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Investments (Tables)
 12 Months Ended
Dec. 31, 2015
Investments [Abstract]  
Amortized cost, gross unrealized gains and losses and fair value of investment portfolio
The amortized cost, gross unrealized gains and losses and fair value of the investment portfolio as of December 31, 2015 and 2014 are shown below:
December 31, 2015
(In thousands)
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses (1)
 
Fair Value
U.S. Treasury securities and obligations of U.S. government corporations and agencies
 
$
160,393

 
$
2,133

 
$
(1,942
)
 
$
160,584

Obligations of U.S. states and political subdivisions
 
1,766,407

 
33,410

 
(7,290
)
 
1,792,527

Corporate debt securities
 
2,046,697

 
2,836

 
(44,770
)
 
2,004,763

Asset-backed securities
 
116,764

 
56

 
(203
)
 
116,617

Residential mortgage-backed securities
 
265,879

 
161

 
(8,392
)
 
257,648

Commercial mortgage-backed securities
 
237,304

 
162

 
(3,975
)
 
233,491

Collateralized loan obligations
 
61,345

 
3

 
(1,148
)
 
60,200

Debt securities issued by foreign sovereign governments
 
29,359

 
2,474

 
(102
)
 
31,731

Total debt securities
 
4,684,148

 
41,235

 
(67,822
)
 
4,657,561

Equity securities
 
5,625

 
38

 
(18
)
 
5,645

Total investment portfolio
 
$
4,689,773

 
$
41,273

 
$
(67,840
)
 
$
4,663,206


December 31, 2014
 
 
 
 
 
 
 
 
(In thousands)
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses (1)
 
Fair Value
U.S. Treasury securities and obligations of U.S. government corporations and agencies
 
$
349,153

 
$
2,752

 
$
(5,130
)
 
$
346,775

Obligations of U.S. states and political subdivisions
 
844,942

 
12,961

 
(2,761
)
 
855,142

Corporate debt securities
 
2,418,991

 
16,325

 
(10,035
)
 
2,425,281

Asset-backed securities
 
286,260

 
535

 
(140
)
 
286,655

Residential mortgage-backed securities
 
329,983

 
254

 
(9,000
)
 
321,237

Commercial mortgage-backed securities
 
276,215

 
1,221

 
(2,158
)
 
275,278

Collateralized loan obligations
 
61,340

 
—

 
(1,264
)
 
60,076

Debt securities issued by foreign sovereign governments
 
35,630

 
3,540

 
—

 
39,170

Total debt securities
 
4,602,514

 
37,588

 
(30,488
)
 
4,609,614

Equity securities
 
3,003

 
61

 
(9
)
 
3,055

Total investment portfolio
 
$
4,605,517

 
$
37,649

 
$
(30,497
)
 
$
4,612,669

(1)
There were no other-than-temporary impairment losses recorded in other comprehensive income (loss) as of December 31, 2015 and 2014.
Amortized cost and fair values of debt securities by contractual maturity
The amortized cost and fair values of debt securities as of December 31, 2015, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.  Because most asset-backed and mortgage-backed securities and collateralized loan obligations provide for periodic payments throughout their lives, they are listed below in separate categories.
December 31, 2015
 
 
 
 
(In thousands)
 
Amortized Cost
 
Fair Value
Due in one year or less
 
$
280,697

 
$
281,063

Due after one year through five years
 
1,450,854

 
1,450,315

Due after five years through ten years
 
1,207,011

 
1,176,468

Due after ten years
 
1,064,294

 
1,081,759

 
 
4,002,856

 
3,989,605

 
 
 
 
 
Asset-backed securities
 
116,764

 
116,617

Residential mortgage-backed securities
 
265,879

 
257,648

Commercial mortgage-backed securities
 
237,304

 
233,491

Collateralized loan obligations
 
61,345

 
60,200

Total as of December 31, 2015
 
$
4,684,148

 
$
4,657,561
Aging of the fair values of securities in an unrealized loss position
For those securities in an unrealized loss position, the length of time the securities were in such a position, as measured by their month-end fair values, is as follows:
December 31, 2015
 
Less Than 12 Months
 
12 Months or Greater
 
Total
(In thousands)
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
U.S. Treasury securities and obligations of U.S. government corporations and agencies
 
$
60,548

 
$
(1,467
)
 
$
1,923

 
$
(475
)
 
$
62,471

 
$
(1,942
)
Obligations of U.S. states and political subdivisions
 
417,615

 
(6,404
)
 
37,014

 
(886
)
 
454,629

 
(7,290
)
Corporate debt securities
 
1,470,628

 
(38,519
)
 
