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Investments (Tables)
 9 Months Ended
Sep. 30, 2013
Investments [Line Items]  
Schedule of Held-to-maturity Securities
September 30, 2013
 
 
 
 
 
 
 
 
 
 
 
 
($ in thousands)
 
Amortized Cost
 
Net
 Unrealized Gains
 (Losses)
 
Carrying
Value
 
Unrecognized
 Holding
Gains
 
Unrecognized Holding
 Losses
 
Fair
Value
Foreign government
 
$
5,292

 
151

 
5,443

 
122

 
—

 
5,565

Obligations of state and political subdivisions
 
372,281

 
4,065

 
376,346

 
19,297

 
—

 
395,643

Corporate securities
 
29,228

 
(466
)
 
28,762

 
3,015

 
—

 
31,777

Asset-backed securities (“ABS”)
 
5,890

 
(755
)
 
5,135

 
776

 
—

 
5,911

Commercial mortgage-backed securities (“CMBS”)
 
7,241

 
(965
)
 
6,276

 
3,357

 
—

 
9,633

Total HTM fixed maturity securities
 
$
419,932

 
2,030

 
421,962

 
26,567

 
—

 
448,529


December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
($ in thousands)
 
Amortized Cost
 
Net
 Unrealized Gains
 (Losses)
 
Carrying
Value
 
Unrecognized
 Holding
Gains
 
Unrecognized Holding
 Losses
 
Fair
Value
Foreign government
 
$
5,292

 
212

 
5,504

 
367

 
—

 
5,871

Obligations of state and political subdivisions
 
491,180

 
6,769

 
497,949

 
28,996

 
(23
)
 
526,922

Corporate securities
 
38,285

 
(812
)
 
37,473

 
4,648

 
—

 
42,121

ABS
 
6,980

 
(1,052
)
 
5,928

 
1,170

 
—

 
7,098

CMBS
 
8,406

 
(1,191
)
 
7,215

 
5,434

 
—

 
12,649

Total HTM fixed maturity securities
 
$
550,143

 
3,926

 
554,069

 
40,615

 
(23
)
 
594,661

 
Schedule Of Available For Sale Securities
September 30, 2013
 
 
 
 
 
 
 
 
($ in thousands)
 
Cost/
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
U.S. government and government agencies
 
$
169,163

 
11,953

 
(330
)
 
180,786

Foreign government
 
28,797

 
996

 
(84
)
 
29,709

Obligations of states and political subdivisions
 
918,403

 
27,705

 
(16,610
)
 
929,498

Corporate securities
 
1,629,698

 
47,932

 
(14,479
)
 
1,663,151

ABS
 
150,179

 
1,063

 
(476
)
 
150,766

CMBS1
 
152,464

 
2,747

 
(3,263
)
 
151,948

Residential mortgage-backed
securities (“RMBS”)2
 
525,047

 
8,932

 
(6,405
)
 
527,574

AFS fixed maturity securities
 
3,573,751

 
101,328

 
(41,647
)
 
3,633,432

AFS equity securities
 
158,323

 
24,061

 
(1,878
)
 
180,506

Total AFS securities
 
$
3,732,074

 
125,389

 
(43,525
)
 
3,813,938

 
December 31, 2012
 
 
 
 
 
 
 
 
($ in thousands)
 
Cost/
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
U.S. government and government agencies
 
$
241,874

 
17,219

 
(1
)
 
259,092

Foreign government
 
28,813

 
1,540

 
(124
)
 
30,229

Obligations of states and political subdivisions
 
773,953

 
44,398

 
(327
)
 
818,024

Corporate securities
 
1,368,954

 
81,696

 
(402
)
 
1,450,248

ABS
 
126,330

 
2,319

 
(9
)
 
128,640

CMBS1
 
133,763

 
4,572

 
(1,216
)
 
137,119

RMBS2
 
456,996

 
15,961

 
(296
)
 
472,661

AFS fixed maturity securities
 
3,130,683

 
167,705

 
(2,375
)
 
3,296,013

AFS equity securities
 
132,441

 
19,400

 
(459
)
 
151,382

Total AFS securities
 
$
3,263,124

 
187,105

 
(2,834
)
 
