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Investments (Table Text Block)
12 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]    
Available-for-Sale Investments

 

 

Amortized

Cost

 

Gross

Unrealized

Gains

 

Gross

Unrealized

Losses More than 12 Months

 

Gross

Unrealized

Losses Less than 12 Months

 

Estimated

Market

Value

 

 

(In thousands)

U.S. treasury securities and government obligations

$

123,474

$

2,892

$

$

(1,675)

$

124,691

U.S. government agency mortgage-backed securities

 

27,908

 

1,070

 

(6)

 

(377)

 

28,595

Obligations of states and political subdivisions

 

159,417

 

9,466

 

(23)

 

(424)

 

168,436

Corporate securities

 

1,263,703

 

32,901

 

(5,731)

 

(13,837)

 

1,277,036

Mortgage-backed securities

 

26,577

 

515

 

 

(5)

 

27,087

Redeemable preferred stocks

 

13,789

 

168

 

 

(468)

 

13,489

Common stocks

 

15,732

 

8,728

 

(10)

 

(16)

 

24,434

 

$

1,630,600

$

55,740

$

(5,770)

$

(16,802)

$

1,663,768

 

 

 

Amortized

Cost

 

Gross

Unrealized

Gains

 

Gross

Unrealized

Losses More than 12 Months

 

Gross

Unrealized

Losses Less than 12 Months

 

Estimated

Market

Value

 

 

(In thousands)

U.S. treasury securities and government obligations

$

85,861

$

3,791

$

$

(193)

$

89,459

U.S. government agency mortgage-backed securities

 

21,845

 

1,596

 

(6)

 

(39)

 

23,396

Obligations of states and political subdivisions

 

166,725

 

10,660

 

(81)

 

(414)

 

176,890

Corporate securities

 

1,143,125

 

26,861

 

(8,013)

 

(28,181)

 

1,133,792

Mortgage-backed securities

 

24,991

 

475

 

 

(62)

 

25,404

Redeemable preferred stocks

 

17,977

 

556

 

 

(105)

 

18,428

Common stocks

 

15,983

 

7,822

 

(10)

 

(375)

 

23,420

 

$

1,476,507

$

51,761

$

(8,110)

$

(29,369)

$

1,490,789

 

Adjusted Cost and Estimated Market Value of Available-for-sale Investments

 

 

March 31, 2017

 

March 31, 2016

 

 

Amortized

Cost

 

Estimated

Market

Value

 

Amortized

Cost

 

Estimated

Market

Value

 

 

(In thousands)

Due in one year or less

$

35,399

$

35,795

$

48,679

$

49,146

Due after one year through five years

 

324,286

 

333,016

 

250,576

 

256,597

Due after five years through ten years

 

598,232

 

607,184

 

557,984

 

557,961

Due after ten years

 

616,585

 

622,763

 

560,317

 

559,833

 

 

1,574,502

 

1,598,758

 

1,417,556

 

1,423,537

 

 

 

 

 

 

 

 

 

Mortgage backed securities

 

26,577

 

27,087

 

24,991

 

25,404

Redeemable preferred stocks

 

13,789

 

13,489

 

17,977

 

18,428

Equity securities

 

15,732

 

24,434

 

15,983

 

23,420

 

$

1,630,600

$

1,663,768

$

1,476,507

$

1,490,789

 

 
Carrying Value of Other Investments

 

 

March 31,

 

 

2017

 

2016

 

 

(In thousands)

Mortgage loans, net

$

262,875

$

217,198

Short-term investments

 

15,149

 

34,798

Real estate

 

66,174

 

34,416

Policy loans

 

17,112

 

17,091

Other equity investments

 

6,520

 

8,318

 

$

367,830

$

311,821