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SCHEDULE I-SUMMARY OF INVESTMENTS-OTHER THAN INVESTMENTS IN RELATED PARTIES

12 Months Ended

Dec. 31, 2011

SCHEDULE I-SUMMARY OF INVESTMENTS-OTHER THAN INVESTMENTS IN RELATED PARTIES

SCHEDULE I-SUMMARY OF INVESTMENTS-OTHER THAN INVESTMENTS IN RELATED PARTIES

SCHEDULE I—SUMMARY OF INVESTMENTS—OTHER THAN INVESTMENTS

IN RELATED PARTIES

December 31, 2011

Column A		Column B			Column C			Column D
(in thousands)								Amount at
								which shown in
Type of Investment		Cost (1)			Fair Value			the balance sheet
Fixed maturities:
Bonds:
Available-for-sale
U.S. Government		$	15,721		$	16,172		$	16,172
U.S. Agencies		112,975			113,819			113,819
Non-U.S. Government & Agency		6,403			6,697			6,697
Mtge/ABS/CMO*		287,459			305,939			305,939
Corporates		439,079			467,100			467,100
States, political subdivisions, and revenues		224,091			236,590			236,590
Total available-for-sale		$	1,085,728		$	1,146,317		$	1,146,317

Held-to-maturity
U.S. Government		$	—		$	—		$	—
U.S. Agencies		243,571			244,656			243,571
Corporates		15,000			14,536			15,000
State, political subdivisions, and revenues		1,655			1,789			1,655
Total held-to-maturity		$	260,226		$	260,981		$	260,226

Trading
U.S. Government		$	—		$	—		$	—
U.S. Agencies		—			—			—
Mtge/ABS/CMO*		7			7			7
Corporates		—			—			—
States, political subdivisions, and revenues		—			—			—
Total trading		$	7		$	7		$	7

Total fixed maturities		$	1,345,961		$	1,407,305		$	1,406,550

Equity securities, available-for-sale
Common stock
Ind Misc & all other		$	207,230		$	314,331		$	314,331
I Shares (Ind/misc)		62,170			74,358			74,358
Reits (Ind/misc)		0			0			0
Total equity securities		$	269,400		$	388,689		$	388,689

Cash & short-term investments		$	105,049		$	105,049		$	105,049

Total investments and cash		$	1,720,410		$	1,901,043		$	1,900,288

*Mortgage-backed, asset-backed & collateralized mortgage obligations.

Note: See notes 1E and 2 of Notes to Consolidated Financial Statements, as attached in Exhibit 13. See also the accompanying report of independent registered accounting firm on page 50 of this report.

(1) Original cost of equity securities and, as to fixed maturities, original cost reduced by repayments and adjusted for amortization of premiums or accrual of discounts.

The entire disclosure for the schedule applicable to insurance companies summarizing investments held as of the most recent audited balance sheet. At a minimum, such summary is by three major categories of investments including: (1) fixed maturities primarily consisting of bonds, including convertibles and bonds with warrants, and redeemable preferred stocks, (2) equity securities primarily consisting of common stocks and nonredeemable preferred stocks, and (3) other investments including mortgage loans on real estate, real estate held for investment, real estate acquired in satisfaction of debt, policy loans, other long-term investments, and short-term investments not otherwise categorized. The information provided with respect to each item within each category includes: (A) the original cost of equity securities and, as to fixed maturity securities, original cost reduced by repayments and adjusted for amortization of premiums or accrual of discounts, (B) fair value as of the reporting date, and (C) the amount at which the item within each category is shown in the statement of financial position; with respect to (C), if the amount at which shown in the statement of financial position is different from the items original [amortized] cost or fair value, an explanation of the difference may be included herein.

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