-align: left;" valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2"> </td> <td style="text-align: left;" valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2"> </td> <td style="text-align: left;" valign="bottom"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Due in one year or less</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="4%">143,098</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="4%">(3,503</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="4%">46,691</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="4%">(5,330</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="4%">189,789</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="4%">(8,833</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Due in one year through five years</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">1,125,680</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">(25,365</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">204,779</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">(11,279</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">1,330,459</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">(36,644</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Due in five years through ten years</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">810,969</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">(35,169</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">48,064</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">(3,844</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">859,033</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">(39,013</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 6pt;" align="left">Due after ten years</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">329,415</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">(19,348</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">61,629</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">(8,927</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">391,044</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">(28,275</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Asset-backed securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">5,494</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">(6</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">1,128</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">(416</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">6,622</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="4%">(422</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Mortgage-backed securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">1,222,654</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">(40,442</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">277,534</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">(10,966</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">1,500,188</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">(51,408</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="58%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total fixed maturity securities</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">3,637,310</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">(123,833</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">639,825</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">(40,762</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">4,277,135</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="4%">(164,595</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The aggregate market value and gross unrealized losses related to investments in an unrealized loss position at December 31, 2013 were $4,404,165 thousand and $173,192 thousand, respectively.  The market value of securities for the single issuer whose securities comprised the largest unrealized loss position at December 31, 2013, did not exceed 0.4% of the overall market value of the Company's fixed maturity securities.  In addition, as indicated on the above table, there was no significant concentration of unrealized losses in any one market sector.  The $123,833 thousand of unrealized losses related to fixed maturity securities that have been in an unrealized loss position for less than one year were generally comprised of domestic and foreign corporate securities, foreign government securities and agency residential mortgage-backed securities.  Of these unrealized losses, $112,658 thousand were related to securities that were rated investment grade by at least one nationally recognized statistical rating organization. The $40,762 thousand of unrealized losses related to fixed maturity securities in an unrealized loss position for more than one year related primarily to domestic and foreign corporate securities, foreign government securities, municipal securities and agency residential mortgage-backed securities.  Of these unrealized losses, $38,964 thousand related to securities that were rated investment grade by at least one nationally recognized statistical rating organization.  The gross unrealized depreciation for mortgage-backed securities included $273 thousand related to sub-prime and alt-A loans.  In all instances, there were no projected cash flow shortfalls to recover the full book value of the investments and the related interest obligations.  The mortgage-backed securities still have excess credit coverage and are current on interest and principal payments.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The components of net investment income are presented in the table below for the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">116,253</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">120,757</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">11,459</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">9,741</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Short-term investments and cash</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">330</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">304</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Other invested assets</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Limited partnerships</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(2,258</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">17,483</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Other</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">2,021</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">2,321</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Gross investment income before adjustments</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">127,805</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">150,606</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Funds held interest income (expense)</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">3,017</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">4,429</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Future policy benefit reserve income (expense)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(303</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(531</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Gross investment income</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">130,519</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">154,504</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Investment expenses</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(7,362</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(8,723</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Net investment income</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">123,157</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">145,781</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Some amounts may not reconcile due to rounding.)</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The Company records results from limited partnership investments on the equity method of accounting with changes in value reported through net investment income.  Due to the timing of receiving financial information from these partnerships, the results are generally reported on a one month or quarter lag.  If the Company determines there has been a significant decline in value of a limited partnership during this lag period, a loss will be recorded in the period in which the Company identifies the decline.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The Company had contractual commitments to invest up to an additional $121,387 thousand in limited partnerships at March 31, 2014.  These commitments will be funded when called in accordance with the partnership agreements, which have investment periods that expire, unless extended, through 2018.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The components of net realized capital gains (losses) are presented in the table below for the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturity securities, market value:</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Other-than-temporary impairments</div></td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">(191</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Gains (losses) from sales</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(1,948</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">4,877</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Fixed maturity securities, fair value:</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Gains (losses) from sales</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">940</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(58</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Gains (losses) from fair value adjustments</div></td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">84</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity securities, market value:</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Gains (losses) from sales</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(488</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">233</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Equity securities, fair value:</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Gains (losses) from sales</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(1,415</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">8,019</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Gains (losses) from fair value adjustments</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">24,035</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">113,757</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Short-term investments gain (loss)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">2</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">14</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total net realized capital gains (losses)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">21,126</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">126,735</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The Company recorded as net realized capital gains (losses) in the consolidated statements of operations and comprehensive income (loss) both fair value re-measurements and write-downs in the value of securities deemed to be impaired on an other-than-temporary basis as displayed in the table above.  The Company had no other-than-temporary impaired securities where the impairment had both a credit and non-credit component.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The proceeds and split between gross gains and losses, from sales of fixed maturity and equity securities, are presented in the table below for the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Proceeds from sales of fixed maturity securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">349,472</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">258,160</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Gross gains from sales</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">7,936</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">7,713</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Gross losses from sales</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(8,944</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(2,894</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Proceeds from sales of equity securities</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">179,132</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">107,404</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Gross gains from sales</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">6,620</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">9,102</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Gross losses from sales</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(8,523</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(850</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> </div></div></div></div></div></div></div></div></div></div></div></div></div></div> </div>

