Note 7 - Investments Level 3 (Tables)

12 Months Ended

Dec. 31, 2012

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:

	December 31, 2012
(In thousands)	Amortized Cost		Fair Value		Gross Unrealized Gains		Gross Unrealized Losses
Fixed-maturities held to maturity:
State and municipal obligations	$	679	$	676	$	3	$	6
	$	679	$	676	$	3	$	6
Fixed-maturities available for sale:
U.S. government and agency securities	$	4,969	$	5,305	$	336	$	—
State and municipal obligations	17,922		17,995		116		43
Corporate bonds and notes	15,618		16,369		1,110		359
RMBS	50		51		3		2
Other investments	922		976		54		—
	$	39,481	$	40,696	$	1,619	$	404
Equity securities available for sale (1)	$	88,260	$	112,139	$	23,879	$	—
Total debt and equity securities	$	128,420	$	153,511	$	25,501	$	410

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(1) Comprising broadly diversified domestic equity mutual funds ($98.9 million fair value) and various preferred and common stocks invested across numerous companies and industries ($13.2 million fair value).

	December 31, 2011
(In thousands)	Amortized Cost		Fair Value		Gross Unrealized Gains		Gross Unrealized Losses
Fixed-maturities held to maturity:
State and municipal obligations	$	2,640	$	2,748	$	115	$	7
	$	2,640	$	2,748	$	115	$	7
Fixed-maturities available for sale:
U.S. government and agency securities	$	10,931	$	13,630	$	2,699	$	—
State and municipal obligations	87,083		82,692		485		4,876
Corporate bonds and notes	17,267		16,610		390		1,047
RMBS	1,308		1,360		53		1
CMBS	1,660		1,669		25		16
Other ABS	1,019		1,177		158		—
Other investments	1,489		1,595		106		—
	$	120,757	$	118,733	$	3,916	$	5,940
Equity securities available for sale (1)	$	114,425	$	128,424	$	14,868	$	869
Total debt and equity securities	$	237,822	$	249,905	$	18,899	$	6,816

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(1) Comprising broadly diversified domestic equity mutual funds ($116.0 million fair value) and various preferred and common stocks invested across numerous companies and industries ($12.4 million fair value).

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:

	December 31,
(In thousands)	2012		2011
Trading securities:
U.S. government and agency securities	$	428,519	$	710,006
State and municipal obligations	669,975		964,748
Corporate bonds and notes	1,357,175		683,864
RMBS	663,307		928,887
CMBS	237,294		224,180
CDO	—		5,467
Other ABS	254,102		98,729
Foreign government securities (1)	117,686		102,851
Hybrid securities	211,944		346,338
Equity securities	153,722		140,764
Other investments	898		5,225
Total	$	4,094,622	$	4,211,059

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(1) Our largest concentrations of foreign government securities as of December 31, 2012 and 2011 were Japan ($56.4 million and $28.0 million fair value, respectively) and Germany ($22.1 million and $42.6 million fair value, respectively). As of December 31, 2012 and 2011, nearly all of our foreign government securities were rated A or higher by a nationally recognized statistical rating organization. As of December 31, 2012 and 2011, our trading portfolio included no foreign sovereign or sub-sovereign securities of the six European countries (Portugal, Ireland, Italy, Greece, Spain and Hungary) whose sovereign and sub-sovereign obligations have been under particular stress due to economic uncertainty, potential restructuring and ratings downgrades or securities of any other countries under similar stress.

Investment Income [Table Text Block]

Net investment income consisted of:

	Year Ended December 31,
(In thousands)	2012			2011			2010
Investment income:
Fixed-maturities	$	106,418		$	155,183		$	174,204
Equity securities	10,136			11,559			7,623
Short-term investments	345			611			1,576
Other	5,261			4,017			2,756
Gross investment income	122,160			171,370			186,159
Investment expenses	(7,823		)	(7,850		)	(7,399		)
Net investment income	$	114,337		$	163,520		$	178,760

Gain (Loss) on Investments [Table Text Block]

Net realized and unrealized gains (losses) on investments consisted of:

	Year Ended December 31,
(In thousands)	2012			2011			2010
Net realized gains (losses):
Fixed-maturities held to maturity	$	37		$	491		$	295
Fixed-maturities available for sale	3,556			(52,473		)	(7,661		)
Equities available for sale	5,070			6,228			2,001
Trading securities	224,000			121,393			66,351
Short-term investments	7			(1		)	(67		)
Other invested assets	375			—			388
Net realized gains on investments	233,045			75,638			61,307
Unrealized (losses) gains on trading securities	(49,815		)	126,539			78,637
Unrealized gains on other invested assets	1,658			—			—
Total gains on investments	$	184,888		$	202,177		$	139,944

