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Investments (Tables)
 6 Months Ended
Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]  
Realized Investment Gains (Losses), Excluding Impairment Losses
The table below presents realized investment gains and losses, excluding impairment losses, for the periods indicated.

 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
Available for sale debt securities:
 
 
 
 
 
 
 
Realized gains on disposal
$
2,985

 
2,985

 
3,198

 
3,677

Realized losses on disposal
(65
)
 
(14
)
 
(74
)
 
(22
)
Held to maturity debt securities:
 
 
 
 
 
 
 
Realized gains on disposal
1,404

 
32

 
2,128

 
814

Realized losses on disposal
—

 
(6
)
 
—

 
(17
)
Equity securities realized gains (losses)
41

 
23

 
91

 
27

Real estate gains (losses)
—

 
45

 
—

 
134

 
 
 
 
 
 
 
 
Totals
$
4,365

 
3,065

 
5,343

 
4,613
Net Impairment Losses Recognized in Earnings
The table below presents net impairment losses recognized in earnings for the periods indicated.

 
 
Three Months Ended
 
Six Months Ended
 
 
June 30,
 
June 30,
 
 
2015
 
2014
 
2015
 
2014
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
Total other-than-temporary impairment gains (losses) on debt securities
 
$
105

 
—

 
265

 
(4
)
Portion of loss (gain) recognized in comprehensive income
 
(105
)
 
—

 
(265
)
 
(3
)
 
 
 
 
 
 
 
 
 
Net impairment losses on debt securities recognized in earnings
 
—

 
—

 
—

 
(7
)
Equity securities impairments
 
(107
)
 
—

 
(107
)
 
(28
)
 
 
 
 
 
 
 
 
 
Totals
 
$
(107
)
 
—

 
(107
)
 
(35
)
Credit Losses on Securities, Also Recorded as Non-Credit Other-than-Temporary Impairments in Other Comprehensive Loss
The table below presents a roll forward of credit losses on securities for which the Company also recorded non-credit other-than-temporary impairments in other comprehensive loss.

 
Three Months Ended June 30, 2015
 
Six Months Ended June 30, 2015
 
Twelve Months
Ended
December 31,
2014
 
 
 
(In thousands)

 
 
 
 
 
 
 
 
Beginning balance, cumulative credit losses related to other-than-temporary impairments
$
2,278

 
2,298

 
2,472

Reductions for securities sold during current period
—

 
(20
)
 
(181
)
Additions for credit losses not previously recognized in other-than-temporary impairments
—

 
—

 
7

 
 
 
 
 
 
Ending balance, cumulative credit losses related to other-than-temporary impairments
$
2,278

 
2,278

 
2,298
Schedule of Held-to-Maturity Securities
The table below presents amortized costs and fair values of securities held to maturity at June 30, 2015.

 
Securities Held to Maturity
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
(In thousands)
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
U.S. agencies
$
15,038

 
517

 
(137
)
 
15,418

U.S. Treasury
1,923

 
369

 
—

 
2,292

States and political subdivisions
439,504

 
26,535

 
(2,536
)
 
463,503

Foreign governments
—

 
—

 
—

 
—

Public utilities
1,010,342

 
53,640

 
(4,433
)
 
1,059,549

Corporate
4,056,712

 
153,167

 
(37,448
)
 
4,172,431

Mortgage-backed
1,575,798

 
62,921

 
(8,333
)
 
1,630,386

Home equity
18,380

 
4,574

 
—

 
22,954

Manufactured housing
3,742

 
321

 
—

 
4,063

 
 
 
 
 
 
 
 
Totals
$
7,121,439

 
302,044

 
(52,887
)
 
7,370,596

The table below presents amortized costs and fair values of securities held to maturity at December 31, 2014.

 
Securities Held to Maturity
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
(In thousands)
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
U.S. agencies
$
10,061

 
705

 
—

 
10,766

U.S. Treasury
1,920

 
409

 
—

 
2,329

States and political subdivisions
432,186

 
31,417

 
(336
)
 
463,267

Public utilities
978,847

 
67,836

 
(757
)
 
1,045,926

Corporate
3,754,222

 
183,650

 
(18,591
)
 
3,919,281

Mortgage-backed
1,640,582

 
68,726

 
(4,164
)
 
1,705,144

Home equity
18,886

 
4,734

 
(57
)
 
23,563

Manufactured housing
4,839

 
328

 
—

 
5,167

 
 
 
 
 
 
 
 
Totals
$
6,841,543

 
357,805

 
(23,905
)
 
7,175,443
Schedule of Available-for-Sale Securities
The table below presents amortized costs and fair values of securities available for sale at December 31, 2014.