12746382000

12759716000

19808036000

20112395000

59512000

58089000

236119000

22800000

1045000

119000

129147000

79336000

3672000

851000

502059000

234064000

107343000

4105000

3672000

39650000

80000

79214000

851000

501853000

2017-12-31

2015-12-31

2014-08-30

2018-03-30

2014-12-31

2014-11-24

2014-12-31

2018-03-30

2015-12-31

2014-11-24

2018-06-30

2015-08-30

2014-12-31

300000000

150000000

800000000

200000000

600000000

1250000000

300000000

150000000

800000000

200000000

600000000

850000000

0.0015

<div> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify"> <div> <div style="display: block; text-indent: 0pt;"> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;">14.  LONG TERM SUBORDINATED NOTES</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The table below displays Holdings' outstanding fixed to floating rate long term subordinated notes.  Market value is based on quoted market prices, but due to limited trading activity, these subordinated notes are considered Level 2 in the fair value hierarchy.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="22%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="6%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="8%" colspan="2"> </td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="15%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Maturity Date</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="19%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31, 2014</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="19%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">December 31, 2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="22%"> </td> <td valign="bottom" width="6%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Original</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Consolidated Balance</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="8%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Consolidated Balance</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="8%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="22%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Date Issued</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Principal Amount</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Scheduled</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Final</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="9%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Sheet Amount</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="9%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Sheet Amount</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="22%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">6.6% Long term subordinated notes</div></td> <td valign="bottom" width="6%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">04/26/2007</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">400,000</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td valign="bottom" width="7%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">05/15/2037</div></td> <td valign="bottom" width="1%" align="right"> </td> <td valign="bottom" width="7%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">05/01/2067</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="8%">238,361</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">249,411</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="8%">238,361</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">233,292</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">During the fixed rate interest period from May 3, 2007 through May 14, 2017, interest will be at the annual rate of 6.6%, payable semi-annually in arrears on November 15 and May 15 of each year, commencing on November 15, 2007, subject to Holdings' right to defer interest on one or more occasions for up to ten consecutive years.  During the floating rate interest period from May 15, 2017 through maturity, interest will be based on the 3 month LIBOR plus 238.5 basis points, reset quarterly, payable quarterly in arrears on February 15, May 15, August 15 and November 15 of each year, subject to Holdings' right to defer interest on one or more occasions for up to ten consecutive years.  Deferred interest will accumulate interest at the applicable rate compounded semi-annually for periods prior to May 15, 2017, and compounded quarterly for periods from and including May 15, 2017.</div></div> </div> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify">Holdings can redeem the long term subordinated notes prior to May 15, 2017, in whole but not in part at the applicable redemption price, which will equal the greater of (a) 100% of the principal amount being redeemed and (b) the present value of the principal payment on May 15, 2017 and scheduled payments of interest that would have accrued from the redemption date to May 15, 2017 on the long term subordinated notes being redeemed, discounted to the redemption date on a semi-annual basis at a discount rate equal to the treasury rate plus an applicable spread of either 0.25% or 0.50%, in each case plus accrued and unpaid interest.  Holdings may redeem the long term subordinated notes on or after May 15, 2017, in whole or in part at 100% of the principal amount plus accrued and unpaid interest; however, redemption on or after the scheduled maturity date and prior to May 1, 2047 is subject to a replacement capital covenant.  This covenant is for the benefit of certain senior note holders and it mandates that Holdings receive proceeds from the sale of another subordinated debt issue, of at least similar size, before it may redeem the subordinated notes.</div> <div style="display: block; text-indent: 0pt;"> </div> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify">On March 19, 2009, Group announced the commencement of a cash tender offer for any and all of the 6.60% fixed to floating rate long term subordinated notes.  Upon expiration of the tender offer, the Company had reduced its outstanding debt by $161,441 thousand.</div> <div style="display: block; text-indent: 0pt;"> </div> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify">Interest expense incurred in connection with these long term subordinated notes is as follows for the periods indicated:</div> <div style="display: block; text-indent: 0pt;"> </div> <div style="display: block; text-indent: 0pt;"> </div> <div> <table style="font-size: 10pt; font-family: times new roman;" cellspacing="0" cellpadding="0" width="100%"> <tr><td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td></tr> <tr><td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom">  </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" colspan="6" nowrap="nowrap"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" nowrap="nowrap"> </td></tr> <tr><td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom">  </td> <td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; border-right-color: ;" valign="bottom" colspan="6" nowrap="nowrap"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: left; border-right-color: ;" valign="bottom" nowrap="nowrap"> </td></tr> <tr><td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" align="right"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: center; border-right-color: ;" valign="bottom" colspan="2" nowrap="nowrap"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: left; border-right-color: ;" valign="bottom" nowrap="nowrap"> </td> <td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" align="right"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: center; border-right-color: ;" valign="bottom" colspan="2" nowrap="nowrap"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: left; border-right-color: ;" valign="bottom" nowrap="nowrap"> </td></tr> <tr bgcolor="#cceeff"><td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="76%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Interest expense incurred</div></td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%" align="right"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%">$</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: right; border-right-color: ;" valign="bottom" width="9%">3,937</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%" nowrap="nowrap"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%" align="right"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%">$</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: right; border-right-color: ;" valign="bottom" width="9%">3,937</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%" nowrap="nowrap"> </td></tr></table></div> <div style="display: block; text-indent: 0pt;"> </div></div></div> </div>

