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INVESTMENT OPERATIONS (Details) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
INVESTMENT OPERATIONS        
Fixed maturities $ 30,196,000   $ 35,491,000  
Equity securities 70,000   9,170,000  
Impairments on fixed maturity securities (9,487,000)   (15,150,000)  
Modco trading portfolio 33,603,000 63,967,000 27,954,000 108,060,000
Other investments (4,952,000)   (9,226,000)  
Total realized gains (losses) - investments 49,430,000 50,906,000 48,239,000 86,936,000
Gross realized gains on investments available-for-sale (fixed maturities, equity securities, and short-term investments) 31,800,000   46,400,000  
Gross realized losses 10,800,000   16,600,000  
Impairment losses on investments available-for-sale 9,200,000   14,800,000  
Impairment losses in the trading portfolio 300,000   400,000  
Gains on securities that have recovered in value as the issuer exited bankruptcy     6,900,000  
Gains recognized on the sale of Federal National Mortgage Association preferreds     1,200,000  
Fair value (proceeds) of securities in an unrealized gain position sold 1,300,000,000   1,500,000,000  
Gain realized on the sale of securities in an unrealized gain position 31,800,000   46,400,000  
Fair value (proceeds) of securities in an unrealized loss position sold 142,900,000   162,900,000  
Loss realized on the sale of securities in an unrealized loss position $ 1,600,000   $ 1,800,000