Investments (Tables)

9 Months Ended

Sep. 30, 2013

Investments [Abstract]

Amortized Cost and Estimated Fair Value of Investments in Debt and Equity Securities by Category

The amortized cost and estimated fair value of investments in debt and equity securities by category is as follows (in thousands):

		Gross	Gross
	Amortized	Unrealized	Unrealized	Fair
As of September 30, 2013	Cost	Gains	Losses	Value
U.S. Treasury securities and
obligations of U.S. Government	$ 34,083	$ 31	$                  -	$ 34,114
Corporate bonds	58,633	1,285	(525)	59,393
Collateralized corporate bank loans	119,626	475	(549)	119,552
Municipal bonds	153,974	2,701	(2,179)	154,496
Mortgage-backed	29,544	339	(791)	29,092
Total debt securities	395,860	4,831	(4,044)	396,647
Financial services	4,705	2,985	-	7,690
All other	19,328	19,644	(722)	38,250
Total equity securities	24,033	22,629	(722)	45,940
Total debt and equity securities	$ 419,893	$ 27,460	$ (4,766)	$ 442,587
As of December 31, 2012
U.S. Treasury securities and
obligations of U.S. Government	$ 40,050	$ 14	$ (3)	$ 40,061
Corporate bonds	79,516	2,794	(763)	81,547
Collateralized corporate bank loans	106,093	1,021	(743)	106,371
Municipal bonds	162,479	4,023	(2,770)	163,732
Mortgage-backed	9,662	97	(35)	9,724
Total debt securities	397,800	7,949	(4,314)	401,435
Financial services	11,008	3,880	(1)	14,887
All other	20,494	9,058	(514)	29,038
Total equity securities	31,502	12,938	(515)	43,925
Total debt and equity securities	$ 429,302	$ 20,887	$ (4,829)	$ 445,360

Summary of Realized Gain (Loss) on Investments

Major categories of net realized gains (losses) on investments are summarized as follows (in thousands):

	Three Months Ended		Nine Months Ended
	September 30		September 30
	2013	2012	2013	2012
U.S. Treasury securities and
obligations of U.S. Government	$             -	$         -	$       -	$      -
Corporate bonds	21	159	846	9
Collateralized corporate bank loans	44	93	316	229
Municipal bonds	(50)	(50)	(11)	(294)
Equity securities-financial services	6,935	8	7,579	78
Equity securities-all other	-	772	993	2,078
Gain on investments	6,950	982	9,723	2,100
Other-than-temporary impairments	-	-	-	(246)
Net realized gains	$ 6,950	$         982	$ 9,723	$  1,854

Summary of Gross Unrealized Losses for Investments that have been Continuously in Unrealized Loss Position

The following schedules summarize the gross unrealized losses showing the length of time that investments have been continuously in an unrealized loss position as of September 30, 2013 and December 31, 2012 (in thousands):

	As of September 30, 2013
	12 months or less		Longer than 12 months		Total
		Unrealized		Unrealized		Unrealized
	Fair Value	Losses	Fair Value	Losses	Fair Value	Losses
U.S. Treasury securities and obligations
of U.S. Government	$                   -	$                -	$                -	$                 -	$                  -	$                  -
Corporate bonds	12,694	(156)	3,048	(369)	15,742	(525)
Collateralized corporate bank loans	48,926	(368)	6,915	(181)	55,841	(549)
Municipal bonds	28,861	(488)	38,953	(1,691)	67,814	(2,179)
Mortgage-backed	14,328	(788)	107	(3)	14,435	(791)
Total debt securities	104,809	(1,800)	49,023	(2,244)	153,832	(4,044)
Financial services	-	-	-	-	-	-
All other	2,348	(722)	-	-	2,348	(722)
Total equity securities	2,348	(722)	-	-	2,348	(722)
Total debt and equity securities	$ 107,157	$ (2,522)	$ 49,023	$ (2,244)	$ 156,180	$ (4,766)
	As of  December 31, 2012
	12 months or less		Longer than 12 months		Total
		Unrealized		Unrealized		Unrealized
	Fair Value	Losses	Fair Value	Losses	Fair Value	Losses
U.S. Treasury securities and obligations
of U.S. Government	$ 23,998	$ (3)	$              -	$             -	$ 23,998	$ (3)
Corporate bonds	10,802	(38)	6,910	(725)	17,712	(763)
Collateralized corporate bank loans	6,273	(97)	14,236	(646)	20,509	(743)
Municipal bonds	30,073	(362)	28,809	(2,408)	58,882	(2,770)
Mortgage-backed	7,367	(32)	84	(3)	7,451	(35)
Total debt securities	78,513	(532)	50,039	(3,782)	128,552	(4,314)
Financial services	92	(1)	-	-	92	(1)
All other	3,271	(514)	-	-	3,271	(514)
Total equity securities	3,363	(515)	-	-	3,363	(515)
Total debt and equity securities	$ 81,876	$ (1,047)	$ 50,039	$ (3,782)	$ 131,915	$ (4,829)

Schedule of Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturities

	Amortized	Fair
	Cost	Value
	(in thousands)
Due in one year or less	$ 63,230	$ 63,768
Due after one year through five years	153,969	154,311
Due after five years through ten years	96,692	97,585
Due after ten years	52,424	51,891
Mortgage-backed	29,545	29,092
	$ 395,860	$ 396,647