3,447,395



1 CMBS includes government guaranteed agency securities with a fair value of $35.5 million at September 30, 2013 and $48.9 million at December 31, 2012.
2 RMBS includes government guaranteed agency securities with a fair value of $61.4 million at September 30, 2013 and $91.0 million at December 31, 2012.
Schedule of Fair Value and Gross Pre-Tax Net Unrealized/Unrecognized Loss of Securities by Length of Time
September 30, 2013
 
Less than 12 months
 
12 months or longer
($ in thousands)
 
Fair Value
 
Unrealized
Losses1
 
Fair Value
 
Unrealized
Losses1
AFS securities
 
 

 
 

 
 

 
 

U.S. government and government agencies
 
$
13,173

 
(327
)
 
510

 
(3
)
Foreign government
 
1,056

 
(12
)
 
2,925

 
(72
)
Obligations of states and political subdivisions
 
417,866

 
(16,610
)
 
—

 
—

Corporate securities
 
422,816

 
(14,200
)
 
3,837

 
(279
)
ABS
 
87,786

 
(471
)
 
302

 
(5
)
CMBS
 
69,322

 
(2,771
)
 
2,030

 
(492
)
RMBS
 
202,428

 
(6,231
)
 
1,579

 
(174
)
Total fixed maturity securities
 
1,214,447

 
(40,622
)
 
11,183

 
(1,025
)
Equity securities
 
35,275

 
(1,878
)
 
—

 
—

Subtotal
 
$
1,249,722

 
(42,500
)
 
11,183

 
(1,025
)
 
 
 
Less than 12 months
 
12 months or longer
($ in thousands)
 
Fair
Value
 
Unrealized
Losses1
 
Unrecognized
Gains2
 
Fair
Value
 
Unrealized
Losses1
 
Unrecognized
Gains2
HTM securities
 
 

 
 

 
 

 
 

 
 

 
 

Obligations of states and political subdivisions
 
$
492

 
(20
)
 
19

 
571

 
(24
)
 
17

ABS
 
—

 
—

 
—

 
2,476

 
(690
)
 
642

Subtotal
 
$
492

 
(20
)
 
19

 
3,047

 
(714
)
 
659

Total AFS and HTM
 
$
1,250,214

 
(42,520
)
 
19

 
14,230

 
(1,739
)
 
659


December 31, 2012
 
Less than 12 months
 
12 months or longer
($ in thousands)
 
Fair
Value
 
Unrealized
Losses1
 
Fair Value
 
Unrealized
Losses1
AFS securities
 
 

 
 

 
 

 
 

U.S. government and government agencies
 
$
518

 
(1
)
 
—

 
—

Foreign government
 
—

 
—

 
2,871

 
(124
)
Obligations of states and political subdivisions
 
32,383

 
(327
)
 
—

 
—

Corporate securities
 
50,880

 
(402
)
 
—

 
—

ABS
 
9,137

 
(9
)
 
—

 
—

CMBS
 
7,637

 
(19
)
 
11,830

 
(1,197
)
RMBS
 
8,710

 
(59
)
 
5,035

 
(237
)
Total fixed maturity securities
 
109,265

 
(817
)
 
19,736

 
(1,558
)
Equity securities
 
15,901

 
(459
)
 
—

 
—

Subtotal
 
$
125,166

 
(1,276
)
 
19,736

 
(1,558
)
 

 
 
Less than 12 months
 
12 months or longer
($ in thousands)
 
Fair
Value
 
Unrealized
Losses1
 
Unrecognized
Gains2
 
Fair
Value
 
Unrealized
Losses1
 
Unrecognized
Gains2
HTM securities
 
 

 
 

 
 

 
 

 
 

 
 

Obligations of states and political subdivisions
 
$
1,218

 
(33
)
 
29

 
1,108

 
(47
)
 
38

ABS
 
—

 
—

 
—

 
2,860

 
(840
)
 
753

Subtotal
 
1,218

 
(33
)
 
29

 
3,968

 
(887
)
 
791

Total AFS and HTM
 
$
126,384

 
(1,309
)
 
29

 
23,704

 
(2,445
)
 
791

 1 Gross unrealized losses include non-OTTI unrealized amounts and OTTI losses recognized in AOCI.  In addition, this column includes remaining unrealized gain or loss amounts on securities that were transferred to an HTM designation in the first quarter of 2009 for those securities that are in a net unrealized/unrecognized loss position.
2 Unrecognized gains represent fair value fluctuations from the later of:  (i) the date a security is designated as HTM; or (ii) the date that an OTTI charge is recognized on an HTM security.
Schedule Of The Number Of Securities In An Unrealized Unrecognized Loss Position

