CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Securities, available-for-sale, at fair value:
Fixed maturities (amortized cost, 2016 - $4,506,178; 2015 - $4,684,148)	$ 4,557,914	$ 4,657,561
Equity securities	6,289	5,645
Total investment portfolio	4,564,203	4,663,206
Cash and cash equivalents	249,898	181,120
Accrued investment income	39,019	40,224
Reinsurance recoverable on loss reserves	41,119	44,487
Reinsurance recoverable on paid losses	3,855	3,319
Premiums receivable	47,185	48,469
Home office and equipment, net	31,047	30,095
Deferred insurance policy acquisition costs	15,946	15,241
Deferred income taxes, net	702,400	762,080
Other assets	78,731	80,102
Total assets	5,773,403	5,868,343
Liabilities:
Loss reserves	1,753,389	1,893,402
Unearned premiums	289,879	279,973
Federal Home Loan Bank advance	155,000	0
Convertible senior notes	685,624	822,301
Convertible junior subordinated debentures	256,872	389,522
Other liabilities	289,240	247,005
Total liabilities	$ 3,430,004	$ 3,632,203
Contingencies
Shareholders' equity:
Common stock (one dollar par value, shares authorized 1,000,000; shares issued 2016 - 341,076; 2015 - 340,097; shares outstanding 2016 - 340,636; 2015 - 339,657)	$ 341,076	$ 340,097
Paid-in capital	1,657,783	1,670,238
Treasury stock at cost (shares - 440)	(3,362)	(3,362)
Accumulated other comprehensive loss, net of tax	(11,336)	(60,880)
Retained earnings	359,238	290,047
Total shareholders’ equity	2,343,399	2,236,140
Total liabilities and shareholders’ equity	$ 5,773,403	$ 5,868,343