Available-for-sale Securities, Proceeds and Gains (Losses) [Table Text Block]

The sources of our proceeds and related investment gains (losses) on our available for sale securities are as follows:

	Year Ended December 31,
(In thousands)	2012			2011			2010
Fixed-maturities available for sale:
Proceeds received from redemptions	$	5,909		$	32,214		$	50,846
Proceeds received from sales	79,535			136,217			1,218,460
Gross investment gains from sales and redemptions	4,081			1,577			23,363
Gross investment losses from sales and redemptions	(525		)	(54,050		)	(31,024		)
Equities available for sale:
Proceeds received from sales	31,234			52,014			15,033
Gross investment gains from sales	5,070			6,238			2,006
Gross investment losses from sales	—			(10		)	(5		)

Unrealized Gain (Loss) on Investments [Table Text Block]

The change in unrealized gains (losses) recorded in accumulated other comprehensive income (loss) consisted of the following:

	Year Ended December 31,
(In thousands)	2012			2011			2010
Fixed-maturities:
Unrealized holding gains arising during the period, net of tax	$	4,415		$	11,328		$	23,806
Less reclassification adjustment for net gains (losses) included in net (loss) income, net of tax	5,750			(34,697		)	(4,980		)
Net unrealized (losses) gains on investments, net of tax	$	(1,335	)	$	46,025		$	28,786
Equities:
Unrealized holding gains (losses) arising during the period, net of tax	$	9,717		$	(3,928	)	$	15,080
Less reclassification adjustment for net gains included in net (loss) income, net of tax	3,522			2,769			1,242
Net unrealized gains (losses) on investments, net of tax	$	6,195		$	(6,697	)	$	13,838

Schedule Of Unrealized Losses [Table Text Block]

The following tables show the gross unrealized losses and fair value of our available for sale and held to maturity 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:

December 31, 2012: ($ 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	—	$	—	$	—	2	$	6,004	$	49	2	$	6,004	$	49
Corporate bonds and notes	—	—		—		6	5,329		359		6	5,329		359
RMBS	1	31		2		—	—		—		1	31		2
Total	1	$	31	$	2	8	$	11,333	$	408	9	$	11,364	$	410

December 31, 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	1	$	525	$	17	9	$	72,653	$	4,866	10	$	73,178	$	4,883
Corporate bonds and notes	6	2,457		97		18	8,902		950		24	11,359		1,047
RMBS	2	354		1		—	—		—		2	354		1
CMBS	—	—		—		1	527		16		1	527		16
Equity securities	1	9,284		869		—	—		—		1	9,284		869
Total	10	$	12,620	$	984	28	$	82,082	$	5,832	38	$	94,702	$	6,816

Investments Classified by Contractual Maturity Date [Table Text Block]

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

	December 31, 2012
	Held to Maturity				Available for Sale
(In thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less (1)	$	—	$	—	$	7,139	$	7,184
Due after one year through five years (1)	373		376		11,282		11,518
Due after five years through ten years (1)	—		—		3,048		3,145
Due after ten years (1)	306		300		17,962		18,798
RMBS (2)	—		—		50		51
Total	$	679	$	676	$	39,481	$	40,696

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

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

Investment Holdings, Schedule of Investments [Table Text Block]

At December 31, 2012, investments in any person and its affiliates that exceeded 10% of total stockholders’ equity were as follows:

	Year Ended December 31, 2012
(In thousands) Name	Fixed-Maturities AFS		Equity Securities AFS		Trading Securities		Short-Term Investments		Other Invested Assets		Total
Northern Institutional Treasury Portfolio	$	—	$	—	$	—	$	258,560	$	—	$	258,560
State of Illinois	—		—		138,414		—		—		138,414
Citigroup Inc	3,102		—		131,405		—		—		134,507
BlackRock Liquidity Funds T-Fund Portfolio Money Market	—		—		—		133,391		—		133,391
Bank of America Corp	3,170		10,755		100,499		—		—		114,424
Vanguard Institutional Index Fund	—		98,913		—		—		—		98,913
State of California	—		—		91,269		—		—		91,269
STIT Treasury Portfolio Cash Management Fund	—		—		—		84,018		—		84,018
Federated Treasury Obligations Fund	—		—		—		81,507		—		81,507
Wells Fargo & Co	—		—		81,463		—		—		81,463
Fidelity Institutional Treasury Only Portfolio	—		—		—		80,570		—		80,570
The Royal Bank of Scotland Group plc	—		—		—		—		78,006		78,006
Total	$	6,272	$	109,668	$	543,050	$	638,046	$	78,006	$	1,375,042