238361000

144734000

30664000

144411000

30123000

14000

4877000

233000

-58000

8019000

2000

-1948000

-488000

940000

-1415000

191000

84000

113757000

24035000

1875000000

4249963000

<div> <div style="display: block; text-indent: 0pt;"> <div> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify"> 1.   GENERAL</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Everest Re Group, Ltd. ("Group"), a Bermuda company, through its subsidiaries, principally provides reinsurance and insurance in the U.S., Bermuda and international markets.  As used in this document, "Company" means Group and its subsidiaries.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Effective February 27, 2013, the Company established a new subsidiary, Mt. Logan Re Ltd. ("Mt. Logan Re") and effective July 1, 2013, Mt. Logan Re established separate segregated accounts and issued non-voting redeemable preferred shares to capitalize the segregated accounts.  Accordingly, the financial position and operating results for Mt. Logan Re are consolidated with the Company and the non-controlling interests in Mt. Logan Re's operating results and equity are presented as separate captions in the Company's financial statements.</div></div></div></div> </div>

-235945000

-211904000

-47787000

-384435000

259358000

367097000

384343000

1346000

-4091000

293933000

771000

1874000

5878000

8089000

357222000

256717000

145781000

123157000

3136782000

6706000

22530000

6567000

30516000

<div> <div style="display: block; text-indent: 0pt;"> <div> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify"> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">2.   BASIS OF PRESENTATION</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The unaudited consolidated financial statements of the Company for the three months ended March 31, 2014 and 2013 include all adjustments, consisting of normal recurring accruals, which, in the opinion of management, are necessary for a fair statement of the results on an interim basis.  Certain financial information, which is normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"), has been omitted since it is not required for interim reporting purposes.  The December 31, 2013 consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP.  The results for the three months ended March 31, 2014 and 2013 are not necessarily indicative of the results for a full year.  These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the years ended December 31, 2013, 2012 and 2011 included in the Company's most recent Form 10-K filing.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">All intercompany accounts and transactions have been eliminated.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Certain reclassifications and format changes have been made to prior years' amounts to conform to the 2014 presentation.  One reclassification relates to a correction in the manner in which the Company reports distributions received from limited partnership investments in the consolidated Statements of Cash Flows.  Prior to the fourth quarter of 2013, the Company incorrectly reflected all distributions as cash flows from investing activities in its Consolidated Statements of Cash Flows.  Starting with the fourth quarter of 2013, cash distributions from the limited partnerships that represent net investment income are reflected as cash flows from operating activities and distributions that represent the return of capital contributions are reflected as cash flows from investing activities.  For the three months ended March 31, 2013, $33,686 thousand has been reclassified from "Distributions from other invested assets" included in cash flows  from investing activities to "Distribution of limited partnership income" included in cash flows from operations.  The Company has determined that this error is not material to the financial statements of any prior period.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Application of Recently Issued Accounting Standard Changes.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div class="MetaData" style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Presentation of Comprehensive Income. In June 2011, FASB issued amendments to existing guidance to provide two alternatives for the presentation of comprehensive income. Components of net income and comprehensive income can either be presented within a single, continuous financial statement or be presented in two separate but consecutive financial statements.  The Company has chosen to present the components of net income and comprehensive income in a single, continuous financial statement.  The guidance is effective for reporting periods beginning after December 15, 2011.  The Company implemented this guidance as of January 1, 2012.  In February, 2013, the FASB issued an additional amendment for the presentation of amounts reclassified out of accumulated other comprehensive income by component.  The Company implemented the proposed guidance as of January 1, 2013.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div class="MetaData" style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Treatment of Insurance Contract Acquisition Costs. In October 2010, the FASB issued authoritative guidance for the accounting for costs associated with acquiring or renewing insurance contracts.  The guidance identifies the incremental direct costs of contract acquisition and costs directly related to acquisition activities that should be capitalized.  This guidance is effective for reporting periods beginning after December 15, 2011.  The Company implemented this guidance as of January 1, 2012 and determined that $13,492 thousand of previously deferrable acquisition costs would be expensed, including $10,876 thousand and $2,616 thousand expensed in the years ended December 31, 2012 and 2013, respectively.  No additional expense will be incurred related to this guidance implementation in future periods.</div></div></div></div></div> </div>