114,982

 
(6,251
)
 
1,585,610

 
(44,770
)
Asset-backed securities
 
86,604

 
(173
)
 
5,546

 
(30
)
 
92,150

 
(203
)
Residential mortgage-backed securities
 
35,064

 
(312
)
 
209,882

 
(8,080
)
 
244,946

 
(8,392
)
Commercial mortgage-backed securities
 
134,488

 
(2,361
)
 
69,927

 
(1,614
)
 
204,415

 
(3,975
)
Collateralized loan obligations
 
—

 
—

 
51,750

 
(1,148
)
 
51,750

 
(1,148
)
Debt securities issued by foreign sovereign governments
 
4,463

 
(102
)
 
—

 
—

 
4,463

 
(102
)
Equity securities
 
355

 
(8
)
 
171

 
(10
)
 
526

 
(18
)
Total investment portfolio
 
$
2,209,765

 
$
(49,346
)
 
$
491,195

 
$
(18,494
)
 
$
2,700,960

 
$
(67,840
)

December 31, 2014
 
Less Than 12 Months
 
12 Months or Greater
 
Total
(In thousands)
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
U.S. Treasury securities and obligations of U.S. government corporations and agencies
 
$
58,166

 
$
(138
)
 
$
232,351

 
$
(4,992
)
 
$
290,517

 
$
(5,130
)
Obligations of U.S. states and political subdivisions
 
166,408

 
(1,066
)
 
114,465

 
(1,695
)
 
280,873

 
(2,761
)
Corporate debt securities
 
816,555

 
(5,259
)
 
243,208

 
(4,776
)
 
1,059,763

 
(10,035
)
Asset-backed securities
 
54,491

 
(80
)
 
11,895

 
(60
)
 
66,386

 
(140
)
Residential mortgage-backed securities
 
24,168

 
(34
)
 
263,002

 
(8,966
)
 
287,170

 
(9,000
)
Commercial mortgage-backed securities
 
89,301

 
(810
)
 
110,652

 
(1,348
)
 
199,953

 
(2,158
)
Collateralized loan obligations
 
—

 
—

 
60,076

 
(1,264
)
 
60,076

 
(1,264
)
Debt securities issued by foreign sovereign governments
 
—

 
—

 
—

 
—

 
—

 
—

Equity securities
 
167

 
(1
)
 
235

 
(8
)
 
402

 
(9
)
Total investment portfolio
 
$
1,209,256

 
$
(7,388
)
 
$
1,035,884

 
$
(23,109
)
 
$
2,245,140

 
$
(30,497
)
Net investment income
The source of net investment income is as follows:
(In thousands)
 
2015
 
2014
 
2013
Fixed maturities
 
$
105,882

 
$
89,437

 
$
82,168

Equity securities
 
208

 
227

 
229

Cash equivalents
 
191

 
179

 
353

Other
 
455

 
711

 
675

Investment income
 
106,736

 
90,554

 
83,425

Investment expenses
 
(2,995
)
 
(2,907
)
 
(2,686
)
Net investment income
 
$
103,741

 
$
87,647

 
$
80,739
Net realized investment gains (losses), including impairment losses, and change in net unrealized appreciation (depreciation) of investments
The net realized investment gains, including impairment losses, and change in net unrealized gains (losses) of investments are as follows:
(In thousands)
 
2015
 
2014
 
2013
Net realized investment gains on investments:
 
 
 
 
 
 
Fixed maturities
 
$
28,335

 
$
1,000

 
$
3,274

Equity securities
 
26

 
356

 
1,068

Other
 
—

 
1

 
1,389

Total net realized investment gains
 
$
28,361

 
$
1,357

 
$
5,731

 
 
 
 
 
 
 
Change in net unrealized gains (losses):
 
 
 
 
 
 
Fixed maturities
 
$
(33,687
)
 
$
91,718

 
$
(126,020
)
Equity securities
 
(32
)
 
66

 
(153
)
Other
 
—

 
—

 
—

Total (decrease) increase in net unrealized gains/losses
 
$
(33,719
)
 
$
91,784

 
$
(126,173
)
Gross realized gains, gross realized losses and impairment losses
The gross realized gains, gross realized losses and impairment losses are as follows:
(In thousands)
 
2015
 
2014
 
2013
Gross realized gains
 
$
30,039

 
$
4,966

 
$
11,043

Gross realized losses
 
(1,678
)
 
(3,465
)
 
(4,984
)
Other-than-temporary-impairment losses
 
—

 
(144
)
 
(328
)
Net realized gains on securities
 
$
28,361

 
$
1,357

 
$
5,731