Investments (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Unrealized Gains On Investments



($ in thousands)	2014			2013		2012
AFS securities:
Fixed income securities	$	90,336		39,559		165,330
Equity securities	32,389			37,421		18,941
Total AFS securities	122,725			76,980		184,271

HTM securities:
Fixed income securities	958			2,257		3,926
Total HTM securities	958			2,257		3,926

Total net unrealized gains	123,683			79,237		188,197
Deferred income tax expense	(43,289		)	(27,733	)	(65,869	)
Net unrealized gains, net of deferred income tax	80,394			51,504		122,328

Increase (decrease) in net unrealized gains in OCI, net of deferred income tax	$	28,890		(70,824	)	25,080

Schedule of Held-to-maturity Securities



December 31, 2014			Net
			Unrealized			Unrecognized	Unrecognized
	Amortized		Gains		Carrying	Holding	Holding	Fair
($ in thousands)	Cost		(Losses)		Value	Gains	Losses	Value
Foreign government	$	5,292	47		5,339	55	—	5,394
Obligations of state and political subdivisions	285,301		2,071		287,372	11,760	—	299,132
Corporate securities	18,899		(273	)	18,626	2,796	—	21,422
ABS	2,818		(455	)	2,363	460	—	2,823
CMBS	4,869		(432	)	4,437	753	—	5,190
Total HTM fixed income securities	$	317,179	958		318,137	15,824	—	333,961



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



December 31, 2014
	Cost/
	Amortized		Unrealized	Unrealized		Fair
($ in thousands)	Cost		Gains	Losses		Value
U.S. government and government agencies	$	116,666	7,592	(128	)	124,130
Foreign government	27,035		796	—		27,831
Obligations of states and political subdivisions	1,208,776		38,217	(729	)	1,246,264
Corporate securities	1,763,427		42,188	(5,809	)	1,799,806
ABS	176,837		760	(373	)	177,224
CMBS¹	177,932		2,438	(777	)	179,593
RMBS²	505,113		8,587	(2,426	)	511,274
AFS fixed income securities	3,975,786		100,578	(10,242	)	4,066,122
AFS equity securities	159,011		32,721	(332	)	191,400
Total AFS securities	$	4,134,797	133,299	(10,574	)	4,257,522



December 31, 2013
	Cost/
	Amortized		Unrealized	Unrealized		Fair
($ in thousands)	Cost		Gains	Losses		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

¹CMBS includes government guaranteed agency securities with a fair value of $13.2 million at December 31, 2014 and $30.0 million at December 31, 2013.

² RMBS includes government guaranteed agency securities with a fair value of $32.4 million at December 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



December 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	$	7,567	(13	)	10,866	(115	)
Obligations of states and political subdivisions	47,510		(105	)	64,018	(624	)
Corporate securities	276,648		(1,734	)	153,613	(4,075	)
ABS	113,202		(178	)	15,618	(195	)
CMBS	12,799		(34	)	59,219	(743	)
RMBS	3,399		(8	)	138,724	(2,418	)
Total fixed income securities	461,125		(2,072	)	442,058	(8,170	)
Equity securities	5,262		(336	)	—	—
Subtotal	$	466,387	(2,408	)	442,058	(8,170	)



	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	$	196	(3	)	1	—	—		—
ABS	—		—		—	2,235	(455	)	439
Subtotal	$	196	(3	)	1	2,235	(455	)	439
Total AFS and HTM	$	466,583	(2,411	)	1	444,293	(8,625	)	439



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

¹Gross 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 holding 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)
December 31, 2014				December 31, 2013
Number of Issues	% of Market/Book	Unrealized/Unrecognized Loss		Number of Issues	% of Market/Book	Unrealized/ Unrecognized Loss
350	80% - 99%	$	10,596	556	80% - 99%	$	51,835
—	60% - 79%	—		1	60% - 79%	176
—	40% - 59%	—		—	40% - 59%	—
—	20% - 39%	—		—	20% - 39%	—
—	0% - 19%	—		—	0% - 19%	—
		$	10,596			$	52,011

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



Other Investments	Carrying Value			2014
	December 31,		December 31,	Remaining
($ in thousands)	2014		2013	Commitment
Alternative Investments
Secondary private equity	$	21,807	25,618	7,001
Private equity	20,126		20,192	8,890
Energy/power generation	14,445		17,361	21,905
Real estate	11,452		11,698	10,051
Mezzanine financing	9,853		12,738	13,541
Distressed debt	8,679		11,579	2,982
Venture capital	6,606		7,025	350
Total alternative investments	92,968		106,211	64,720
Other securities	6,235		1,664	3,711
Total other investments	$	99,203	107,875	68,431

