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Investments (Tables)
3 Months Ended
Mar. 31, 2012
Investments [Abstract]  
Held-To-Maturity Securities Disclosure
Available-For-Sale Securities Disclosure
Schedule of Fair Value and Gross Pre-Tax Net Unrealized/Unrecognized Loss of Securities by Length of Time
Schedule of the Number of Securities in an Unrealized Unrecognized Loss Position
                     

($ in thousands)

March 31, 2012

December 31, 2011

Number of Issues

% of Market/Book

Unrealized Unrecognized Loss

Number of Issues

% of Market/Book

Unrealized Unrecognized Loss

153

80% - 99%

$

6,071

140

80% - 99%

$

10,166

1

60% - 79%

1,516

-

60% - 79%

-

1

40% - 59%

442

1

40% - 59%

469

-

20% - 39%

-

-

20% - 39%

-

-

0% - 19%

-

-

0% - 19%

-

$

8,029

$

10,635

Schedule of Held-To-Maturity Fixed Maturity Securities By Contractual Maturity

($ in thousands)

Carrying Value

Fair Value

Due in one year or less

$

81,754

86,784

Due after one year through five years

495,428

525,309

Due after five years through 10 years

83,147

91,452

Due after 10 years

6,863

8,186

Total HTM fixed maturity securities

$

667,192

711,731

Schedule of Available-for-Sale Fixed Maturity Securities By Contractual Maturity

($ in thousands)

Fair Value

Due in one year or less

$

321,292

Due after one year through five years

1,876,518

Due after five years through 10 years

810,211

Due after 10 years

26,490

Total AFS fixed maturity securities

$

3,034,511

Schedule of Other Investment Portfolio by Strategy and the Remaining Commitment Amount Associated With Each Strategy
         

Other Investments

Carrying Value

March 31,

March 31,

December 31,

2012 Remaining

($ in thousands)

2012

2011

Commitment

Alternative Investments

     Secondary private equity

$

29,761

30,114

8,590

     Energy/power generation

24,149

25,913

10,420

     Private equity

23,175

21,736

4,389

     Distressed debt

15,081

16,953

3,074

     Real estate

12,825

13,767

10,506

     Mezzanine financing

9,167

8,817

15,256

     Venture capital

7,327

7,248

800

          Total alternative investments

121,485

124,548

53,035

Other securities

3,655

3,753

1,235

Total other investments

$

125,140

128,301

54,270

Schedule of Aggregated Summarized Income Statement Financial Information for Partnerships in our Alternative Investment Portfolio

Income Statement Information

Quarter ended December 31,

($ in millions)

2011

2010

Net investment income

$

36.1 

154.2 

Realized gains (losses)

750.7 

(192.3)

Net change in unrealized (depreciation) appreciation

(487.4)

1,464.2 

Net income

$

299.4 

1,426.1 

Selective's insurance subsidiaries' net income 

$

2.0 

11.6 

Net Investment Income
         

Quarter ended March 31,

($ in thousands)

2012

2011

Fixed maturity securities

$

31,350 

33,123 

Equity securities

1,237 

317 

Short-term investments

38 

62 

Other investments

2,000 

11,641 

Miscellaneous income

39 

25 

Investment expenses

(2,036)

(1,695)

Net investment income earned

$

32,628 

43,473 

OTTI by Asset Type
Gross Credit Loss Impairments on Fixed Maturity Securities for Which a Portion of the OTTI Charge Was Recognized In OCI
       

Quarter ended March 31,

($ in thousands)

2012

2011

Balance, beginning of year

$

6,602

17,723

Addition for the amount related to credit loss for which an OTTI was not previously recognized

-

-

Reductions for securities sold during the period

-

-

Reductions for securities for which the amount previously recognized in OCI was recognized in

  earnings because of intention or potential requirement to sell before recovery of amortized cost

-

-

Reductions for securities for which the entire amount previously recognized in OCI was recognized in

  earnings due to a decrease in cash flows expected

-

(3,582)

Additional increases to the amount related to credit loss for which an OTTI was previously recognized

109

227

Accretion of credit loss impairments previously recognized due to an increase in cash flows expected

  to be collected

-

-

Balance, end of period

$

6,711

14,368

Components of Net Realized Gains Excluding OTTI Charges
             

Quarter ended

March 31,

($ in thousands)

2012

2011

HTM fixed maturity securities

  Gains

$

153

1

  Losses

(81)

(214)

AFS fixed maturity securities

  Gains

405

407

  Losses

(43)

(7)

AFS equity securities

  Gains

4,775

6,203

  Losses

(428)

-

Short-term investments

  Gains

-

-

  Losses

(2)

-

Total other net realized investment gains

4,779

6,390

Total OTTI charges recognized in earnings

(421)

(630)

Total net realized gains (losses)

$

4,358

5,760