($ in thousands)
 
 
September 30, 2013
 
December 31, 2012
Number of
Issues
% of Market/Book
Unrealized/
Unrecognized Loss
 
Number of
Issues
% of
Market/Book
Unrealized/
Unrecognized
Loss
501

80% - 99%
$
43,295

 
100

80% - 99%
$
2,701

—

60% - 79%
—

 
1

60% - 79%
233

1

40% - 59%
286

 
—

40% - 59%
—

—

20% - 39%
—

 
—

20% - 39%
—

—

0% - 19%
—

 
—

0% - 19%
—

 

 
$
43,581

 
 

 
$
2,934

 
Schedule Of Other Investment Portfolio By Strategy And Remaining Commitment Amount Associated With Each Strategy
Other Investments
 
Carrying Value
 
September 30,
2013
($ in thousands)
 
September 30,
2013
 
December 31,
2012
 
Remaining Commitment
Alternative Investments
 
 

 
 

 
 

  Secondary private equity
 
$
25,954

 
28,032

 
7,703

  Private equity
 
18,951

 
18,344

 
10,502

  Energy/power generation
 
17,049

 
18,640

 
7,076

  Mezzanine financing
 
12,921

 
12,692

 
18,796

  Real estate
 
12,385

 
11,751

 
10,205

  Distressed debt
 
11,911

 
12,728

 
2,964

  Venture capital
 
7,018

 
7,477

 
400

Total alternative investments
 
106,189

 
109,664

 
57,646

Other securities
 
1,884

 
4,412

 
1,289

Total other investments
 
$
108,073

 
114,076

 
58,935
Schedule Of Aggregated Summarized Income Statement Financial Information For Partnerhips In Our Alternative Investment Portfolio
Income Statement Information
 
Quarter ended June 30,
 
Nine Months ended June 30,
($ in millions)
 
2013
 
2012
 
2013
 
2012
Net investment income
 
$
97.8

 
80.0

 
352.8

 
170.1

Realized gains
 
162.8

 
19.6

 
762.5

 
1,004.9

Net change in unrealized depreciation
 
104.8

 
(117.1
)
 
85.9

 
(551.1
)
Net income (loss)
 
$
365.4

 
(17.5
)
 
1,201.2

 
623.9

Selective’s insurance subsidiaries’ other investments income
 
$
2.6

 
0.5

 
10.1

 
5.5

 
Schedule of Net Investment Income earned
 
 
Quarter ended September 30,
 
Nine Months ended September 30,
($ in thousands)
 
2013
 
2012
 
2013
 
2012
Fixed maturity securities
 
$
30,569


30,839

 
90,956

 
93,948

Equity securities
 
1,341


1,268

 
4,422

 
3,785

Short-term investments
 
21


36

 
102

 
103

Other investments
 
2,639


497

 
10,110

 
5,460

Miscellaneous income
 
—


41

 
—

 
105

Investment expenses
 
(2,113
)

(2,031
)
 
(6,260
)
 
(6,117
)
Net investment income earned
 
$
32,457

 
30,650

 
99,330

 
97,284
OTTI By Asset Type
Third Quarter 2013
 
Gross 
 
Included in Other
Comprehensive
Income (“OCI”)
 
Recognized in
Earnings
($ in thousands) 
 
 
 
Equity securities
 
$
680

 
—

 
680

OTTI losses
 
$
680

 
—

 
680

 
Third Quarter 2012
 
Gross
 
Included in OCI
 
Recognized in Earnings
($ in thousands)
 
 
 
AFS fixed maturity securities
 
 

 
 

 
 

ABS
 
$
36

 
—

 
36

CMBS
 
(1,504
)
 
(2,023
)
 
519

Total AFS fixed maturities
 
(1,468
)
 
(2,023
)
 
555

Equity securities
 
2,389

 
—

 
2,389

OTTI losses
 
$
921

 
(2,023
)
 
2,944


Nine Months 2013
 
Gross 
 
Included in OCI
 
Recognized in
Earnings
($ in thousands) 
 
 
 
