INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2014

Investments, Debt and Equity Securities [Abstract]

Reconciliation of available-for-sale securities from cost basis to fair value

The amortized cost and estimated fair value of securities available-for-sale as of December 31, 2014 and 2013 are as follows.  All securities are classified as available-for-sale and are carried at fair value.

December 31, 2014	Amortized cost		Gross unrealized gains		Gross unrealized losses		Estimated fair value
Securities available-for-sale:
Fixed maturity securities:
U.S. treasury	$	9,574	$	129	$	—	$	9,703
U.S. government-sponsored agencies	215,425		2,313		2,122		215,616
Obligations of states and political subdivisions	299,258		26,840		40		326,058
Commercial mortgage-backed	42,996		3,766		—		46,762
Residential mortgage-backed	100,296		1,402		3,745		97,953
Other asset-backed	14,798		1,213		6		16,005
Corporate	397,659		18,485		742		415,402
Total fixed maturity securities	1,080,006		54,148		6,655		1,127,499
Equity securities:
Common stocks:
Financial services	22,586		11,835		42		34,379
Information technology	15,755		11,110		—		26,865
Healthcare	14,673		12,179		—		26,852
Consumer staples	10,584		6,112		2		16,694
Consumer discretionary	11,304		11,420		33		22,691
Energy	15,837		7,458		432		22,863
Industrials	9,658		8,596		33		18,221
Other	11,493		4,563		—		16,056
Non-redeemable preferred stocks	12,082		617		284		12,415
Total equity securities	123,972		73,890		826		197,036
Total securities available-for-sale	$	1,203,978	$	128,038	$	7,481	$	1,324,535

December 31, 2013	Amortized cost		Gross unrealized gains		Gross unrealized losses		Estimated fair value
Securities available-for-sale:
Fixed maturity securities:
U.S. treasury	$	9,540	$	191	$	319	$	9,412
U.S. government-sponsored agencies	156,981		1,356		11,391		146,946
Obligations of states and political subdivisions	346,554		15,040		4,542		357,052
Commercial mortgage-backed	63,185		5,842		88		68,939
Residential mortgage-backed	96,058		1,073		2,952		94,179
Other asset-backed	11,456		1,192		—		12,648
Corporate	325,798		16,542		3,532		338,808
Total fixed maturity securities	1,009,572		41,236		22,824		1,027,984
Equity securities:
Common stocks:
Financial services	19,273		9,374		149		28,498
Information technology	12,645		6,301		29		18,917
Healthcare	12,801		9,144		—		21,945
Consumer staples	9,162		3,849		—		13,011
Consumer discretionary	10,722		10,309		—		21,031
Energy	14,102		7,341		326		21,117
Industrials	11,190		6,075		1		17,264
Other	13,358		4,489		36		17,811
Non-redeemable preferred stocks	10,582		316		644		10,254
Total equity securities	113,835		57,198		1,185		169,848
Total securities available-for-sale	$	1,123,407	$	98,434	$	24,009	$	1,197,832

Estimated fair value and gross unrealized losses associated with investment securities

The following table sets forth the estimated fair value and gross unrealized losses associated with investment securities that were in an unrealized loss position as of December 31, 2014 and 2013, listed by length of time the securities were in an unrealized loss position.

December 31, 2014	Less than twelve months				Twelve months or longer				Total
	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Fixed maturity securities:
U.S. government-sponsored agencies	$	24,473	$	94	$	97,446	$	2,028	$	121,919	$	2,122
Obligations of states and political subdivisions	—		—		3,757		40		3,757		40
Commercial mortgage-backed	1,102		—		—		—		1,102		—
Residential mortgage-backed	21,451		1,252		21,163		2,493		42,614		3,745
Other asset-backed	1,889		6		—		—		1,889		6
Corporate	16,740		281		28,257		461		44,997		742
Total fixed maturity securities	65,655		1,633		150,623		5,022		216,278		6,655
Equity securities:
Common stocks:
Financial services	1,162		9		187		33		1,349		42
Consumer staples	1,051		2		—		—		1,051		2
Consumer discretionary	822		33		—		—		822		33
Energy	4,298		432		—		—		4,298		432
Industrials	1,406		33		—		—		1,406		33
Non-redeemable preferred stocks	—		—		1,716		284		1,716		284
Total equity securities	8,739		509		1,903		317		10,642		826
Total temporarily impaired securities	$	74,394	$	2,142	$	152,526	$	5,339	$	226,920	$	7,481

