Note 5 - Investments (Tables)

6 Months Ended

Jun. 30, 2016

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:

	June 30, 2016
(In thousands)	Amortized Cost		Fair Value		Gross Unrealized Gains		Gross Unrealized Losses
Fixed-maturities available for sale:
U.S. government and agency securities	$	110,167	$	114,482	$	4,315	$	—
State and municipal obligations	72,134		79,052		6,918		—
Corporate bonds and notes	1,163,406		1,225,809		63,955		1,552
RMBS	316,533		323,980		7,641		194
CMBS	485,693		501,811		17,061		943
Other ABS	436,535		435,693		1,754		2,596
Foreign government and agency securities	29,712		30,068		680		324
Other investments	500		500		—		—
Total fixed-maturities available for sale	2,614,680		2,711,395		102,324		5,609
Equity securities available for sale	500		500		—		—
Total debt and equity securities	$	2,615,180	$	2,711,895	$	102,324	$	5,609

	December 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	$	13,773	$	13,752	$	—	$	21
State and municipal obligations	36,920		37,900		1,100		120
Corporate bonds and notes	815,024		802,193		4,460		17,291
RMBS	226,744		224,905		625		2,464
CMBS	415,780		406,910		69		8,939
Other ABS	359,452		355,494		16		3,974
Foreign government and agency securities	25,663		24,307		27		1,383
Total fixed-maturities available for sale	1,893,356		1,865,461		6,297		34,192
Equity securities available for sale (1)	75,538		75,430		—		108
Total debt and equity securities	$	1,968,894	$	1,940,891	$	6,297	$	34,300

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(1) Comprising primarily a multi-sector exchange-traded fund.

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)	June 30, 2016		December 31, 2015
Trading securities:
U.S. government and agency securities	$	33,874	$	129,913
State and municipal obligations	299,042		303,946
Corporate bonds and notes	596,018		580,993
RMBS	66,239		72,192
CMBS	107,608		137,678
Other ABS	6,826		16,131
Foreign government and agency securities	13,431		13,268
Equity securities	—		25,016
Total	$	1,123,038	$	1,279,137

Gain (Loss) on Investments [Table Text Block]

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

	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2016		2015				2016			2015
Net realized gains (losses):
Fixed-maturities available for sale	$	1,166	$	(8	)		$	(1,982	)	$	(59	)
Equities available for sale	—		68,723				(170		)	68,723
Trading securities	421		(8,291		)		(1,819		)	(12,859		)
Short-term investments	—		4				(39		)	4
Other gains (losses)	—		1				18			106
Net realized gains (losses) on investments	1,587		60,429			(1)	(3,992		)	55,915			(1)
Unrealized gains (losses) on trading securities	27,678		(31,638		)		62,909			(10,937		)
Total net gains (losses) on investments	29,265		28,791				58,917			44,978
Net gains (losses) on other financial instruments	1,262		(343		)		2,896			249
Net gains (losses) on investments and other financial instruments	$	30,527	$	28,448			$	61,813		$	45,227

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:

June 30, 2016: ($ 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	5	$	10,699	$	63	16	$	28,962	$	1,489	21	$	39,661	$	1,552
RMBS	6	84,687		194		—	—		—		6	84,687		194
CMBS	18	59,486		322		3	17,815		621		21	77,301		943
Other ABS	56	138,443		701		35	90,446		1,895		91	228,889		2,596
Foreign government and agency securities	1	996		4		8	9,723		320		9	10,719		324
Total	86	$	294,311	$	1,284	62	$	146,946	$	4,325	148	$	441,257	$	5,609

December 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
U.S. government and agency securities	1	$	5,752	$	21	—	$	—	$	—	1	$	5,752	$	21
State and municipal obligations	2	11,674		120		—	—		—		2	11,674		120
Corporate bonds and notes	117	510,807		16,773		6	8,700		518		123	519,507		17,291
RMBS	12	168,415		2,464		—	—		—		12	168,415		2,464
CMBS	58	387,268		8,939		—	—		—		58	387,268		8,939
Other ABS	96	284,998		2,559		14	43,225		1,415		110	328,223		3,974
Foreign government and agency securities	18	18,733		1,095		3	2,278		288		21	21,011		1,383
Equity securities	1	74,930		108		—	—		—		1	74,930		108
Total	305	$	1,462,577	$	32,079	23	$	54,203	$	2,221	328	$	1,516,780	$	34,300

Investments Classified by Contractual Maturity Date [Table Text Block]

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

	June 30, 2016
	Available for Sale
(In thousands)	Amortized Cost		Fair Value
Due in one year or less (1)	$	25,974	$	25,768
Due after one year through five years (1)	289,287		295,684
Due after five years through ten years (1)	670,894		700,619
Due after ten years (1)	389,764		427,840
RMBS (2)	316,533		323,980
CMBS (2)	485,693		501,811
Other ABS (2)	436,535		435,693
Total	$	2,614,680	$	2,711,395

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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.