HTM fixed maturity securities:
 
 
 
 
 
 
ABS
 
$
(44
)
 
(47
)
 
3

Total HTM fixed maturity securities
 
(44
)
 
(47
)
 
3

AFS fixed maturity securities:
 
 

 
 

 
 

RMBS
 
(22
)
 
(30
)
 
8

Total AFS fixed maturity securities
 
(22
)
 
(30
)
 
8

Equity securities
 
1,326

 
—

 
1,326

Total AFS securities
 
1,304

 
(30
)
 
1,334

Other investments
 
1,847

 
—

 
1,847

OTTI losses
 
$
3,107

 
(77
)
 
3,184


Nine Months 2012
 
Gross 
 
Included in OCI
 
Recognized in
Earnings
($ in thousands) 
 
 
 
AFS fixed maturity securities
 
 

 
 

 
 

ABS
 
$
98

 
—

 
98

CMBS
 
(1,396
)
 
(2,023
)
 
627

RMBS
 
(44
)
 
(218
)
 
174

Total AFS fixed maturity securities
 
(1,342
)
 
(2,241
)
 
899

Equity securities
 
2,560

 
—

 
2,560

OTTI losses
 
$
1,218

 
(2,241
)
 
3,459
Gross Credit Loss Impairments on Fixed Maturity Securities for Which a Portion of the OTTI Charge was Recognized in OCI
 
 
Quarter ended September 30,
($ in thousands)
 
2013
 
2012
Balance, beginning of period
 
$
7,488

 
6,775

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
 
—

 
—

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

 
519

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

 
—

Balance, end of period
 
$
7,488

 
7,294


 
 
Nine Months ended September 30,
($ in thousands)
 
2013
 
2012
Balance, beginning of period
 
$
7,477

 
6,602

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
 
—

 
—

Additional increases to the amount related to credit loss for which an OTTI was previously recognized
 
11

 
692

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

 
—

Balance, end of period
 
$
7,488

 
7,294
Components of Net Realized Gains Excluding OTTI Charges
 
 
Quarter ended September 30,
 
Nine Months ended September 30,
($ in thousands)
 
2013
 
2012
 
2013
 
2012
HTM fixed maturity securities
 
 
 
 
 
 
 
 
Gains
 
$
32

 
40

 
35

 
195

Losses
 
(37
)
 
(90
)
 
(86
)
 
(196
)
AFS fixed maturity securities
 
 

 
 

 
 
 
 
Gains
 
662

 
2,168

 
2,580

 
2,941

Losses
 
(31
)
 
(262
)
 
(330
)
 
(379
)
AFS equity securities
 
 

 
 

 
 
 
 
Gains
 
13,801

 
—

 
24,272

 
4,775

Losses
 
(236
)
 
—

 
(407
)
 
(428
)
Short-term investments
 
 

 
 

 
 
 
 
Losses
 
—

 
—

 
—

 
(2
)
Other Investments
 
 
 
 
 
 
 
 
Gains
 
—

 
—

 
—

 
1

      Losses
 
(80
)

—

 
(940
)
 
—

Total other net realized investment gains
 
14,111


1,856

 
25,124

 
6,907

Total OTTI charges recognized in earnings
 
(680
)

(2,944
)
 
(3,184
)
 
(3,459
)
Total net realized gains (losses)
 
$
13,431


(1,088
)
 
21,940

 
3,448

 
Held To Maturity Fixed Maturity Securities [Member]
  
Investments [Line Items]  
Schedule Of Fixed Maturity Securities By Contractual Maturities
($ in thousands)
 
Carrying Value
 
Fair Value
Due in one year or less
 
$
72,099

 
74,953

Due after one year through five years
 
312,318

 
331,927

Due after five years through 10 years
 
34,747

 
38,176

Due after 10 years
 
2,798

 
3,473

Total HTM fixed maturity securities
 
$
421,962

 
448,529

 
AFS Fixed Maturity Securities [Member]
  
Investments [Line Items]  
Schedule Of Fixed Maturity Securities By Contractual Maturities
($ in thousands)
 
Fair Value
Due in one year or less
 
$
324,743

Due after one year through five years
 
1,951,770

Due after five years through 10 years
 
1,329,795

Due after 10 years
 
27,124

Total AFS fixed maturity securities
 
$
3,633,432