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Other Comprehensive Income (Loss)
 6 Months Ended
Jun. 30, 2014
Other Comprehensive Income (Loss), Tax [Abstract]  
Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss)

Other comprehensive income (loss) includes net holding gains (losses) arising during the period, changes in unrealized other-than-temporary impairment losses on fixed maturities arising during the period and reclassification adjustments for net gains included in net income. Other comprehensive income (loss) also includes changes in foreign currency translation adjustments and changes in net actuarial pension loss.

The following table presents the change in accumulated other comprehensive income by component, net of taxes and noncontrolling interests, for the six months ended June 30, 2014 and 2013.

(dollars in thousands)
Unrealized Holding Gains on Available-for-Sale Securities
 
Foreign Currency
 
Net Actuarial Pension Loss
 
Total
December 31, 2012
$
946,933

 
$
(1,075
)
 
$
(34,521
)
 
$
911,337

Other comprehensive income (loss) before reclassifications
23,088

 
(11,640
)
 
—

 
11,448

Amounts reclassified from accumulated other comprehensive income
(20,212
)
 
—

 
736

 
(19,476
)
Total other comprehensive income (loss)
2,876

 
(11,640
)
 
736

 
(8,028
)
June 30, 2013
$
949,809

 
$
(12,715
)
 
$
(33,785
)
 
$
903,309

 
 
 
 
 
 
 
 
December 31, 2013
$
1,131,507

 
$
(11,246
)
 
$
(30,456
)
 
$
1,089,805

Other comprehensive income before reclassifications
355,623

 
7,572

 
—

 
363,195

Amounts reclassified from accumulated other comprehensive income
(10,762
)
 
—

 
644

 
(10,118
)
Total other comprehensive income
344,861

 
7,572

 
644

 
353,077

June 30, 2014
$
1,476,368

 
$
(3,674
)
 
$
(29,812
)
 
$
1,442,882



The following table summarizes the tax expense (benefit) associated with each component of other comprehensive income (loss).
 
Quarter Ended June 30,
 
Six Months Ended June 30,
(dollars in thousands)
2014
 
2013
 
2014
 
2013
Change in net unrealized gains on investments:
 
 
 
 
 
 
 
Net holding gains (losses) arising during the period
$
97,681

 
$
(77,471
)
 
$
173,204

 
$
8,075

Change in unrealized other-than-temporary impairment losses on fixed maturities arising during the period
5

 
(21
)
 
569

 
54

Reclassification adjustments for net gains included in net income
(1,523
)
 
(3,536
)
 
(3,677
)
 
(9,198
)
Change in net unrealized gains on investments
96,163

 
(81,028
)
 
170,096

 
(1,069
)
Change in foreign currency translation adjustments
1,124

 
—

 
1,466

 
38

Change in net actuarial pension loss
81

 
109

 
161

 
219

Total
$
97,368

 
$
(80,919
)
 
$
171,723

 
$
(812
)


The following table presents the details of amounts reclassified from accumulated other comprehensive income into income, by component.

 
Quarter Ended June 30,
 
Six Months Ended June 30,
(dollars in thousands)
2014
 
2013
 
2014
 
2013
Unrealized holding gains on available-for-sale securities:
 
 
 
 
 
 
 
Other-than-temporary impairment losses
$
(1,007
)
 
$
(4,589
)
 
$
(1,007
)
 
$
(4,589
)
Net realized investment gains, excluding other-than-temporary impairment losses
7,348

 
16,082

 
15,446

 
33,999

Total before taxes
6,341

 
11,493

 
14,439

 
29,410

Income taxes
(1,523
)
 
(3,536
)
 
(3,677
)
 
(9,198
)
Reclassification of unrealized holding gains, net of taxes
$
4,818

 
$
7,957

 
$
10,762

 
$
20,212

 
 
 
 
 
 
 
 
Net actuarial pension loss:
 
 
 
 

 

Underwriting, acquisition and insurance expenses
$
(406
)
 
$
(475
)
 
$
(805
)
 
$
(955
)
Income taxes
81

 
109

 
161

 
219

Reclassification of net actuarial pension loss, net of taxes
$
(325
)
 
$
(366
)
 
$
(644
)
 
$
(736
)