XML 37 R44.htm IDEA: XBRL DOCUMENT v2.4.0.8
Investment Information - Aging of available for sale securities in an unrealized loss position (Details) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2014
Dec. 31, 2013
Available for sale securities:    
Estimated Fair Value - Less than 12 Months $ 4,835,304 $ 6,158,245
Gross Unrealized Losses - Less than 12 Months (91,270) (137,655)
Estimated Fair Value - 12 Months or More 203,184 258,290
Gross Unrealized Losses - 12 Months or More (10,990) (14,713)
Estimated Fair Value - Total 5,038,488 6,416,535
Gross Unrealized Losses - Total (102,260) (152,368)
Fixed maturities and fixed maturities pledged under securities lending agreements
   
Available for sale securities:    
Estimated Fair Value - Less than 12 Months 4,396,014 [1] 5,887,621 [1]
Gross Unrealized Losses - Less than 12 Months (67,378) [1] (115,071) [1]
Estimated Fair Value - 12 Months or More 203,184 [1] 210,974 [1]
Gross Unrealized Losses - 12 Months or More (10,990) [1] (12,029) [1]
Estimated Fair Value - Total 4,599,198 [1] 6,098,595 [1]
Gross Unrealized Losses - Total (78,368) [1] (127,100) [1]
Fixed maturities and fixed maturities pledged under securities lending agreements | Corporate bonds
   
Available for sale securities:    
Estimated Fair Value - Less than 12 Months 1,012,076 [1] 1,183,625 [1]
Gross Unrealized Losses - Less than 12 Months (17,780) [1] (32,837) [1]
Estimated Fair Value - 12 Months or More 40,352 [1] 46,673 [1]
Gross Unrealized Losses - 12 Months or More (2,267) [1] (2,700) [1]
Estimated Fair Value - Total 1,052,428 [1] 1,230,298 [1]
Gross Unrealized Losses - Total (20,047) [1],[2] (35,537) [1]
Fixed maturities and fixed maturities pledged under securities lending agreements | Mortgage backed securities
   
Available for sale securities:    
Estimated Fair Value - Less than 12 Months 434,286 [1] 778,693 [1]
Gross Unrealized Losses - Less than 12 Months (11,841) [1] (20,253) [1]
Estimated Fair Value - 12 Months or More 23,033 [1] 43,634 [1]
Gross Unrealized Losses - 12 Months or More (2,412) [1] (1,956) [1]
Estimated Fair Value - Total 457,319 [1] 822,327 [1]
Gross Unrealized Losses - Total (14,253) [1] (22,209) [1]
Fixed maturities and fixed maturities pledged under securities lending agreements | Municipal bonds
   
Available for sale securities:    
Estimated Fair Value - Less than 12 Months 340,349 [1] 589,009 [1]
Gross Unrealized Losses - Less than 12 Months (3,484) [1] (9,422) [1]
Estimated Fair Value - 12 Months or More 3,741 [1] 6,092 [1]
Gross Unrealized Losses - 12 Months or More (258) [1] (308) [1]
Estimated Fair Value - Total 344,090 [1] 595,101 [1]
Gross Unrealized Losses - Total (3,742) [1] (9,730) [1]
Fixed maturities and fixed maturities pledged under securities lending agreements | Commercial mortgage backed securities
   
Available for sale securities:    
Estimated Fair Value - Less than 12 Months 398,428 [1] 677,617 [1]
Gross Unrealized Losses - Less than 12 Months (8,977) [1] (15,110) [1]
Estimated Fair Value - 12 Months or More 581 [1] 1,612 [1]
Gross Unrealized Losses - 12 Months or More (54) [1] (114) [1]
Estimated Fair Value - Total 399,009 [1] 679,229 [1]
Gross Unrealized Losses - Total (9,031) [1] (15,224) [1]
Fixed maturities and fixed maturities pledged under securities lending agreements | US government and government agencies
   
Available for sale securities:    
Estimated Fair Value - Less than 12 Months 764,802 [1] 1,144,809 [1]
Gross Unrealized Losses - Less than 12 Months (5,932) [1] (11,242) [1]
Estimated Fair Value - 12 Months or More 0 [1] 0 [1]
Gross Unrealized Losses - 12 Months or More 0 [1] 0 [1]
Estimated Fair Value - Total 764,802 [1] 1,144,809 [1]
Gross Unrealized Losses - Total (5,932) [1] (11,242) [1]
Fixed maturities and fixed maturities pledged under securities lending agreements | Non-US government securities
   
Available for sale securities:    
Estimated Fair Value - Less than 12 Months 541,534 [1] 821,506 [1]
Gross Unrealized Losses - Less than 12 Months (10,940) [1] (15,776) [1]
Estimated Fair Value - 12 Months or More 36,298 [1] 24,334 [1]
Gross Unrealized Losses - 12 Months or More (2,038) [1] (3,587) [1]
Estimated Fair Value - Total 577,832 [1] 845,840 [1]
Gross Unrealized Losses - Total (12,978) [1] (19,363) [1]
Fixed maturities and fixed maturities pledged under securities lending agreements | Asset backed securities
   
Available for sale securities:    
Estimated Fair Value - Less than 12 Months 904,539 [1] 692,362 [1]
Gross Unrealized Losses - Less than 12 Months (8,424) [1] (10,431) [1]
Estimated Fair Value - 12 Months or More 99,179 [1] 88,629 [1]
Gross Unrealized Losses - 12 Months or More (3,961) [1] (3,364) [1]
Estimated Fair Value - Total 1,003,718 [1] 780,991 [1]
Gross Unrealized Losses - Total (12,385) [1] (13,795) [1]
Equity securities
   
Available for sale securities:    
Estimated Fair Value - Less than 12 Months 102,589 76,563
Gross Unrealized Losses - Less than 12 Months (6,596) (5,938)
Estimated Fair Value - 12 Months or More 0 0
Gross Unrealized Losses - 12 Months or More 0 0
Estimated Fair Value - Total 102,589 76,563
Gross Unrealized Losses - Total (6,596) (5,938)
Other investments
   
Available for sale securities:    
Estimated Fair Value - Less than 12 Months 156,468 165,891
Gross Unrealized Losses - Less than 12 Months (15,243) (15,775)
Estimated Fair Value - 12 Months or More 0 47,316
Gross Unrealized Losses - 12 Months or More 0 (2,684)
Estimated Fair Value - Total 156,468 213,207
Gross Unrealized Losses - Total (15,243) (18,459)
Short-term investments
   
Available for sale securities:    
Estimated Fair Value - Less than 12 Months 180,233 28,170
Gross Unrealized Losses - Less than 12 Months (2,053) (871)
Estimated Fair Value - 12 Months or More 0 0
Gross Unrealized Losses - 12 Months or More 0 0
Estimated Fair Value - Total 180,233 28,170
Gross Unrealized Losses - Total $ (2,053) $ (871)
[1] In securities lending transactions, the Company receives collateral in excess of the fair value of the fixed maturities and short-term investments pledged. For purposes of this table, the Company has excluded the collateral received and reinvested and included the fixed maturities and short-term investments pledged. See “—Securities Lending Agreements.”
[2] Represents the total other-than-temporary impairments (“OTTI”) recognized in accumulated other comprehensive income (“AOCI”). It does not include the change in fair value subsequent to the impairment measurement date. At March 31, 2014, the net unrealized gain related to securities for which a non-credit OTTI was recognized in AOCI was $4.8 million, compared to a net unrealized gain of $6.0 million at December 31, 2013.