246664000

293578000

-162000

-2637000

-50893000

55345000

-73278000

60955000

-25156000

-6856000

-21066000

-2637000

-4090000

-4219000

-70613000

53479000

-70613000

53479000

-1346000

-23615000

-771000

-4919000

2436000

-4091000

1874000

-828000

562000

724000

415000

57661000

65137000

-2665000

7476000

2070000

1186000

1346000

771000

-45045000

64113000

-46802000

53471000

1563000

10718000

8887000

3296000

333425000

182341000

53867000

95322000

1214199000

1363852000

52946000

7759000

26723000

7930000

10534000

2070000

50638000

8286000

23233000

7837000

1800000

9482000

1186000

-78507000

152715000

238632000

249983000

24231000

34742000

24019000

34391000

1295000

1309000

122617000

92329000

6684000

4961000

930000

4598000

831000

3283000

592644000

91996000

141291000

161199000

198158000

619409000

94508000

142191000

163174000

6081000

213455000

0.01

50000000

1088759000

185333000

198832000

311978000

392616000

1144490000

173686000

203237000

318381000

19545000

429641000

1453114000

1427171000

195823000

225249000

293982000

434639000

182570000

211668000

309037000

26557000

497757000

81779000

78305000

26918000

2121000

70700000

3000000

875000

258160000

107404000

349472000

179132000

3664000

20763000

106175000

178598000

384343000

302022000

0.35

126735000

21126000

93378000

315168000

50000000

<div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;"> </td></tr> <tr><td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" width="76%"> </td> <td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; border-right-color: ;" valign="bottom" width="9%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At March 31,</div></td> <td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%" align="left"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: center; border-right-color: ;" valign="bottom" width="9%" colspan="3"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">At December 31,</div></td></tr> <tr><td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" width="76%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%" align="right"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: center; border-right-color: ;" valign="bottom" width="9%" colspan="3"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; text-align: center; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: center; border-right-color: ;" valign="bottom" width="9%" colspan="3"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td></tr> <tr bgcolor="#cceeff"><td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="76%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Redeemable noncontrolling interests - Mt. Logan Re, beginning of period</div></td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%" align="right"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%">$</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: right; border-right-color: ;" valign="bottom" width="8%">93,378</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%" align="left"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%">$</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: right; border-right-color: ;" valign="bottom" width="8%">-</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="76%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Unaffiliated third party investments during period</div></td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%" align="right"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: right; border-right-color: ;" valign="bottom" width="8%">213,700</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%" align="right"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: right; border-right-color: ;" valign="bottom" width="8%">87,500</td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" width="76%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net income (loss) attributable to noncontrolling interests</div></td> <td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%" align="right"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: right; border-right-color: ;" valign="bottom" width="8%">8,089</td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%" align="right"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: right; border-right-color: ;" valign="bottom" width="8%">5,878</td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" width="76%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Redeemable noncontrolling interests - Mt. Logan Re, end of period</div></td> <td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%" align="right"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%">$</td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: right; border-right-color: ;" valign="bottom" width="8%">315,168</td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-left-color: ; padding-bottom: 2px; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%" align="right"> </td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%">$</td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: right; border-right-color: ;" valign="bottom" width="8%">93,378</td> <td style="border-top-color: ; border-bottom: black 2px solid; border-left-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="76%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: right; border-right-color: ;" valign="bottom" width="8%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: right; border-right-color: ;" valign="bottom" width="8%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="76%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Some amounts may not reconcile due to rounding.)</div></td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: right; border-right-color: ;" valign="bottom" width="8%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: right; border-right-color: ;" valign="bottom" width="8%"> </td> <td style="border-top-color: ; border-left-color: ; border-bottom-color: ; text-align: left; border-right-color: ;" valign="bottom" width="1%"> </td></tr></table> </div>

