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Investments (Tables)
 3 Months Ended
Mar. 31, 2014
Investments [Line Items]  
Schedule of Held-to-maturity Securities
March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
($ in thousands)
 
Amortized
Cost
 
Net
 Unrealized Gains
 (Losses)
 
Carrying
Value
 
Unrecognized
 Holding
Gains
 
Unrecognized Holding
 Losses
 
Fair
Value
Foreign government
 
$
5,292

 
110

 
5,402

 
150

 
—

 
5,552

Obligations of state and political subdivisions
 
344,360

 
3,475

 
347,835

 
16,472

 
—

 
364,307

Corporate securities
 
21,903

 
(341
)
 
21,562

 
2,902

 
—

 
24,464

Asset-backed securities (“ABS”)
 
3,347

 
(621
)
 
2,726

 
640

 
—

 
3,366

Commercial mortgage-backed securities (“CMBS”)
 
5,353

 
(822
)
 
4,531

 
1,316

 
—

 
5,847

Total HTM fixed income securities
 
$
380,255

 
1,801

 
382,056

 
21,480

 
—

 
403,536

December 31, 2013
 
 
 
 
 
 
 
 
 
 
 
 
($ in thousands)
 
Amortized
Cost
 
Net
 Unrealized Gains
 (Losses)
 
Carrying
Value
 
Unrecognized
 Holding
Gains
 
Unrecognized Holding
 Losses
 
Fair
Value
Foreign government
 
$
5,292

 
131

 
5,423

 
168

 
—

 
5,591

Obligations of state and political subdivisions
 
348,109

 
4,013

 
352,122

 
17,634

 
—

 
369,756

Corporate securities
 
28,174

 
(346
)
 
27,828

 
2,446

 
—

 
30,274

ABS
 
3,413

 
(655
)
 
2,758

 
657

 
—

 
3,415

CMBS
 
5,634

 
(886
)
 
4,748

 
3,197

 
—

 
7,945

Total HTM fixed income securities
 
$
390,622

 
2,257

 
392,879

 
24,102

 
—

 
416,981

 
Schedule Of Available For Sale Securities
March 31, 2014
 
 
 
 
 
 
 
 
($ in thousands)
 
Cost/
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
U.S. government and government agencies
 
$
161,428

 
10,007

 
(370
)
 
171,065

Foreign government
 
31,538

 
912

 
(29
)
 
32,421

Obligations of states and political subdivisions
 
963,237

 
26,617

 
(10,687
)
 
979,167

Corporate securities
 
1,777,186

 
48,305

 
(9,793
)
 
1,815,698

ABS
 
131,386

 
908

 
(360
)
 
131,934

CMBS1
 
172,386

 
4,686

 
(2,256
)
 
174,816

Residential mortgage-backed
securities (“RMBS”)2
 
511,295

 
7,210

 
(7,753
)
 
510,752

AFS fixed income securities
 
3,748,456

 
98,645

 
(31,248
)
 
3,815,853

AFS equity securities
 
162,370

 
35,434

 
(117
)
 
197,687

Total AFS securities
 
$
3,910,826

 
134,079

 
(31,365
)
 
4,013,540

 
December 31, 2013
 
 
 
 
 
 
 
 
($ in thousands)
 
Cost/
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
U.S. government and government agencies
 
$
163,218

 
10,661

 
(504
)
 
173,375

Foreign government
 
29,781

 
906

 
(72
)
 
30,615

Obligations of states and political subdivisions
 
946,455

 
25,194

 
(20,025
)
 
951,624

Corporate securities
 
1,707,928

 
44,004

 
(17,049
)
 
1,734,883

ABS
 
140,430

 
934

 
(468
)
 
140,896

CMBS1
 
172,288

 
2,462

 
(3,466
)
 
171,284

RMBS2
 
515,877

 
7,273

 
(10,291
)
 
512,859

AFS fixed income securities
 
3,675,977

 
91,434

 
(51,875
)
 
3,715,536

AFS equity securities
 
155,350

 
37,517

 
(96
)
 
192,771

Total AFS securities
 
$
3,831,327

 
128,951

 
(51,971
)
 