 
Securities Available for Sale
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
(In thousands)
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
States and political subdivisions
$
589

 
—

 
(36
)
 
553

Foreign governments
9,939

 
386

 
—

 
10,325

Public utilities
169,179

 
10,163

 
(126
)
 
179,216

Corporate
2,334,700

 
128,280

 
(8,961
)
 
2,454,019

Mortgage-backed
48,674

 
4,116

 
—

 
52,790

Home equity
11,702

 
225

 
(9
)
 
11,918

Manufactured housing
2,492

 
64

 
—

 
2,556

 
2,577,275

 
143,234

 
(9,132
)
 
2,711,377

 
 
 
 
 
 
 
 
Equity securities
12,799

 
4,849

 
(345
)
 
17,303

 
 
 
 
 
 
 
 
Totals
$
2,590,074

 
148,083

 
(9,477
)
 
2,728,680

The table below presents amortized costs and fair values of securities available for sale at June 30, 2015.

 
Securities Available for Sale
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
(In thousands)
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
States and political subdivisions
$
588

 
—

 
(53
)
 
535

Foreign governments
9,943

 
482

 
—

 
10,425

Public utilities
150,042

 
8,407

 
(480
)
 
157,969

Corporate
2,512,794

 
105,156

 
(22,270
)
 
2,595,680

Mortgage-backed
42,184

 
3,734

 
—

 
45,918

Home equity
11,381

 
199

 
(8
)
 
11,572

Manufactured housing
1,411

 
43

 
—

 
1,454

 
2,728,343

 
118,021

 
(22,811
)
 
2,823,553

 
 
 
 
 
 
 
 
Equity securities
12,650

 
4,637

 
(251
)
 
17,036

 
 
 
 
 
 
 
 
Totals
$
2,740,993

 
122,658

 
(23,062
)
 
2,840,589
Schedule of Gross Unrealized Losses and Fair Values of Held-to-Maturity Investments, Continuous Unrealized Loss Position
The following table shows the gross unrealized losses and fair values of the Company's held to maturity investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at June 30, 2015.

 
Securities Held to Maturity
 
Less than 12 Months
 
12 Months or Greater
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. agencies
$
4,858

 
(137
)
 
—

 
—

 
4,858


(137
)
States and political subdivisions
65,904

 
(1,633
)
 
12,567

 
(903
)
 
78,471

 
(2,536
)
Public utilities
228,627

 
(3,727
)
 
17,802

 
(706
)
 
246,429

 
(4,433
)
Corporate
1,176,531

 
(25,477
)
 
300,133

 
(11,971
)
 
1,476,664

 
(37,448
)
Mortgage-backed
234,516

 
(4,501
)
 
85,928

 
(3,832
)
 
320,444

 
(8,333
)
 
 
 
 
 
 
 
 
 
 
 
 
Total temporarily impaired securities
$
1,710,436

 
(35,475
)
 
416,430

 
(17,412
)
 
2,126,866

 
(52,887
)
The following table shows the gross unrealized losses and fair values of the Company's held to maturity investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at December 31, 2014.

 
Securities Held to Maturity
 
Less than 12 Months
 
12 Months or Greater
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
 
 
 
 
States and political subdivisions
$
—

 
—

 
23,076

 
(336
)
 
23,076

 
(336
)
Public utilities
7,078

 
(13
)
 
48,198

 
(744
)
 
55,276

 
(757
)
Corporate
156,839

 
(2,997
)
 
698,316

 
(15,594
)
 
855,155

 
(18,591
)
Mortgage-backed
17,698

 
(240
)
 
181,694

 
(3,924
)
 
199,392

 
(4,164
)
Home equity
2,206

 
(57
)
 
—

 
—

 
2,206

 
(57
)
 
 
 
 
 
 
 
 
 
 
 
 
Total temporarily impaired securities
$
183,821

 
(3,307
)
 
951,284

 
(20,598
)
 
1,135,105

 
(23,905
)
Schedule of Gross Unrealized Losses and Fair Values of Available-for-Sale Investments, Continuous Unrealized Loss Position
The following table shows the gross unrealized losses and fair values of the Company's available for sale investments by investment category and length of time that the individual securities have been in a continuous unrealized loss position at December 31, 2014.
 
