Investments (Tables)

12 Months Ended

Dec. 31, 2014

Investment [Abstract]

Fixed Maturity & Equity Securities Available For Sale

		Cost or		Gross		Gross
		amortized		unrealized		unrealized
		cost		gain		loss		Fair value
December 31, 2014
U.S. government and government agency securities		$	70,279	$	827	$	(137)	$	70,969
Fixed maturity securities of states, municipalities
	and political subdivisions		896,130		58,738		(160)		954,708
Special purpose revenue bonds of states, municipalities
	and political subdivisions		2,246,707		143,291		(986)		2,389,012
Corporate securities			1,251,625		36,759		(11,549)		1,276,835
Residential mortgage-backed securities			805,458		20,215		(3,979)		821,694
Commercial mortgage-backed securities			593,956		19,707		(2,032)		611,631
Asset-backed securities			369,103		316		(2,592)		366,827
Foreign government securities			119,479		767		(1,554)		118,692
	Total fixed maturity securities	$	6,352,737	$	280,620	$	(22,989)	$	6,610,368
Equity securities		$	291,070	$	24,069	$	(18,787)	$	296,352

December 31, 2013
U.S. government and government agency securities		$	91,047	$	2,157	$	(495)	$	92,709
Fixed maturity securities of states, municipalities
	and political subdivisions		941,580		50,885		(5,979)		986,486
Special purpose revenue bonds of states, municipalities
	and political subdivisions		2,240,412		71,541		(46,758)		2,265,195
Corporate securities			1,195,387		40,860		(11,009)		1,225,238
Residential mortgage-backed securities			622,766		15,289		(19,936)		618,119
Commercial mortgage-backed securities			502,069		16,155		(13,336)		504,888
Asset-backed securities			183,660		319		(1,587)		182,392
Foreign government securities			144,566		3,237		(357)		147,446
	Total fixed maturity securities	$	5,921,487	$	200,443	$	(99,457)	$	6,022,473
Equity securities		$	464,388	$	58,842	$	(5,764)	$	517,466

Gross unrealized losses and fair value of all available for sale securities that were in a continuous loss position

				Less than 12 months				12 months or more				Total
						Unrealized				Unrealized				Unrealized
				Fair value		losses		Fair value		losses		Fair value		losses
December 31, 2014
Fixed maturity securities
	U.S. government and government agency
		securities		$	14,813	$	(8)	$	11,236	$	(129)	$	26,049	$	(137)
	Fixed maturity securities of states,
		municipalities and political subdivisions			3,857		(21)		19,337		(139)		23,194		(160)
	Special purpose revenue bonds of states,
		municipalities and political subdivisions			4,041		(19)		100,947		(967)		104,988		(986)
	Corporate securities				393,274		(7,085)		69,662		(4,464)		462,936		(11,549)
	Residential mortgage-backed securities				37,434		(100)		226,256		(3,879)		263,690		(3,979)
	Commercial mortgage-backed securities				5,228		(26)		99,868		(2,006)		105,096		(2,032)
	Asset-backed securities				181,579		(1,245)		78,797		(1,347)		260,376		(2,592)
	Foreign government securities				55,280		(1,498)		7,187		(56)		62,467		(1,554)
Equity securities					111,251		(17,839)		3,934		(948)		115,185		(18,787)
			Total	$	806,757	$	(27,841)	$	617,224	$	(13,935)	$	1,423,981	$	(41,776)

December 31, 2013
Fixed maturity securities
	U.S. government and government agency
		securities		$	23,717	$	(495)	$	-	$	-	$	23,717	$	(495)
	Fixed maturity securities of states,
		municipalities and political subdivisions			136,160		(5,277)		8,997		(702)		145,157		(5,979)
	Special purpose revenue bonds of states,
		municipalities and political subdivisions			684,560		(35,832)		83,228		(10,926)		767,788		(46,758)
	Corporate securities				277,853		(8,202)		35,437		(2,807)		313,290		(11,009)
	Residential mortgage-backed securities				306,874		(15,861)		31,687		(4,075)		338,561		(19,936)
	Commercial mortgage-backed securities				203,347		(12,611)		4,915		(725)		208,262		(13,336)
	Asset-backed securities				126,922		(1,587)		-		-		126,922		(1,587)
	Foreign government securities				78,182		(357)		-		-		78,182		(357)
Equity securities					75,620		(5,437)		7,016		(327)		82,636		(5,764)
			Total	$	1,913,235	$	(85,659)	$	171,280	$	(19,562)	$	2,084,515	$	(105,221)

Amortized cost and fair value of fixed maturity securities investments classified by contractual maturity date

		Cost or amortized cost		Fair value
Due in 1 year or less		$	168,246	$	171,070
Due after 1 year through 5 years			1,150,042		1,177,120
Due after 5 years through 10 years			1,392,501		1,470,264
Due after 10 years through 15 years			875,679		934,490
Due after 15 years			997,752		1,057,272
	Securities with contractual maturities		4,584,220		4,810,216
Mortgage-backed and asset-backed securities			1,768,517		1,800,152
	Total fixed maturity securities	$	6,352,737	$	6,610,368

Sources of net investment income

		2014		2013		2012
Fixed maturity securities		$	210,866	$	212,841	$	221,535
Equity securities			16,555		14,537		3,959
Other			1,434		828		3,476
	Total investment income		228,855		228,206		228,970
Investment expense			(7,235)		(8,024)		(6,336)
	Net investment income	$	221,620	$	220,182	$	222,634

Realized pretax gains (losses) on the sale of investments

			2014		2013		2012
Gains
	Fixed maturity securities		$	9,805	$	20,191	$	32,644
	Equity securities			68,671		20,886		797
	Other investments			-		5,345		2,074
		Total gains		78,476		46,422		35,515
Losses
	Fixed maturity securities			(5,268)		(1,174)		(3,327)
	Equity securities			(6,838)		(3,218)		(1,039)
	Other investments			-		-		(1)
		Total losses		(12,106)		(4,392)		(4,367)
Net
	Fixed maturity securities			4,537		19,017		29,317
	Equity securities			61,833		17,668		(242)
	Other investments			-		5,345		2,073
		Net realized investment gain	$	66,370	$	42,030	$	31,148

Change in Unrealized Gain (Loss) on Investments

		2014		2013		2012
Available for sale fixed maturity securities		$	156,645	$	(324,363)	$	91,947
Equity securities			(47,796)		44,266		8,812
Other investments			-		(2,534)		4,867
	Change in net unrealized investment gains (losses)	$	108,849	$	(282,631)	$	105,626