Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2012

		Level 1		Level 2		Level 3		Total
December 31, 2012

Fixed maturity securities - available for sale
	U.S. government and government agency securities	$	174,520	$	25,087	$	0	$	199,607
	Fixed maturity securities of states, municipalities and
	political subdivisions		0		1,065,811		0		1,065,811
	Special purpose revenue bonds of states, municipalities
	and political subdivisions		0		2,200,331		0		2,200,331
	Corporate securities		0		1,315,006		164		1,315,170
	Residential mortgage-backed securities		0		664,887		0		664,887
	Commercial mortgage-backed securities		0		524,289		0		524,289
	Asset-backed securities		0		33,275		0		33,275
	Foreign government securities		0		278,411		0		278,411
	Total fixed maturity securities - available for sale		174,520		6,107,097		164		6,281,781
Equity securities - available for sale			284,639		0		0		284,639
Short-term investments*			251,988		111,065		0		363,053
Other investments			20,925		0		0		20,925
Restricted cash and securities			0		2,043		0		2,043
Premium, claims and other receivables			0		68,207		0		68,207
Other assets			0		0		349		349
	Total assets measured at fair value	$	732,072	$	6,288,412	$	513	$	7,020,997
Notes payable*		$	0	$	636,363	$	0	$	636,363
Accounts payable and accrued liabilities - forward contract			0		3,194		0		3,194
Accounts payable and accrued liabilities - earnout liability			0		2,043		7,009		9,052
	Total liabilities measured at fair value	$	0	$	641,600	$	7,009	$	648,609

		Level 1		Level 2		Level 3		Total

December 31, 2011

Fixed maturity securities - available for sale
	U.S. government and government agency securities	$	201,582	$	94,097	$	0	$	295,679
	Fixed maturity securities of states, municipalities and
	political subdivisions		0		1,085,341		0		1,085,341
	Special purpose revenue bonds of states, municipalities
	and political subdivisions		0		1,863,888		0		1,863,888
	Corporate securities		0		846,178		155		846,333
	Residential mortgage-backed securities		0		1,100,086		0		1,100,086
	Commercial mortgage-backed securities		0		256,124		0		256,124
	Asset-backed securities		0		33,731		1,015		34,746
	Foreign government securities		0		236,637		0		236,637
	Total fixed maturity securities - available for sale		201,582		5,516,082		1,170		5,718,834
Fixed maturity securities - held to maturity*			0		163,136		0		163,136
Short-term investments*			67,288		66,629		0		133,917
Other investments			35,720		0		0		35,720
Other assets			0		0		1,516		1,516
	Total assets measured at fair value	$	304,590	$	5,745,847	$	2,686	$	6,053,123
Notes payable*		$	0	$	505,671	$	0	$	505,671

Changes in fair value of level 3 assets

	2012								2011
							Accounts
							payable
	Fixed						and		Fixed
	maturity		Other		Total		accrued		maturity		Other		Total
	securities		assets		assets		liabilities		securities		assets		assets
Balance at beginning of year	$	1,170	$	1,516	$	$2,686	$	0	$	1,438	$	857	$	2,295
Earnout liability		0		0		0		6,968		0		0		0
Settlements		0		(1,863)		(1,863)		0		0		0		0
Sales		0		0		0		0		(283)		0		(283)
Gains (losses) reported in:
Net earnings		(1)		696		695		41		(2)		659		657
Other comprehensive income		10		0		10		0		17		0		17
Transfers out of Level 3		(1,015)		0		(1,015)		0		0		0		0
Balance at December 31	$	164	$	349	$	513	$	7,009	$	1,170	$	1,516	$	2,686

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References+ Details

- Definition

The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 33

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 6

-Footnote 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details