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Investments (Tables)
 3 Months Ended
Mar. 31, 2015
Investments [Abstract]  
Amortized cost, gross unrealized gains and losses and fair value of investments portfolio
The amortized cost, gross unrealized gains and losses and fair value of the investment portfolio at March 31, 2015 and December 31, 2014 are shown below.
 
  
Amortized Cost
  
Gross Unrealized Gains
  
Gross Unrealized Losses (1)
  
Fair Value
 
March 31, 2015
 
(In thousands)
 
         
U.S. Treasury securities and obligations of U.S. government corporations and   agencies
 
$
312,233
  
$
2,629
  
$
(2,057
)
 
$
312,805
 
Obligations of U.S. states and political subdivisions
  
937,548
   
16,621
   
(1,466
)
  
952,703
 
Corporate debt securities
  
2,394,862
   
18,939
   
(5,785
)
  
2,408,016
 
Asset-backed securities
  
253,185
   
769
   
(35
)
  
253,919
 
Residential mortgage-backed securities
  
315,778
   
719
   
(7,466
)
  
309,031
 
Commercial mortgage-backed securities
  
259,934
   
1,804
   
(1,132
)
  
260,606
 
Collateralized loan obligations
  
61,341
   
-
   
(797
)
  
60,544
 
Debt securities issued by foreign sovereign governments
  
32,992
   
4,047
   
-
   
37,039
 
Total debt securities
  
4,567,873
   
45,528
   
(18,738
)
  
4,594,663
 
Equity securities
  
3,021
   
85
   
(6
)
  
3,100
 
                 
Total investment portfolio
 
$
4,570,894
  
$
45,613
  
$
(18,744
)
 
$
4,597,763
 

  
Amortized Cost
  
Gross Unrealized Gains
  
Gross Unrealized Losses (1)
  
Fair Value
 
December 31, 2014
 
(In thousands)
 
         
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)
At March 31, 2015 and December 31, 2014, there were no other-than-temporary impairment losses recorded in other comprehensive income.
Amortized cost and fair values of debt securities by contractual maturity
The amortized cost and fair values of debt securities at March 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.

  
Amortized Cost
  
Fair Value
 
March 31, 2015
 
(In thousands)
 
     
Due in one year or less
 
$
301,142
  
$
301,873
 
Due after one year through five years
  
1,806,892
   
1,823,593
 
Due after five years through ten years
  
1,127,078
   
1,133,449
 
Due after ten years
  
442,523
   
451,648
 
         
  
$
3,677,635
  
$
3,710,563
 
         
Asset-backed securities
  
253,185
   
253,919
 
Residential mortgage-backed securities
  
315,778
   
309,031
 
Commercial mortgage-backed securities
  
259,934
   
260,606
 
Collateralized loan obligations
  
61,341
   
60,544
 
         
Total at March 31, 2015
 
$
4,567,873
  
$
4,594,663
 
Aging of the fair values of securities in an unrealized loss position
At March 31, 2015 and December 31, 2014, the investment portfolio had gross unrealized losses of $18.7 million and $30.5 million, respectively.  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:
 
  
Less Than 12 Months
  
12 Months or Greater
  
Total
 
March 31, 2015
 
Fair Value
  
Unrealized Losses
  
Fair Value
  
Unrealized Losses
  
Fair Value
  
Unrealized Losses
 
  
(In thousands)
 
U.S. Treasury securities and obligations of U.S. government corporations and   agencies
 
$
93,555
  
$
362
  
$
26,435
  
$
1,695
  
$
119,990
  
$
2,057
 
Obligations of U.S. states and political   subdivisions
  
174,785
   
695
   
50,757
   
771
   
225,542
   
1,466
 
Corporate debt securities
  
621,952
   
4,169
   
113,002
   
1,616
   
734,954
   
5,785
 
Asset-backed securities
  
34,294
   
10
   
11,930
   
26
   
46,224
   
36
 
Residential mortgage-backed securities
  
34,574
   
168
   
229,563
   
7,298
   
264,137
   
7,466
 
Commercial mortgage-backed securities
  
61,443
   
304
   
71,895
   
828
   
133,338
   
1,132
 
Collateralized loan obligations
  
-
   
-
   
60,544
   
797
   
60,544
   
797
 
Equity securities
  
68
   
-
   
177
   
5
   
245
   
5
 
                         
Total investment portfolio
 
$
1,020,671
  
$
5,708
  
$
564,303
  
$
13,036
  
$
1,584,974
  
$
18,744
 

  
Less Than 12 Months
  
12 Months or Greater
  
Total
 
December 31, 2014
 
Fair Value
  
Unrealized Losses
  
Fair Value
  
Unrealized Losses
  
Fair Value
  
Unrealized Losses
 
  
(In thousands)
 
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
 
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 realized investment gains (losses) and OTTI on investments
The net realized investment gains (losses) and OTTI on the investment portfolio are as follows:

  
Three Months Ended
March 31,
 
  
2015
  
2014
 
  
(In thousands)
 
     
Net realized investment gains (losses) and OTTI on investments:
    
Fixed maturities
 
$
26,324
  
$
(234
)
Equity securities
  
3
   
3
 
  
$
26,327
  
$
(231
)

  
Three Months Ended
March 31,
 
  
2015
  
2014
 
  
(In thousands)
 
     
Net realized investment gains (losses) and OTTI on investments:
    
Gains on sales
 
$
27,206
  
$
805
 
Losses on sales
  
(879
)
  
(1,036
)
  
$
26,327
  
$
(231
)