33686000

8600000

116387000

116883000

540883000

653109000

9673240000

9611114000

6765967000

7025158000

1367673000

1283816000

<div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="22%" colspan="10"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended March 31, 2014</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="22%" colspan="10"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended March 31, 2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Before Tax</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Tax Effect</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Net of Tax</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Before Tax</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Tax Effect</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Net of Tax</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Unrealized appreciation (depreciation) ("URA(D)") on securities - temporary</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">64,113</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(10,718</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">53,395</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(45,045</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(1,563</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">(46,608</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">URA(D) on securities - OTTI</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">76</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">76</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(228</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">34</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(194</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Reclassification of net realized losses (gains) included in net income (loss)</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">2,436</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(562</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,874</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(4,919</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">828</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(4,091</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Foreign currency translation adjustments</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(6,856</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">4,219</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(2,637</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(25,156</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">4,090</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">(21,066</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Reclassification of benefit plan liability amortization included in net income (loss)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">1,186</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(415</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">771</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">2,070</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(724</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">1,346</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="50%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total other comprehensive income (loss)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">60,955</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(7,476</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">53,479</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(73,278</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">2,665</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">(70,613</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr></table> </div>

<div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Pension Benefits</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="18%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="78%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="18%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="78%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="8%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="8%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Service cost</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">2,460</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">2,729</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Interest cost</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">2,542</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">2,074</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Expected return on plan assets</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">(2,823</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">(2,122</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Amortization of prior service cost</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">13</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">13</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Amortization of net (income) loss</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">1,091</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">1,904</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net periodic benefit cost</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">3,283</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">4,598</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Other Benefits</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="18%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="78%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="18%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="78%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="8%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="8%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Service cost</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">407</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">499</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Interest cost</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">342</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="7%">277</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Amortization of net (income) loss</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">82</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">154</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="78%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net periodic benefit cost</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">831</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="7%">930</td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td></tr></table> </div>

<div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="28%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="6%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="6%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="15%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31, 2014</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="15%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">December 31, 2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="28%"> </td> <td valign="bottom" width="6%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Consolidated Balance</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Consolidated Balance</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="6%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="28%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Date Issued</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Date Due</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Principal Amounts</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Sheet Amount</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Sheet Amount</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="28%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">5.40% Senior notes</div></td> <td valign="bottom" width="6%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">10/12/2004</div></td> <td valign="bottom" width="1%" align="right"> </td> <td valign="bottom" width="6%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">10/15/2014</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">250,000</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">249,971</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">256,500</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">249,958</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">259,130</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table> </div>

<div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="35%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="28%" colspan="8"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At March 31, 2014</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="28%" colspan="8"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At December 31, 2013</div></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="bottom" width="35%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Bank</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Commitment</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">In Use</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Date of Expiry</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Commitment</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">In Use</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Date of Expiry</div></td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="35%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Citibank Bilateral Letter of Credit Agreement</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">300,000</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">3,672</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">11/24/2014</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">300,000</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">119</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">8/30/2014</div></td></tr> <tr bgcolor="white"><td valign="bottom" width="35%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">79,214</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">12/31/2014</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">3,672</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">11/24/2014</div></td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="35%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">80</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">8/30/2015</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">79,336</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">12/31/2014</div></td></tr> <tr bgcolor="white"><td valign="bottom" width="35%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">4,105</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">12/31/2015</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">1,045</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">12/31/2015</div></td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="35%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">107,343</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">3/30/2018</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">22,800</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">12/31/2017</div></td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="35%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">39,650</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">6/30/2018</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">129,147</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">3/30/2018</div></td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="35%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total Citibank Bilateral Agreement</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">300,000</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">234,064</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">300,000</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">236,119</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%"> </td></tr></table> </div>

<div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="23%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="36%" colspan="9"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At March 31, 2014</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="36%" colspan="9"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At December 31, 2013</div></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="bottom" width="23%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Bank</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Commitment</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">In Use</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="8%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Date of Loan</div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Maturity/Expiry Date</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Commitment</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">In Use</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="8%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Date of Loan</div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Maturity/Expiry Date</div></td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="23%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Citibank Holdings Credit Facility</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="padding-bottom: 2px; text-align: right;" valign="bottom" width="6%">150,000</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="8%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="padding-bottom: 2px; text-align: right;" valign="bottom" width="6%">150,000</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="8%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="23%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 11pt;" align="left">Total revolving credit borrowings</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="8%"> </td> <td valign="bottom" width="12%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="8%"> </td> <td valign="bottom" width="12%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="23%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 11pt;" align="left">Total letters of credit</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">851</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="8%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">12/31/2014</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">851</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="8%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">12/31/2014</div></td></tr> <tr bgcolor="white"><td valign="bottom" width="23%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="8%"> </td> <td valign="bottom" width="12%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="5%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="8%"> </td> <td valign="bottom" width="12%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="23%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total Citibank Holdings Credit Facility</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">150,000</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">851</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="8%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">150,000</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">851</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="8%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%"> </td></tr></table> </div>

