Note 6 - Investments Level 3 (Tables)

9 Months Ended

Sep. 30, 2011

Investments [Abstract]

Total Debt And Equity Securities [Table Text Block]

Our held to maturity and available for sale securities within our investment portfolio consisted of the following as of the dates indicated:

	September 30, 2011
(In thousands)	Amortized Cost		Fair Value		Gross Unrealized Gains		Gross Unrealized Losses
Fixed-maturities held to maturity:
Bonds and notes:
State and municipal obligations	$	4,083	$	4,248	$	174	$	9
	$	4,083	$	4,248	$	174	$	9
Fixed-maturities available for sale:
U.S. government and agency securities	$	10,919	$	13,592	$	2,673	$	—
State and municipal obligations	88,093		81,435		493		7,151
Corporate bonds and notes	17,681		16,952		340		1,069
RMBS	1,994		2,049		61		6
CMBS	1,989		2,000		34		23
Other ABS	1,019		1,184		165		—
Other investments	1,554		1,683		129		—
	$	123,249	$	118,895	$	3,895	$	8,249
Equity securities available for sale (1)	$	159,959	$	163,673	$	4,621	$	907
Total debt and equity securities	$	287,291	$	286,816	$	8,690	$	9,165

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(1) Comprising broadly diversified domestic equity mutual funds ($149.1 million fair value at September 30, 2011) and various preferred and common stocks invested across numerous companies and industries ($14.6 million fair value at September 30, 2011).

	December 31, 2010
(In thousands)	Amortized Cost		Fair Value		Gross Unrealized Gains		Gross Unrealized Losses
Fixed-maturities held to maturity:
Bonds and notes:
State and municipal obligations	$	10,773	$	11,416	$	662	$	19
	$	10,773	$	11,416	$	662	$	19
Fixed-maturities available for sale:
U.S. government and agency securities	$	25,120	$	27,742	$	2,622	$	—
State and municipal obligations	269,185		199,187		272		70,270
Corporate bonds and notes	26,748		26,206		334		876
RMBS	11,952		12,538		600		14
CMBS	3,279		3,310		70		39
Other ABS	2,104		2,226		127		5
Other investments	2,407		2,590		183		—
	$	340,795	$	273,799	$	4,208	$	71,204
Equity securities available for sale (1)	$	160,242	$	184,365	$	24,188	$	65
Total debt and equity securities	$	511,810	$	469,580	$	29,058	$	71,288

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(1) Comprising broadly diversified domestic equity mutual funds ($168.4 million fair value at December 31, 2010) and various preferred and common stocks invested across numerous companies and industries ($16.0 million fair value at December 31, 2010).

Trading Securities (and Certain Trading Assets) [Table Text Block]

The trading securities within our investment portfolio, which are recorded at fair value, consisted of the following as of the dates indicated:

(In thousands)	September 30, 2011		December 31, 2010
Trading securities:
U.S. government and agency securities	$	723,647	$	703,636
State and municipal obligations	1,047,819		983,680
Corporate bonds and notes	749,801		1,034,206
RMBS	1,029,664		953,416
CMBS	225,089		193,244
CDO	5,350		2,406
Other ABS	113,915		132,149
Foreign government securities (1)	100,370		83,508
Hybrid securities	324,577		318,940
Equity securities	157,385		155,636
Other investments	4,544		2,000
Total	$	4,482,161	$	4,562,821

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(1)    As of September 30, 2011, our trading portfolio included no securities of five Eurozone countries (Portugal, Ireland, Italy, Greece and Spain), whose sovereign obligations have been under stress due to economic uncertainty, potential restructuring and ratings downgrades. As of December 31, 2010, our trading portfolio exposure to these nations consisted of $15.5 million of Italian securities.

Schedule Of Unrealized Losses [Table Text Block]

The following tables show the gross unrealized losses and fair value of our investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of the dates indicated:

September 30, 2011: ($ in thousands) Description of Securities	Less Than 12 Months					12 Months or Greater					Total
	# of securities	Fair Value		Unrealized Losses		# of securities	Fair Value		Unrealized Losses		# of securities	Fair Value		Unrealized Losses
State and municipal obligations	—	$	—	$	—	10	$	71,347	$	7,160	10	$	71,347	$	7,160
Corporate bonds and notes	7	2,505		124		19	10,042		945		26	12,547		1,069
RMBS	3	651		6		—	—		—		3	651		6
CMBS	1	598		17		1	105		6		2	703		23
Equity securities	2	9,315		907		—	—		—		2	9,315		907
Total	13	$	13,069	$	1,054	30	$	81,494	$	8,111	43	$	94,563	$	9,165

December 31, 2010: ($ in thousands) Description of Securities	Less Than 12 Months					12 Months or Greater					Total
	# of securities	Fair Value		Unrealized Losses		# of securities	Fair Value		Unrealized Losses		# of securities	Fair Value		Unrealized Losses
State and municipal obligations	6	$	3,507	$	110	26	$	189,194	$	70,179	32	$	192,701	$	70,289
Corporate bonds and notes	31	16,364		852		2	604		24		33	16,968		876
RMBS	1	1,436		14		—	—		—		1	1,436		14
CMBS	3	1,885		39		—	—		—		3	1,885		39
Other ABS	2	802		5		—	—		—		2	802		5
Equity securities	2	205		65		—	—		—		2	205		65
Total	45	$	24,199	$	1,085	28	$	189,798	$	70,203	73	$	213,997	$	71,288

Investments Classified by Contractual Maturity Date [Table Text Block]

.

The contractual maturities of fixed-maturity investments are as follows:

	September 30, 2011
	Held to Maturity				Available for Sale
(In thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less (1)	$	2,413	$	2,504	$	2,095	$	2,011
Due after one year through five years (1)	1,366		1,449		16,746		17,356
Due after five years through ten years (1)	—		—		5,842		5,464
Due after ten years (1)	304		295		93,564		88,831
RMBS (2)	—		—		1,994		2,049
CMBS (2)	—		—		1,989		2,000
Other ABS (2)	—		—		1,019		1,184
Total	$	4,083	$	4,248	$	123,249	$	118,895

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(1) Actual maturities may differ as a result of calls before scheduled maturity.

(2) RMBS, CMBS and Other ABS are shown separately, as they are not due at a single maturity date.