December 31, 2013	Less than twelve months				Twelve months or longer				Total
	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Fixed maturity securities:
U.S. treasury	$	4,507	$	319	$	—	$	—	$	4,507	$	319
U.S. government-sponsored agencies	93,856		8,120		24,053		3,271		117,909		11,391
Obligations of states and political subdivisions	74,523		4,335		3,008		207		77,531		4,542
Commercial mortgage-backed	10,551		88		—		—		10,551		88
Residential mortgage-backed	44,243		2,482		4,600		470		48,843		2,952
Corporate	81,292		2,704		10,547		828		91,839		3,532
Total fixed maturity securities	308,972		18,048		42,208		4,776		351,180		22,824
Equity securities:
Common stocks:
Financial services	2,801		149		—		—		2,801		149
Information technology	610		29		—		—		610		29
Consumer staples	30		—		—		—		30		—
Energy	1,450		326		—		—		1,450		326
Industrials	625		1		—		—		625		1
Other	1,499		36		—		—		1,499		36
Non-redeemable preferred stocks	2,121		128		1,484		516		3,605		644
Total equity securities	9,136		669		1,484		516		10,620		1,185
Total temporarily impaired securities	$	318,108	$	18,717	$	43,692	$	5,292	$	361,800	$	24,009

Amortized cost and estimated fair value of fixed maturity securities

The amortized cost and estimated fair value of fixed maturity securities at December 31, 2014, by contractual maturity, are shown below.  Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations, with or without call or prepayment penalties.

	Amortized cost		Estimated fair value
Securities available-for-sale:
Due in one year or less	$	33,469	$	33,945
Due after one year through five years	194,140		204,973
Due after five years through ten years	223,145		229,778
Due after ten years	485,960		514,088
Mortgage-backed securities	143,292		144,715
Totals	$	1,080,006	$	1,127,499

Summary of realized investment gains and (losses)

A summary of realized investment gains and (losses) is as follows:

	Year ended December 31,
	2014			2013			2012
Fixed maturity securities available-for-sale:
Gross realized investment gains	$	979		$	1,226		$	795
Gross realized investment losses	(92		)	(725		)	(10		)
"Other-than-temporary" impairments	(1		)	—			—
Equity securities available-for-sale:
Gross realized investment gains	8,913			9,458			9,984
Gross realized investment losses	(1,727		)	(899		)	(2,566		)
"Other-than-temporary" impairments	(877		)	(63		)	(186		)
Other long-term investments:
Gross realized investment losses	(2,846		)	—			—
Totals	$	4,349		$	8,997		$	8,017

Summary of net investment income

A summary of net investment income is as follows:

	Year ended December 31,
	2014			2013			2012
Interest on fixed maturity securities	$	41,932		$	40,062		$	41,699
Dividends on equity securities	6,007			4,619			3,852
Interest on short-term investments	—			27			129
Return on long-term investments	297			22			12
Total investment income	48,236			44,730			45,692
Securities litigation income	107			219			58
Investment expenses	(1,878		)	(1,927		)	(1,605		)
Net investment income	$	46,465		$	43,022		$	44,145

Summary of net changes in unrealized holding gains (losses) on securities available-for-sale

A summary of net changes in unrealized holding gains (losses) on securities available-for-sale is as follows:

	Year ended December 31,
	2014		2013			2012
Fixed maturity securities	$	29,081	$	(60,540	)	$	20,687
Deferred income tax expense (benefit)	10,179		(21,189		)	7,240
Total fixed maturity securities	18,902		(39,351		)	13,447
Equity securities	17,051		27,571			8,008
Deferred income tax expense	5,967		9,650			2,803
Total equity securities	11,084		17,921			5,205
Total available-for-sale securities	$	29,986	$	(21,430	)	$	18,652