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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |
Schedule of The Carrying Amounts and Estimated Fair Values of Financial Instruments |
|  | September 30, 2014 |  | December 31, 2013
($ in thousands) |  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |
Fixed income securities: |  |  |  |  |  |  |  |  |  |  |  |
HTM |  | $ | 336,082 |  |  | 354,190 |  |  | 392,879 |  |  | 416,981 |
AFS |  | 3,967,638 |  |  | 3,967,638 |  |  | 3,715,536 |  |  | 3,715,536 |
Equity securities, AFS |  | 211,266 |  |  | 211,266 |  |  | 192,771 |  |  | 192,771 |
Short-term investments |  | 181,593 |  |  | 181,593 |  |  | 174,251 |  |  | 174,251 |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Notes payable: |  |  |  |  |  |  |  |  |  |  |  |
2.90% borrowings from FHLBI |  | 13,000 |  |  | 13,085 |  |  | 13,000 |  |  | 13,319 |
1.25% borrowings from FHLBI |  | 45,000 |  |  | 45,220 |  |  | 45,000 |  |  | 45,259 |
7.25% Senior Notes |  | 49,896 |  |  | 56,970 |  |  | 49,916 |  |  | 50,887 |
6.70% Senior Notes |  | 99,398 |  |  | 110,310 |  |  | 99,498 |  |  | 98,247 |
5.875% Senior Notes |  | 185,000 |  |  | 179,598 |  |  | 185,000 |  |  | 146,298 |
Total notes payable |  | $ | 392,294 |  |  | 405,183 |  |  | 392,414 |  |  | 354,010 |
Schedule of Quantitative Disclosures of Our Financial Assets That Were Measured At Fair Value |
September 30, 2014 |  |  |  | Fair Value Measurements Using
($ in thousands) |  | Assets Measured at Fair Value at 9/30/2014 |  | Quoted Prices in Active Markets for Identical Assets/ Liabilities (Level 1)1 |  | Significant Other Observable Inputs (Level 2)1 |  | Significant Unobservable Inputs (Level 3)
Description |  |  |  |  |  |  |  |  |  |  |  |
Measured on a recurring basis: |  |  |  |  |  |  |  |  |  |  |  |
AFS: |  |  |  |  |  |  |  |
U.S. government and government agencies |  | $ | 151,689 |  |  | 51,467 |  |  | 100,222 |  |  | — |
Foreign government |  | 27,867 |  |  | — |  |  | 27,867 |  |  | — |
Obligations of states and political subdivisions |  | 1,229,234 |  |  | — |  |  | 1,229,234 |  |  | — |
Corporate securities |  | 1,763,230 |  |  | — |  |  | 1,763,230 |  |  | — |
ABS |  | 146,966 |  |  | — |  |  | 146,966 |  |  | — |
CMBS |  | 165,518 |  |  | — |  |  | 165,518 |  |  | — |
RMBS |  | 483,134 |  |  | — |  |  | 483,134 |  |  | — |
Total AFS fixed income securities |  | 3,967,638 |  |  | 51,467 |  |  | 3,916,171 |  |  | — |
Equity securities |  | 211,266 |  |  | 208,366 |  |  | — |  |  | 2,900 |
Total AFS Securities |  | 4,178,904 |  |  | 259,833 |  |  | 3,916,171 |  |  | 2,900 |
Short-term investments |  | 181,593 |  |  | 181,593 |  |  | — |  |  | — |
Total assets measured at fair value |  | $ | 4,360,497 |  |  | 441,426 |  |  | 3,916,171 |  |  | 2,900 |
1 | There were no transfers of securities between Level 1 and Level 2.
December 31, 2013 |  |  |  | Fair Value Measurements Using
($ in thousands) |  | Assets Measured at Fair Value at 12/31/13 |  | Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)1 |  | Significant Other Observable Inputs (Level 2)1 |  | Significant Unobservable Inputs (Level 3)
Description |  |  |  |  |  |  |  |  |  |  |  |
Measured on a recurring basis: |  |  |  |  |  |  |  |  |  |  |  |
AFS: |  |  |  |  |  |  |  |
U.S. government and government agencies |  | $ | 173,375 |  |  | 52,153 |  |  | 121,222 |  |  | — |
Foreign government |  | 30,615 |  |  | — |  |  | 30,615 |  |  | — |
Obligations of states and political subdivisions |  | 951,624 |  |  | — |  |  | 951,624 |  |  | — |
Corporate securities |  | 1,734,883 |  |  | — |  |  | 1,734,883 |  |  | — |
ABS |  | 140,896 |  |  | — |  |  | 140,896 |  |  | — |
CMBS |  | 171,284 |  |  | — |  |  | 171,284 |  |  | — |
RMBS |  | 512,859 |  |  | — |  |  | 512,859 |  |  | — |
Total AFS fixed income securities |  | 3,715,536 |  |  | 52,153 |  |  | 3,663,383 |  |  | — |
Equity securities |  | 192,771 |  |  | 189,871 |  |  | — |  |  | 2,900 |
Total AFS Securities |  | 3,908,307 |  |  | 242,024 |  |  | 3,663,383 |  |  | 2,900 |
Short-term investments |  | 174,251 |  |  | 174,251 |  |  | — |  |  | — |
Total assets measured at fair value |  | $ | 4,082,558 |  |  | 416,275 |  |  | 3,663,383 |  |  | 2,900 |
1 | There were no transfers of securities between Level 1 and Level 2.
