Accumulated Other Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2015

A reconciliation of the components of accumulated other comprehensive income at December 31 is as follows:

	2015			2014
Investments:
Total unrealized gain before federal income taxes	$	59,883		$	79,753
Deferred tax liability		(20,959	)		(27,913	)
Net unrealized gains on investments		38,924			51,840

Foreign exchange adjustment:
Total unrealized gains (losses)		(1,640	)		600
Deferred tax benefit (liability)		574			(210	)
Net unrealized gains (losses) on foreign exchange adjustment		(1,066	)		390

Accumulated other comprehensive income	$	37,858		$	52,230

Details of changes in net unrealized gains on investments for the years ended December 31 are as follows:

	2015			2014		2013
Investments:
Pre-tax holding gains (losses) on debt and equity
securities arising during period	$	(19,445	)	$	12,055	$	36,477
Less: applicable federal income taxes		(6,806	)		4,220		12,766
		(12,639	)		7,835		23,711

Pre-tax gains on debt and equity securities
included in net income during period		426			7,823		15,520
Less: applicable federal income taxes		149			2,739		5,431
		277			5,084		10,089

Change in unrealized gains on investments	$	(12,916	)	$	2,751	$	13,622

Reconciliation of accumulated other comprehensive income and retained earnings for the years ended December 31 are as follows:

	2015			2014			2013

Beginning accumulated other comprehensive income	$	52,230		$	50,490		$	37,443
Change in foreign exchange adjustment		(1,456	)		(1,011	)		(575	)
Change in unrealized net gains on investments		(12,916	)		2,751			13,622
Ending accumulated other comprehensive income	$	37,858		$	52,230		$	50,490


		2015			2014			2013

Beginning retained earnings	$	294,773		$	280,003		$	258,358
Net income		23,283			29,717			36,588
Dividends		(15,003	)		(14,947	)		(14,943	)
Ending retained earnings	$	303,053		$	294,773		$	280,003