<div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="20%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="12%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="27%" colspan="8"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At March 31, 2014</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="27%" colspan="8"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">At December 31, 2013</div></td></tr> <tr><td style="border-bottom: black 2px solid;" valign="bottom" width="20%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Bank</div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="12%" align="left"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Commitment</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">In Use</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="11%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Date of Expiry</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Commitment</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%" colspan="2" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">In Use</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="11%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">Date of Expiry</div></td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="20%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Wells Fargo Bank Group Credit Facility</div></td> <td valign="bottom" width="12%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Tranche One</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">200,000</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="11%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">200,000</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="5%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="11%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="20%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="12%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Tranche Two</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">600,000</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">501,853</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="11%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">12/31/2014</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">600,000</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">502,059</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="11%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">12/31/2014</div></td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="32%" colspan="2" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Total Wells Fargo Bank Group Credit Facility</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">800,000</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">501,853</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="11%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">800,000</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="5%">502,059</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="11%"> </td></tr></table> </div>

<div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="22%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="6%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="8%" colspan="2"> </td> <td style="padding-bottom: 2px; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="15%" colspan="3"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Maturity Date</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="19%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31, 2014</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="19%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">December 31, 2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="22%"> </td> <td valign="bottom" width="6%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Original</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Consolidated Balance</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="8%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="9%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Consolidated Balance</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="8%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="22%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="border-bottom: black 2px solid;" valign="bottom" width="6%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Date Issued</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Principal Amount</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Scheduled</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="7%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Final</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="9%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Sheet Amount</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="9%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Sheet Amount</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="8%" colspan="2"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Market Value</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="22%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">6.6% Long term subordinated notes</div></td> <td valign="bottom" width="6%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">04/26/2007</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">400,000</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td valign="bottom" width="7%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">05/15/2037</div></td> <td valign="bottom" width="1%" align="right"> </td> <td valign="bottom" width="7%" align="right"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="right">05/01/2067</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="8%">238,361</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">249,411</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="8%">238,361</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="7%">233,292</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table> </div>

<div> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="80%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="81%" colspan="2" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands, except per share amounts)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="81%" colspan="2" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net income (loss) attributable to Everest Re Group per share:</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Numerator</div></td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="7%" colspan="2"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Net income (loss) attributable to Everest Re Group</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">293,933</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">384,343</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Less:  dividends declared-common shares and nonvested common shares</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(34,742</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(24,231</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Undistributed earnings</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">259,191</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">360,112</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Percentage allocated to common shareholders (1)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">99.0</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">%</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">99.2</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">%</td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">256,717</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">357,222</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Add:  dividends declared-common shareholders</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">34,391</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">24,019</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Numerator for basic and diluted earnings per common share</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">291,108</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">381,241</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Denominator</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Denominator for basic earnings per weighted-average common shares</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">46,479</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">50,423</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Effect of dilutive securities:</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 14pt; display: block; margin-right: 0pt; text-indent: 14pt;" align="left">Options</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">434</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">399</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Denominator for diluted earnings per adjusted weighted-average common shares</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">46,913</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">50,822</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Per common share net income (loss)</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Basic</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">6.26</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">7.56</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 7pt; display: block; margin-right: 0pt; text-indent: 7pt;" align="left">Diluted</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">6.21</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">7.50</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="text-align: left;" valign="bottom" width="1%"> <div style="text-align: left; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">(1)</div></td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Basic weighted-average common shares outstanding</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">46,479</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">50,423</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Basic weighted-average common shares outstanding and nonvested common shares expected to vest</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">46,927</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">50,831</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Percentage allocated to common shareholders</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">99.0</td> <td style="text-align: left;" valign="bottom" width="1%">%</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">99.2</td> <td style="text-align: left;" valign="bottom" width="1%">%</td></tr> <tr bgcolor="white"><td valign="bottom" width="1%"> </td> <td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="81%" colspan="2" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Some amounts may not reconcile due to rounding.)</div></td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table> </div>