3,908,307



1 CMBS includes government guaranteed agency securities with a fair value of $24.5 million at March 31, 2014 and $30.0 million at December 31, 2013.
2 RMBS includes government guaranteed agency securities with a fair value of $48.2 million at March 31, 2014 and $55.2 million at December 31, 2013.
Schedule of Fair Value and Gross Pre-Tax Net Unrealized/Unrecognized Loss of Securities by Length of Time
March 31, 2014
 
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
 
$
13,119

 
(370
)
 
—

 
—

Foreign government
 
1,753

 
(9
)
 
2,978

 
(20
)
Obligations of states and political subdivisions
 
373,064

 
(9,984
)
 
20,096

 
(703
)
Corporate securities
 
464,163

 
(8,636
)
 
17,713

 
(1,157
)
ABS
 
23,855

 
(360
)
 
—

 
—

CMBS
 
72,437

 
(1,962
)
 
7,466

 
(294
)
RMBS
 
221,314

 
(7,294
)
 
4,823

 
(459
)
Total fixed income securities
 
1,169,705

 
(28,615
)
 
53,076

 
(2,633
)
Equity securities
 
1,938

 
(117
)
 
—

 
—

Subtotal
 
$
1,171,643

 
(28,732
)
 
53,076

 
(2,633
)

 
 
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
 
$
—

 
—

 
—

 
445

 
(19
)
 
18

ABS
 
—

 
—

 
—

 
2,495

 
(621
)
 
592

Subtotal
 
$
—

 
—

 
—

 
2,940

 
(640
)
 
610

Total AFS and HTM
 
$
1,171,643

 
(28,732
)
 
—

 
56,016

 
(3,273
)
 
610


December 31, 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
 
$
16,955

 
(500
)
 
507

 
(4
)
Foreign government
 
2,029

 
(30
)
 
2,955

 
(42
)
Obligations of states and political subdivisions
 
442,531

 
(19,120
)
 
13,530

 
(905
)
Corporate securities
 
511,100

 
(15,911
)
 
14,771

 
(1,138
)
ABS
 
68,725

 
(468
)
 
—

 
—

CMBS
 
100,396

 
(2,950
)
 
6,298

 
(516
)
RMBS
 
268,943

 
(10,031
)
 
2,670

 
(260
)
Total fixed income securities
 
1,410,679

 
(49,010
)
 
40,731

 
(2,865
)
Equity securities
 
1,124

 
(96
)
 
—

 
—

Subtotal
 
$
1,411,803

 
(49,106
)
 
40,731

 
(2,865
)
 

 
 
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
 
$
65

 
(5
)
 
5

 
441

 
(20
)
 
14

ABS
 
—

 
—

 
—

 
2,490

 
(655
)
 
621

Subtotal
 
65

 
(5
)
 
5

 
2,931

 
(675
)
 
635

Total AFS and HTM
 
$
1,411,868

 
(49,111
)
 
5

 
43,662

 
(3,540
)
 
635

 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)
 
 
March 31, 2014
 
December 31, 2013
Number of
Issues
% of Market/Book
Unrealized/
Unrecognized Loss
 
Number of
Issues
% of
Market/Book
Unrealized/
Unrecognized
Loss
466

80% - 99%
$
31,395

 
556

80% - 99%
$
51,835

—

60% - 79%
—

 
1

60% - 79%
176

—

40% - 59%
—

 
—

40% - 59%
—

—

20% - 39%
—

 
—

20% - 39%
—

—

0% - 19%
—

 
—

0% - 19%
—

 

 
$
31,395

 
 

 
$
52,011

 
Schedule Of Other Investment Portfolio By Strategy And Remaining Commitment Amount Associated With Each Strategy
Other Investments
 
Carrying Value
 
March 31,
2014
($ in thousands)
 
March 31,
2014
 
December 31,
2013
 
Remaining Commitment
Alternative Investments
 
 

 
 

 
 

