FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2014

FAIR VALUE MEASUREMENTS

Schedule of assets measured at fair value on recurring basis

	As of September 30,  2014
	Fair Value Measurements Using
	Quoted Prices in		Significant Other		Significant
	Active Markets for		Observable		Unobservable
	Identical Assets		Inputs		Inputs
(in thousands)	(Level 1)		(Level 2)		(Level 3)		Total
Total trading securities	$	—	$	—	$	—	$	—
Available-for-sale securities
U.S. agency	$	—	$	6,516	$	—	$	6,516
Corporate		—		584,156		—		584,156
Mortgage-backed		—		260,902		—		260,902
ABS/CMBS*		—		138,118		—		138,118
Non-U.S. govt. & agency		—		10,557		—		10,557
U.S. government		—		32,163		—		32,163
Municipal		—		513,118		—		513,118
Equity		419,022		—		—		419,022
Total available-for-sale securities	$	419,022	$	1,545,530	$	—	$	1,964,552
Total	$	419,022	$	1,545,530	$	—	$	1,964,552

*Asset-backed and commercial mortgage-backed

	As of December 31,  2013
	Fair Value Measurements Using
	Quoted Prices in		Significant Other		Significant
	Active Markets for		Observable		Unobservable
	Identical Assets		Inputs		Inputs
(in thousands)	(Level 1)		(Level 2)		(Level 3)		Total
Total trading securities	$	—	$	—	$	—	$	—
Available-for-sale securities
U.S. agency	$	—	$	10,298	$	—	$	10,298
Corporate		—		526,038		—		526,038
Mortgage-backed		—		244,416		—		244,416
ABS/CMBS*		—		106,309		—		106,309
Non-U.S. govt. & agency		—		13,678		—		13,678
U.S. government		—		17,303		—		17,303
Municipal		—		522,010		—		522,010
Equity		418,654		—		—		418,654
Total available-for-sale securities	$	418,654	$	1,440,052	$	—	$	1,858,706
Total	$	418,654	$	1,440,052	$	—	$	1,858,706

*Asset-backed and commercial mortgage-backed