Schedule of Aggregated Summarized Balance Sheet Financial Information For Partnerhips In Our Alternative Investment Portfolio



Balance Sheet Information
September 30,
($ in millions)	2014		2013
Investments	$	10,096	11,020
Total assets	10,695		11,727
Total liabilities	545		573
Partners’ capital	10,150		11,154

Schedule of Aggregated Summarized Income Statement Financial Information For Partnerhips In Our Alternative Investment Portfolio



Income Statement Information
12 months ended September 30,
($ in millions)	2014		2013	2012
Net investment income	$	226	406	226
Realized gains	581		913	1,015
Net change in unrealized appreciation (depreciation)	1,098		382	(100	)
Net income	$	1,905	1,701	1,141

Insurance Subsidiaries' other investments income	13.6		15.2	9.0

Schedule Of Securities Pledged As Collateral

The following table summarizes the market value of these securities at December 31, 2014:



($ in millions)	FHLBI Collateral		Reinsurance Collateral	State and Regulatory Deposits	Total
U.S. government and government agencies	$	7.7	—	25.3	33.0
Obligations of states and political subdivisions	—		5.7	—	5.7
Corporate securities	—		5.3	—	5.3
ABS	—		1.1	—	1.1
CMBS	2.2		—	—	2.2
RMBS	50.8		2.3	—	53.1
Total pledged as collateral	$	60.7	14.4	25.3	100.4

Schedule of Components of Net Investment Income Earned



($ in thousands)	2014			2013		2012
Fixed income securities	$	126,489		121,582		124,687
Equity securities, dividend income	7,449			6,140		6,215
Short-term investments	66			117		151
Other investments	13,580			15,208		8,996
Investment expenses	(8,876		)	(8,404	)	(8,172	)
Net investment income earned	$	138,708		134,643		131,877

Schedule of OTTI by Asset Type



2014				Recognized in
($ in thousands)	Gross		Included in OCI	Earnings
AFS fixed income securities:
RMBS	$	7	—	7
Total AFS fixed income securities	7		—	7
Equity securities	10,517		—	10,517
Total AFS securities	10,524		—	10,524
Other investments	580		—	580
OTTI losses	$	11,104	—	11,104



2013						Recognized in
($ in thousands)	Gross			Included in OCI		Earnings
HTM fixed income securities:
ABS	$	(44	)	(47	)	3
Total HTM fixed income securities	(44		)	(47	)	3
AFS fixed income securities:
RMBS	16			(30	)	46
Total AFS fixed income securities	16			(30	)	46
Equity securities	3,747			—		3,747
Total AFS securities	3,763			(30	)	3,793
Other investments	1,847			—		1,847
OTTI losses	$	5,566		(77	)	5,643



2012						Recognized in
($ in thousands)	Gross			Included in OCI		Earnings
AFS fixed income securities:
ABS	$	98		—		98
CMBS	(1,525		)	(2,335	)	810
RMBS	(35		)	(218	)	183
Total AFS fixed income securities	(1,462		)	(2,553	)	1,091
Equity securities	3,173			—		3,173
OTTI losses	$	1,711		(2,553	)	4,264

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



($ in thousands)	2014			2013	2012
Balance, beginning of year	$	7,488		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	(2,044		)	—	—
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	875
Accretion of credit loss impairments previously recognized due to an increase in cash flows expected to be collected	—			—	—
Balance, end of year	$	5,444		7,488	7,477

Schedule of Components of Net Realized Gains Excluding OTTI Charges



($ in thousands)	2014			2013		2012
HTM fixed income securities
Gains	$	2		195		194
Losses	(20		)	(95	)	(217	)
AFS fixed income securities
Gains	1,945			3,340		4,452
Losses	(392		)	(373	)	(472	)
AFS equity securities
Gains	36,871			24,776		10,901
Losses	(704		)	(408	)	(1,205	)
Short-term investments
Losses	—			—		(2	)
Other investments
Gains	1			—		1
Losses	—			(1,060	)	(400	)
Total other net realized investment gains	$	37,703		26,375		13,252

Held-to-maturity Securities [Member]

Investment [Line Items]

Schedule Of Fixed Maturity Securities By Contractual Maturities



($ in thousands)	Carrying Value		Fair Value
Due in one year or less	$	113,266	114,795
Due after one year through five years	193,983		206,188
Due after five years through 10 years	10,888		12,978
Total HTM fixed income securities	$	318,137	$	333,961

AFS Fixed Income Securities [Member]

Investment [Line Items]

Schedule Of Fixed Maturity Securities By Contractual Maturities



($ in thousands)	Fair Value
Due in one year or less	$	435,190
Due after one year through five years	1,961,179
Due after five years through 10 years	1,593,287
Due after 10 years	76,466
Total AFS fixed income securities	$	4,066,122