262583000

<div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Times New Roman'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify"> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">16.  SEGMENT REPORTING</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The U.S. Reinsurance operation writes property and casualty reinsurance and specialty lines of business, including Marine, Aviation, Surety and Accident and Health ("A&H") business, on both a treaty and facultative basis, through reinsurance brokers, as well as directly with ceding companies primarily within the U.S.  The International operation writes non-U.S. property and casualty reinsurance through Everest Re's branches in Canada and Singapore and through offices in Brazil, Miami and New Jersey. The Bermuda operation provides reinsurance and insurance to worldwide property and casualty markets through brokers and directly with ceding companies from its Bermuda office and reinsurance to the United Kingdom and European markets through its UK branch and Ireland Re.  The Insurance operation writes property and casualty insurance, including medical stop loss insurance, directly and through general agents, brokers and surplus lines brokers within the U.S. and Canada.  The Mt. Logan Re segment represents business written for the segregated accounts of Mt. Logan Re, which were formed on July 1, 2013.  The Mt. Logan Re business represents a diversified set of catastrophe exposures, diversified by risk/peril and across different geographical regions globally.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">These segments, with the exception of Mt. Logan Re, are managed independently, but conform with corporate guidelines with respect to pricing, risk management, control of aggregate catastrophe exposures, capital, investments and support operations.  Management generally monitors and evaluates the financial performance of these operating segments based upon their underwriting results.  The Mt. Logan Re segment is managed independently and seeks to write a diverse portfolio of catastrophe risks for each segregated account to achieve desired risk and return criteria.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Underwriting results include earned premium less losses and loss adjustment expenses ("LAE") incurred, commission and brokerage expenses and other underwriting expenses.  We measure our underwriting results using ratios, in particular loss, commission and brokerage and other underwriting expense ratios, which, respectively, divide incurred losses, commissions and brokerage and other underwriting expenses by premiums earned.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Mt. Logan Re's business is sourced through operating subsidiaries of the Company; however, the activity is only reflected in the Mt. Logan Re segment.  For other inter-affiliate reinsurance, business is generally reported within the segment in which the business was first produced, consistent with how the business is managed.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Except for Mt. Logan Re, the Company does not maintain separate balance sheet data for its operating segments.  Accordingly, the Company does not review and evaluate the financial results of its operating segments based upon balance sheet data.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The following tables present the underwriting results for the operating segments for the periods indicated: <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">U.S. Reinsurance</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Gross written premiums</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">495,641</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">434,791</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net written premiums</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">497,757</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">434,639</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Premiums earned</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">429,641</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">392,616</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Incurred losses and LAE</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">213,455</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">198,158</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Commission and brokerage</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">92,968</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">87,326</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Other underwriting expenses</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">9,482</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">10,534</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Underwriting gain (loss)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">113,736</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">96,598</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">International</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Gross written premiums</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">321,242</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">297,560</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net written premiums</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">309,037</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">293,982</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Premiums earned</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">318,381</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">311,978</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Incurred losses and LAE</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">163,174</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">161,199</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Commission and brokerage</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">70,974</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">71,444</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Other underwriting expenses</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">7,837</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">7,930</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Underwriting gain (loss)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">76,396</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">71,405</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Bermuda</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Gross written premiums</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">183,415</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">195,758</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net written premiums</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">182,570</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">195,823</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Premiums earned</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">173,686</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">185,333</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Incurred losses and LAE</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">94,508</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">91,996</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Commission and brokerage</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">45,708</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">43,651</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Other underwriting expenses</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">8,286</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">7,759</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Underwriting gain (loss)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">25,184</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">41,927</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Insurance</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Gross written premiums</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">230,650</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">252,681</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net written premiums</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">211,668</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">225,249</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Premiums earned</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">203,237</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">198,832</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Incurred losses and LAE</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">142,191</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">141,291</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Commission and brokerage</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">34,209</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">30,625</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Other underwriting expenses</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">23,233</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">26,723</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Underwriting gain (loss)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">3,604</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">193</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Mt. Logan Re</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Gross written premiums</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">36,476</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net written premiums</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">26,557</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Premiums earned</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">19,545</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Incurred losses and LAE</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">6,081</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Commission and brokerage</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">2,143</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Other underwriting expenses</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">1,800</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Underwriting gain (loss)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">9,521</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="left"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">-</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div></div>The following table reconciles the underwriting results for the operating segments to income before taxes as reported in the consolidated statements of operations and comprehensive income (loss) for the periods indicated: <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;">  </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Underwriting gain (loss)</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">228,441</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">210,123</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify">Net investment income</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">123,157</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">145,781</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net realized capital gains (losses)</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">21,126</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">126,735</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Net derivative gain (loss)</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(1,661</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">15,285</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="justify">Corporate expenses</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(4,945</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(5,717</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Interest, fee and bond issue cost amortization expense</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(7,568</td> <td style="text-align: left;" valign="bottom" width="1%">)</td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td style="text-align: right;" valign="bottom" width="6%">(13,481</td> <td style="text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="#cceeff"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Other income (expense)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(3,296</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">(8,887</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">)</td></tr> <tr bgcolor="white"><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Income (loss) before taxes</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">355,254</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%">$</td> <td style="border-bottom: black 2px solid; text-align: right;" valign="bottom" width="6%">469,839</td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">The Company produces business in the U.S., Bermuda and internationally.  The net income deriving from and assets residing in the individual foreign countries in which the Company writes business are not identifiable in the Company's financial records.  Based on gross written premium, the table below presents the largest country, other than the U.S., in which the Company writes business, for the period indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">United Kingdom</div></td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">206,783</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">147,987</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">No other country represented more than 5% of the Company's revenues.</div> </div> </div></div></div> </div></div> </div>