Schedule of Summary of the Changes in Fair Value of Securities measured Using Level 3 Inputs |
December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |
($ in thousands) |  | Government |  | Corporate |  | ABS |  | CMBS |  | Equity |  | Receivable for Proceeds Related to Sale of Selective HR Solutions ("Selective HR") |  | Total
Fair value, December 31, 2012 |  | $ | 19,789 |  |  | 2,946 |  |  | 6,068 |  |  | 7,162 |  |  | 3,607 |  |  | 2,705 |  |  | 42,277 |
Total net (losses) gains for the period included in: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
OCI 1 |  | (537 | ) |  | (7 | ) |  | (74 | ) |  | 772 |  |  | 3,935 |  |  | — |  |  | 4,089 |
Net income 2,3 |  | (76 | ) |  | — |  |  | — |  |  | 361 |  |  | — |  |  | (1,480 | ) |  | (1,195 | )
Purchases |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Sales |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Issuances |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Settlements |  | (1,847 | ) |  | (168 | ) |  | — |  |  | (2,420 | ) |  | — |  |  | (225 | ) |  | (4,660 | )
Transfers into Level 3 |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Transfers out of Level 3 |  | (17,329 | ) |  | (2,771 | ) |  | (5,994 | ) |  | (5,875 | ) |  | (4,642 | ) |  | (1,000 | ) |  | (37,611 | )
Fair value, December 31, 2013 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,900 |  |  | $ | — |  |  | $ | 2,900 |
1 Amounts are reported in “Unrealized holding (losses) gains arising during period” on the Consolidated Statements of Comprehensive Income in our 2013 Annual Report. 2 Amounts are reported in “Net realized gains” for realized gains and losses and “Net investment income earned” for amortization of securities on the Consolidated Statements of Income in our 2013 Annual Report. 3 For the receivable related to the sale of Selective HR, amounts in "Loss on disposal of discontinued operations, net of tax" relate to an impairment charge and amounts in "Other income" relate to interest accretion on the Consolidated Statements of Income in our 2013 Annual Report.
Schedule of Quantitative Information of Our Financial Assets and Liabilities That Were Disclosed at Fair Value | :
September 30, 2014 |  |  |  | Fair Value Measurements Using
($ in thousands) |  | Assets/ Liabilities Disclosed at Fair Value at 9/30/2014 |  | Quoted Prices in Active Markets for Identical Assets/ Liabilities (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |
HTM: |  |  |  |  |  |  |  |  |  |  |  |
Foreign government |  | $ | 5,407 |  |  | — |  |  | 5,407 |  |  | — |
Obligations of states and political subdivisions |  | 317,609 |  |  | — |  |  | 317,609 |  |  | — |
Corporate securities |  | 22,726 |  |  | — |  |  | 22,726 |  |  | — |
ABS |  | 3,124 |  |  | — |  |  | 3,124 |  |  | — |
CMBS |  | 5,324 |  |  | — |  |  | 5,324 |  |  | — |
Total HTM fixed income securities |  | $ | 354,190 |  |  | — |  |  | 354,190 |  |  | — |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Notes payable: |  |  |  |  |  |  |  |  |  |  |  |
2.90% borrowings from FHLBI |  | $ | 13,085 |  |  | — |  |  | 13,085 |  |  | — |
1.25% borrowings from FHLBI |  | 45,220 |  |  | — |  |  | 45,220 |  |  | — |
7.25% Senior Notes |  | 56,970 |  |  | — |  |  | 56,970 |  |  | — |
6.70% Senior Notes |  | 110,310 |  |  | — |  |  | 110,310 |  |  | — |
5.875% Senior Notes |  | 179,598 |  |  | 179,598 |  |  | — |  |  | — |
Total notes payable |  | $ | 405,183 |  |  | 179,598 |  |  | 225,585 |  |  | — |
December 31, 2013 |  |  |  | Fair Value Measurements Using
($ in thousands) |  | Assets/ Liabilities Disclosed at Fair Value at 12/31/2013 |  | Quoted Prices in Active Markets for Identical Assets/ Liabilities (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |
HTM: |  |  |  |  |  |  |  |  |  |  |
Foreign government |  | $ | 5,591 |  |  | — |  |  | 5,591 |  |  | — |
Obligations of states and political subdivisions |  | 369,756 |  |  | — |  |  | 369,756 |  |  | — |
Corporate securities |  | 30,274 |  |  | — |  |  | 30,274 |  |  | — |
ABS |  | 3,415 |  |  | — |  |  | 3,415 |  |  | — |
CMBS |  | 7,945 |  |  | — |  |  | 7,945 |  |  | — |
Total HTM fixed income securities |  | $ | 416,981 |  |  | — |  |  | 416,981 |  |  | — |
Financial Liabilities |  |  |  |  |  |  |  |  |
Notes payable: |  |  |  |  |  |  |  |  |
2.90% borrowings from FHLBI |  | $ | 13,319 |  |  | — |  |  | 13,319 |  |  | — |
1.25% borrowings from FHLBI |  | 45,259 |  |  | — |  |  | 45,259 |  |  | — |
7.25% Senior Notes |  | 50,887 |  |  | — |  |  | 50,887 |  |  | — |
6.70% Senior Notes |  | 98,247 |  |  | — |  |  | 98,247 |  |  | — |
5.875% Senior Notes |  | 146,298 |  |  | 146,298 |  |  | — |  |  | — |
Total notes payable |  | $ | 354,010 |  |  | 146,298 |  |  | 207,712 |  |  | — |

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- Definition Tabular disclosure of assets and liabilities that are disclosed at fair value. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References No definition available. + Details
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring and/or nonrecurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19279-110258 + Details
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