  Secondary private equity
 
$
23,595

 
25,618

 
6,479

  Private equity
 
21,117

 
20,192

 
9,959

  Energy/power generation
 
17,978

 
17,361

 
6,984

  Mezzanine financing
 
13,831

 
12,738

 
15,038

  Distressed debt
 
10,882

 
11,579

 
2,971

  Real estate
 
10,728

 
11,698

 
10,178

  Venture capital
 
7,019

 
7,025

 
350

Total alternative investments
 
105,150

 
106,211

 
51,959

Other securities
 
1,570

 
1,664

 
597

Total other investments
 
$
106,720

 
107,875

 
52,556
Schedule Of Aggregated Summarized Income Statement Financial Information For Partnerhips In Our Alternative Investment Portfolio
Income Statement Information
 
Quarter ended December 31,
 
($ in millions)
 
2013
 
2012
 
Net investment income
 
$
65.1

 
204.8

 
Realized gains
 
63.3

 
593.4

 
Net change in unrealized appreciation (depreciation)
 
505.9

 
(417.5
)
 
Net income
 
$
634.3

 
380.7

 
Selective’s insurance subsidiaries’ other investments income
 
$
5.2

 
3.6

 
 
Schedule of Net Investment Income earned
 
 
Quarter ended March 31,
 
($ in thousands)
 
2014
 
2013
 
Fixed income securities
 
$
31,028


30,089

 
Equity securities
 
1,449


1,207

 
Short-term investments
 
19


52

 
Other investments
 
5,218


3,602

 
Investment expenses
 
(2,180
)

(2,080
)
 
Net investment income earned
 
$
35,534

 
32,870

 
Schedule of OTTI By Asset Type
First Quarter 2014
 
Gross 
 
Included in Other
Comprehensive
Income (“OCI”)
 
Recognized in
Earnings
($ in thousands) 
 
 
 
AFS securities
 
 
 
 
 
 
    Equity securities
 
$
963

 
—

 
963

Total AFS Securities
 
963

 
—

 
963

OTTI losses
 
$
963

 
—

 
963

 
First Quarter 2013
 
Gross
 
Included in OCI
 
Recognized in Earnings
($ in thousands)
 
 
 
AFS fixed income securities
 
 

 
 

 
 

RMBS
 
$
(22
)
 
(30
)
 
8

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

Equity securities
 
217

 
—

 
217

Total AFS securities
 
195

 
(30
)
 
225

Other investments
 
1,724

 
—

 
1,724

OTTI losses
 
$
1,919

 
(30
)
 
1,949
Schedule of 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)
 
2014
 
2013
Balance, beginning of period
 
$
7,488

 
7,477

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
 
—

 
9

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

 
—

Balance, end of period
 
$
7,488

 
7,486
Schedule of Components of Net Realized Gains Excluding OTTI Charges
 
 
Quarter ended March 31,
($ in thousands)
 
2014
 
2013
HTM fixed income securities
 
 
 
 
Gains
 
$
—

 
—

Losses
 
(11
)
 
(37
)
AFS fixed income securities
 
 

 
 

Gains
 
158

 
951

Losses
 
(112
)
 
(253
)
AFS equity securities
 
 

 
 

Gains
 
8,317

 
5,671

Losses
 
(171
)
 
(168
)
Other investments
 
 
 
 
Gains
 
—

 
—

      Losses
 
—


(860
)
Total other net realized investment gains
 
8,181


5,304

Total OTTI charges recognized in earnings
 
(963
)

(1,949
)
Total net realized gains
 
$
7,218


3,355

 
Held To Maturity Fixed Income 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
 
$
80,337

 
81,332

Due after one year through five years
 
270,608

 
287,045

Due after five years through 10 years
 
31,111

 
35,159

Total HTM fixed income securities
 
$
382,056

 
403,536

 
AFS Fixed Income Securities [Member]
  
Investments [Line Items]  
Schedule Of Fixed Maturity Securities By Contractual Maturities
($ in thousands)
 
Fair Value
Due in one year or less
 
$
425,744

Due after one year through five years
 
1,991,515

Due after five years through 10 years
 
1,345,666

Due after 10 years
 
52,928

Total AFS fixed income securities
 
$
3,815,853