233046000

43651000

30625000

71444000

87326000

246002000

45708000

34209000

70974000

2143000

92968000

249958000

249971000

5614000

4427000

172222

147.0350

537049000

1946439000

671000

5613266000

-1363958000

6816866000

466436000

1978966000

676000

5973378000

-1602590000

6968276000

157728000

2029774000

680000

6765967000

-1985873000

7037511000

211207000

2036320000

682000

7025158000

-2235856000

498157

206071

5000

2000

32527000

6546000

<div> <div style="display: block; text-indent: 0pt;"> <div> <div> <div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">15.  JUNIOR SUBORDINATED DEBT SECURITIES PAYABLE</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">In accordance with the provisions of the junior subordinated debt securities which were issued on March 29, 2004, Holdings elected to redeem the $329,897 thousand of 6.2% junior subordinated debt securities outstanding on May 24, 2013.  As a result of the early redemption, the Company incurred pre-tax expense of $7,282 thousand related to the immediate amortization of the remaining capitalized issuance costs on the trust preferred securities.</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Interest expense incurred in connection with these junior subordinated debt securities is as follows for the periods indicated:</div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; letter-spacing: normal; text-indent: 0px; -webkit-text-stroke-width: 0px;" align="left"> <table style="font-size: 10pt; font-family: 'times new roman';" cellspacing="0" cellpadding="0" width="100%"> <tr><td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr><td valign="bottom" width="80%"> </td> <td valign="bottom" width="1%"> </td> <td valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">Three Months Ended</div></td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%"> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="16%" colspan="6"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="center">March 31,</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr><td style="padding-bottom: 2px;" valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">(Dollars in thousands)</div></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%" align="right"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2014</div></td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="1%"> </td> <td style="padding-bottom: 2px; text-align: center;" valign="bottom" width="1%"> </td> <td style="border-bottom: black 2px solid; text-align: center;" valign="bottom" width="7%" colspan="2"> <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">2013</div></td> <td style="border-bottom: black 2px solid; text-align: left;" valign="bottom" width="1%"> </td></tr> <tr bgcolor="#cceeff"><td valign="bottom" width="80%" align="left"> <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;" align="left">Interest expense incurred</div></td> <td valign="bottom" width="1%" align="left"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">-</td> <td style="text-align: left;" valign="bottom" width="1%"> </td> <td valign="bottom" width="1%" align="right"> </td> <td style="text-align: left;" valign="bottom" width="1%">$</td> <td style="text-align: right;" valign="bottom" width="6%">5,113</td> <td style="text-align: left;" valign="bottom" width="1%"> </td></tr></table></div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; display: block; letter-spacing: normal; text-indent: 0pt; -webkit-text-stroke-width: 0px;"> </div> <div style="white-space: normal; word-spacing: 0px; text-transform: none; color: rgb(0,0,0); font: 13px 'Franklin Gothic Book'; margin-left: 0pt; display: block; letter-spacing: normal; margin-right: 0pt; text-indent: 0pt; -webkit-text-stroke-width: 0px;" align="justify">Holdings considered the mechanisms and obligations relating to the trust preferred securities, taken together, constituted a full and unconditional guarantee by Holdings of Capital Trust II's payment obligations with respect to their trust preferred securities.</div></div></div></div></div> </div>

20422000

22114000

1950307

1692164

1985873000

2235856000

238632000

249983000

210123000

41927000

193000

71405000

96598000

228441000

25184000

3604000

76396000

9521000

113736000

360112000

259191000

1579945000

1658734000

50822000

46913000

50423000

46479000

50423000

46479000

Basic weighted-average common shares outstanding