Securities Available for Sale
 
Less than 12 Months
 
12 Months or Greater
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
 
 
 
 
States and political subdivisions
$
—

 
—

 
553

 
(36
)
 
553

 
(36
)
Public utilities
—

 
—

 
14,827

 
(126
)
 
14,827

 
(126
)
Corporate
100,373

 
(2,990
)
 
187,699

 
(5,971
)
 
288,072

 
(8,961
)
Home equity
—

 
—

 
4,826

 
(9
)
 
4,826

 
(9
)
 
100,373

 
(2,990
)
 
207,905

 
(6,142
)
 
308,278

 
(9,132
)
 
 
 
 
 
 
 
 
 
 
 
 
Equity securities
305

 
(52
)
 
3,801

 
(293
)
 
4,106

 
(345
)
 
 
 
 
 
 
 
 
 
 
 
 
Total temporarily impaired securities
$
100,678

 
(3,042
)
 
211,706

 
(6,435
)
 
312,384

 
(9,477
)
The following table shows the gross unrealized losses and fair values of the Company's available for sale investments by investment category and length of time the individual securities have been in a continuous unrealized loss position at June 30, 2015.

 
Securities Available for Sale
 
Less than 12 Months
 
12 Months or Greater
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
 
 
 
 
States and political subdivisions
$
—

 
—

 
535

 
(53
)
 
535

 
(53
)
Public utilities
17,472

 
(480
)
 
—

 
—

 
17,472

 
(480
)
Corporate
740,487

 
(16,629
)
 
114,467

 
(5,641
)
 
854,954

 
(22,270
)
Home equity
—

 
—

 
4,827

 
(8
)
 
4,827

 
(8
)
 
757,959

 
(17,109
)
 
119,829

 
(5,702
)
 
877,788

 
(22,811
)
 
 
 
 
 
 
 
 
 
 
 
 
Equity securities
2,989

 
(196
)
 
1,378

 
(55
)
 
4,367

 
(251
)
 
 
 
 
 
 
 
 
 
 
 
 
Total temporarily impaired securities
$
760,948

 
(17,305
)
 
121,207

 
(5,757
)
 
882,155

 
(23,062
)
Schedule of Mortgage Loans by Loan-to-Value Ratio
The following table represents the mortgage loan portfolio by loan-to-value ratio.

 
June 30, 2015
 
December 31, 2014
 
Amount
 
%
 
Amount
 
%
 
(In thousands)
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
Mortgage Loans by Loan-to-Value Ratio (1):
 
 
 
 
 
 
 
Less than 50%
$
44,743

 
33.7

 
$
52,564

 
35.0

50% to 60%
44,385

 
33.4

 
50,553

 
33.7

60% to 70%
19,935

 
15.0

 
14,567

 
9.7

70% to 80%
4,291

 
3.2

 
12,656

 
8.4

80% to 90%
19,557

 
14.7

 
5,399

 
3.6

Greater than 90%
—

 
—

 
14,414

 
9.6

Gross balance
132,911

 
100.0

 
150,153

 
100.0

 
 
 
 
 
 
 
 
Allowance for possible losses
(650
)
 
(0.5
)
 
(650
)
 
(0.4
)
 
 
 
 
 
 
 
 
Totals
$
132,261

 
99.5

 
$
149,503

 
99.6


(1) Loan-to-Value Ratio determined using the most recent appraised value.
Schedule of Allowance for Mortgage Loans
The following table represents the mortgage loan allowance.
 
June 30, 2015
 
December 31, 2014
 
(In thousands)
 
 
 
 
Balance, beginning of period
$
650

 
650

Provision
—

 
—

Releases
—

 
—

 
 
 
 
Balance, end of period
$
650

 
650