SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2016

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of summarized financial information of Maui Jim

(in millions)	2016		2015
Total assets	$	246.9	$	223.4
Total liabilities		112.4		90.0
Total equity		134.5		133.4

Schedule of goodwill and intangible assets

Goodwill and Intangible Assets
(in thousands)
Reporting Unit		2016		2015
Goodwill
Energy surety	$	25,706	$	25,706
Miscellaneous and contract surety		15,110		15,110
Small Commercial		5,246		5,246
Medical professional liability *		5,208		12,434
Total goodwill	$	51,270	$	58,496
Intangibles
State insurance licenses	$	7,500	$	7,500
Definite-lived intangibles, net of accumulated amortization of $5,546 at 12/31/16 and $4,678 at 12/31/15		5,601		5,298
Total intangibles	$	13,101	$	12,798
Total goodwill and intangibles	$	64,371	$	71,294

*  The 2016 medical professional liability goodwill balance reflects a $7.2 million non-cash impairment charge recorded in 2016.

Schedule of reconciliation of numerator and denominator of the basic and diluted earnings per share computations

			Weighted Average
	Income		Shares	Per Share
(in thousands, except per share data)	(Numerator)		(Denominator)	Amount
For the year ended December 31, 2016
Basic EPS
Income available to common shareholders	$	114,920	43,772	$	2.63
Stock options		—	660
Diluted EPS
Income available to common shareholders and assumed conversions	$	114,920	44,432	$	2.59
For the year ended December 31, 2015
Basic EPS
Income available to common shareholders	$	137,544	43,299	$	3.18
Stock options		—	832
Diluted EPS
Income available to common shareholders and assumed conversions	$	137,544	44,131	$	3.12
For the year ended December 31, 2014
Basic EPS
Income available to common shareholders	$	135,445	43,020	$	3.15
Stock options		—	799
Diluted EPS
Income available to common shareholders and assumed conversions	$	135,445	43,819	$	3.09

Schedule of changes in the balance of each component of accumulated other comprehensive earnings

Unrealized Gains/Losses on Available-for-Sale Securities	For the Year Ended December 31,
(in thousands)	2016		2015		2014
Beginning balance	$	123,774	$	171,383	$	136,027
Other comprehensive earnings before reclassifications		26,740		(26,199)		57,081
Amounts reclassified from accumulated other comprehensive earnings		(27,904)		(21,410)		(21,725)
Net current-period other comprehensive earnings (loss)	$	(1,164)	$	(47,609)	$	35,356
Ending balance	$	122,610	$	123,774	$	171,383

Schedule of effects of reclassifications out of accumulated other comprehensive earnings

Amount Reclassified from Accumulated Other Comprehensive Earnings
(in thousands)
Component of Accumulated	For the Year Ended December 31,						Affected line item in the
Other Comprehensive Earnings	2016		2015		2014		Statement of Earnings
Unrealized gains and losses on available-for-sale securities	$	43,024	$	32,939	$	33,423	Netrealized investment gains
		(95)		—		—	Other-than-temporary impairment (OTTI) losses on investments
	$	42,929	$	32,939	$	33,423	Earnings before income taxes
		(15,025)		(11,529)		(11,698)	Income tax expense
	$	27,904	$	21,410	$	21,725	Net earnings