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Comprehensive Income
 12 Months Ended
Dec. 31, 2012
Comprehensive Income [Abstract]  
Comprehensive Income

Note 18 COMPREHENSIVE INCOME

The following table presents the components of the Company's other comprehensive income (loss) for the years ended December 31, 2012, 2011 and 2010 (dollars in thousands):

For the year ended December 31, 2012:Before-Tax Amount Tax (Expense) Benefit After-Tax Amount
         
Foreign currency translation adjustments:        
 Change arising during year$ 57,229 $ (6,244) $ 50,985
 Foreign currency swap  (20,470)   7,165   (13,305)
  Net foreign currency translation adjustments  36,759   921   37,680
Unrealized gains on investments:(1)        
 Unrealized net holding gains arising during the year  786,449   (275,181)   511,268
 Less: Reclassification adjustment for net gains realized in net income  91,327   (31,964)   59,363
 Net unrealized gains  695,122   (243,217)   451,905
Change in unrealized other-than-temporary impairments on fixed         
 maturity securities  9,899   (3,465)   6,434
Unrealized pension and postretirement benefits:        
 Net prior service cost arising during the year  298   (95)   203
 Net loss arising during the period  (8,347)   2,874   (5,473)
  Unrealized pension and postretirement benefits, net  (8,049)   2,779   (5,270)
Other comprehensive income$ 733,731 $ (242,982) $ 490,749

For the year ended December 31, 2011:Before-Tax Amount Tax (Expense) Benefit After-Tax Amount
         
Foreign currency translation adjustments:        
 Change arising during year$ (28,779) $ 121 $ (28,658)
 Foreign currency swap  4,858   (1,700)   3,158
  Net foreign currency translation adjustments  (23,921)   (1,579)   (25,500)
Unrealized gains on investments:(1)        
 Unrealized net holding gains arising during the year  1,118,586   (302,134)   816,452
 Less: Reclassification adjustment for net gains realized in net income  72,841   (25,494)   47,347
 Net unrealized gains  1,045,745   (276,640)   769,105
Change in unrealized other-than-temporary impairments on fixed         
 maturity securities  (1,901)   665   (1,236)
Unrealized pension and postretirement benefits:        
 Net prior service cost arising during the year  460   (185)   275
 Net gain arising during the period  (25,441)   8,766   (16,675)
  Unrealized pension and postretirement benefits, net  (24,981)   8,581   (16,400)
Other comprehensive income$ 994,942 $ (268,973) $ 725,969

For the year ended December 31, 2010:Before-Tax Amount Tax (Expense) Benefit After-Tax Amount
         
Foreign currency translation adjustments:        
 Change arising during year$ 72,989 $ 5,177 $ 78,166
 Foreign currency swap  (41,302)   14,456   (26,846)
  Net foreign currency translation adjustments  31,687   19,633   51,320
Unrealized gains (losses) on investments:        
 Unrealized net holding gains arising during the year  849,226   (279,620)   569,606
 Less: Reclassification adjustment for net losses realized in net income  41,069   (14,374)   26,695
 Net unrealized gains  808,157   (265,246)   542,911
Change in unrealized other-than-temporary impairments on fixed        
 maturity securities  6,279   (2,198)   4,081
Unrealized pension and postretirement benefits:        
 Net prior service cost arising during the year  (321)   108   (213)
 Net loss arising during the period  2,798   (1,019)   1,779
  Unrealized pension and postretirement benefits, net  2,477   (911)   1,566
Other comprehensive income$ 848,600 $ (248,722) $ 599,878
            
(1) Includes cash flow hedges. See Note 5 - "Derivative Instruments" for additional information on cash flow hedges.

A summary of the components of net unrealized appreciation (depreciation) of balances carried at fair value is as follows (dollars in thousands):

For the years ended December 31,2012 2011 2010
Change in net unrealized appreciation (depreciation) on:        
 Fixed maturity securities available-for-sale$ 713,778 $ 1,058,505 $ 813,174
 Other investments(1)  6,181   (7,213)   16,933
Effect on unrealized appreciation on:        
 Deferred policy acquisition costs  (14,938)   (7,448)   (15,671)
Net unrealized appreciation$ 705,021 $ 1,043,844 $ 814,436
          
(1)Includes cash flow hedges. See Note 5 - "Derivative Instruments" for additional information on cash flow hedges.

The balance of and changes in each component of AOCI were as follows (dollars in thousands):
              
    Accumulated  Unrealized     Accumulated
    Currency  Appreciation  Pension and  Other
    Translation  (Depreciation)  Postretirement  Comprehensive
    Adjustments  of Investments  Benefits  Income (Loss)
For the year ended December 31, 2012            
Balance, beginning of year $ 229,795 $ 1,419,318 $ (30,960) $ 1,618,153
Change in foreign currency translation adjustments   37,680   --   --   37,680
Unrealized gain on investments(1)   --   451,905   --   451,905
Change in other-than-temporary impairment losses            
 on fixed maturity securities   --   6,434   --   6,434
Changes in pension and other postretirement            
 plan adjustments   --   --   (5,270)   (5,270)
Balance, end of year $ 267,475 $ 1,877,657 $ (36,230) $ 2,108,902
              
For the year ended December 31, 2011            
Balance, beginning of year $ 255,295 $ 651,449 $ (14,560) $ 892,184
Change in foreign currency translation adjustments   (25,500)   --   --   (25,500)
Unrealized gain on investments(1)   --   769,105   --   769,105
Change in other-than-temporary impairment losses            
 on fixed maturity securities   --   (1,236)   --   (1,236)
Changes in pension and other postretirement            
 plan adjustments   --   --   (16,400)   (16,400)
Balance, end of year $ 229,795 $ 1,419,318 $ (30,960) $ 1,618,153
              
For the year ended December 31, 2010            
Balance, beginning of year $ 203,975 $ 104,457 $ (16,126) $ 292,306
Change in foreign currency translation adjustments   51,320   --   --   51,320
Unrealized gain on investments   --   542,911   --   542,911
Change in other-than-temporary impairment losses            
 on fixed maturity securities   --   4,081   --   4,081
Changes in pension and other postretirement            
 plan adjustments   --   --   1,566   1,566
Balance, end of year $ 255,295 $ 651,449 $ (14,560) $ 892,184
              
(1) Includes cash flow hedges. See Note 5 - "Derivative Instruments" for additional information on cash flow hedges.