Note 6 - Investments Level 3 (Tables)

12 Months Ended

Dec. 31, 2014

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, 2014
(In thousands)	Amortized Cost		Fair Value		Gross Unrealized Gains		Gross Unrealized Losses
Fixed-maturities available for sale:
U.S. government and agency securities	$	5,709	$	5,751	$	48	$	6
State and municipal obligations	17,727		18,910		1,183		—
Corporate bonds and notes	277,678		284,408		7,288		558
RMBS	41,467		42,520		1,053		—
CMBS	57,358		58,234		876		—
Other ABS	109,420		107,701		8		1,727
Foreign government and agency securities	19,301		19,366		307		242
	$	528,660	$	536,890	$	10,763	$	2,533
Equity securities available for sale (1)	$	76,900	$	143,368	$	66,468	$	—
Total debt and equity securities	$	605,560	$	680,258	$	77,231	$	2,533

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(1) Comprising broadly diversified domestic equity mutual funds ($143.0 million fair value) and a preferred stock investment in Freddie Mac ($0.4 million fair value).

	December 31, 2013
(In thousands)	Amortized Cost		Fair Value		Gross Unrealized Gains		Gross Unrealized Losses
Fixed-maturities held to maturity:
State and municipal obligations	$	358	$	351	$	—	$	7
	$	358	$	351	$	—	$	7
Fixed-maturities available for sale:
U.S. government and agency securities	$	5,636	$	5,697	$	97	$	36
State and municipal obligations	17,924		17,403		24		545
Corporate bonds and notes	11,951		12,045		578		484
	$	35,511	$	35,145	$	699	$	1,065
Equity securities available for sale (1)	$	76,900	$	129,161	$	52,261	$	—
Total debt and equity securities	$	112,769	$	164,657	$	52,960	$	1,072

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(1) Comprising broadly diversified domestic equity mutual funds ($128.3 million fair value) and various preferred and common stocks invested across numerous companies and industries ($0.9 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)	2014		2013
Trading securities:
U.S. government and agency securities	$	134,530	$	240,860
State and municipal obligations	343,926		356,715
Corporate bonds and notes	708,361		868,403
RMBS	89,810		338,776
CMBS	188,615		209,191
Other ABS	77,755		121,399
Foreign government and agency securities	18,331		28,303
Equity securities	72,256		75,094
Total	$	1,633,584	$	2,238,741

Investment Income [Table Text Block]

Net investment income consisted of:

	Year Ended December 31,
(In thousands)	2014			2013			2012
Investment income:
Fixed-maturities	$	62,352		$	66,131		$	66,518
Equity securities	6,287			6,592			7,738
Short-term investments	246			255			304
Other	1,848			1,970			3,913
Gross investment income	70,733			74,948			78,473
Investment expenses	(5,078		)	(6,827		)	(5,794		)
Net investment income	$	65,655		$	68,121		$	72,679

Gain (Loss) on Investments [Table Text Block]

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

	Year Ended December 31,
(In thousands)	2014			2013			2012
Net realized (losses) gains on investments:
Fixed-maturities held to maturity	$	(9	)	$	2		$	37
Fixed-maturities available for sale	(1,599		)	937			2,726
Equities available for sale	—			349			5,070
Trading securities	(6,996		)	7,997			142,502
Short-term investments	1			1			7
Other invested assets	—			8,841			375
Other gains	246			126			—
Net realized (losses) gains on investments	(8,357		)	18,253			150,717
Unrealized gains (losses) on trading securities	92,226			(117,198		)	(36,435		)
Total gains (losses) on investments	$	83,869		$	(98,945	)	$	114,282

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)	2014			2013			2012
Fixed-maturities available for sale:
Proceeds received from redemptions	$	4,985		$	538		$	5,815
Proceeds received from sales	19,672			17,185			30,966
Gross investment gains from sales and redemptions	99			1,078			3,018
Gross investment losses from sales and redemptions	(1,698		)	(141		)	(292		)
Equities available for sale:
Proceeds received from sales and redemptions	—			10,503			31,235
Gross investment gains from sales and redemptions	—			348			5,070

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)	2014			2013			2012
Fixed-maturities:
Unrealized holding gains (losses) arising during the period, net of tax	$	4,531		$	(240	)	$	2,694
Less reclassification adjustment for net (losses) gains included in net income (loss), net of tax	(1,039		)	929			3,395
Net unrealized gains (losses) on investments, net of tax	$	5,570		$	(1,169	)	$	(701	)
Equities:
Unrealized holding gains arising during the period, net of tax	$	9,119		$	19,389		$	9,572
Less reclassification adjustment for net (losses) gains included in net income (loss), net of tax	—			(273		)	3,523
Net unrealized gains on investments, net of tax	$	9,119		$	19,662		$	6,049

Schedule Of Unrealized Losses [Table Text Block]

The following tables show the gross unrealized losses and fair value of our securities deemed “available for sale” and “held to maturity,” 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, 2014: ($ 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
U.S. government and agency securities	—	$	—	$	—	1	$	3,455	$	6	1	$	3,455	$	6
Corporate bonds and notes	24	40,917		410		1	1,027		148		25	41,944		558
Other ABS	34	97,356		1,727		—	—		—		34	97,356		1,727
Foreign government and agency securities	4	6,353		242		—	—		—		4	6,353		242
Total	62	$	144,626	$	2,379	2	$	4,482	$	154	64	$	149,108	$	2,533

December 31, 2013: ($ 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
U.S. government and agency securities	1	$	3,413	$	36	—	$	—	$	—	1	$	3,413	$	36
State and municipal obligations	2	5,961		18		2	5,514		534		4	11,475		552
Corporate bonds and notes	—	—		—		2	2,966		484		2	2,966		484
Total	3	$	9,374	$	54	4	$	8,480	$	1,018	7	$	17,854	$	1,072

Investments Classified by Contractual Maturity Date [Table Text Block]

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

	December 31, 2014
	Available for Sale
(In thousands)	Amortized Cost		Fair Value
Due in one year or less (1)	$	2,247	$	2,295
Due after one year through five years (1)	39,483		39,420
Due after five years through ten years (1)	154,234		155,790
Due after ten years (1)	124,451		130,930
RMBS (2)	41,467		42,520
CMBS (2)	57,358		58,234
Other ABS (2)	109,420		107,701
Total	$	528,660	$	536,890

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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.