Note 5 - Investments (Tables)

3 Months Ended

Mar. 31, 2015

Investments [Abstract]

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

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

	March 31, 2015
(In thousands)	Amortized Cost		Fair Value		Gross Unrealized Gains		Gross Unrealized Losses
Fixed-maturities available for sale:
U.S. government and agency securities	$	5,727	$	5,783	$	56	$	—
State and municipal obligations	17,698		18,971		1,273		—
Corporate bonds and notes	402,308		415,333		13,636		611
RMBS	40,334		41,845		1,511		—
CMBS	67,194		69,373		2,181		2
Other ABS	122,605		122,237		559		927
Foreign government and agency securities	21,174		21,543		576		207
	677,040		695,085		19,792		1,747
Equity securities available for sale (1)	76,900		143,533		66,633		—
Total debt and equity securities	$	753,940	$	838,618	$	86,425	$	1,747

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(1) Comprising broadly diversified domestic equity mutual funds ($143.1 million fair value) and a preferred stock investment in Freddie Mac ($0.4 million fair value).

	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).

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)	March 31, 2015		December 31, 2014
Trading securities:
U.S. government and agency securities	$	135,801	$	134,530
State and municipal obligations	334,052		343,926
Corporate bonds and notes	699,621		708,361
RMBS	86,294		89,810
CMBS	178,563		188,615
Other ABS	55,386		77,755
Foreign government and agency securities	13,731		18,331
Equity securities	71,347		72,256
Total	$	1,574,795	$	1,633,584

Gain (Loss) on Investments [Table Text Block]

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

	Three Months Ended March 31,
(In thousands)	2015			2014
Net realized gains (losses):
Fixed-maturities held to maturity	$	—		$	(9	)
Fixed-maturities available for sale	(51		)	5
Trading securities	(4,568		)	(4,351		)
Other	105			10
Net realized losses on investments	(4,514		)	(4,345		)
Unrealized gains on trading securities	20,701			47,631
Total net gains on investments	16,187			43,286
Net gains (losses) on other financial instruments	592			(318		)
Net gains on investments and other financial instruments	$	16,779		$	42,968

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” aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of the dates indicated:

March 31, 2015: ($ 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
Corporate bonds and notes	22	$	41,307	$	445	1	$	1,024	$	166	23	$	42,331	$	611
CMBS	1	2,057		2		—	—		—		1	2,057		2
Other ABS	21	54,604		817		2	8,418		110		23	63,022		927
Foreign government and agency securities	5	4,706		207		—	—		—		5	4,706		207
Total	49	$	102,674	$	1,471	3	$	9,442	$	276	52	$	112,116	$	1,747

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

Investments Classified by Contractual Maturity Date [Table Text Block]

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

	March 31, 2015
	Available for Sale
(In thousands)	Amortized Cost		Fair Value
Due in one year or less (1)	$	2,262	$	2,297
Due after one year through five years (1)	44,413		44,741
Due after five years through ten years (1)	257,586		263,269
Due after ten years (1)	142,646		151,323
RMBS (2)	40,334		41,845
CMBS (2)	67,194		69,373
Other ABS (2)	122,605		122,237
Total	$	677,040	$	695,085

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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.