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Investments (Tables)
 3 Months Ended
Mar. 31, 2015
Investments [Line Items]  
Schedule of Held-to-maturity Securities
March 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
($ in thousands)
 
Amortized
Cost
 
Net
 Unrealized Gains
 (Losses)
 
Carrying
Value
 
Unrecognized
 Holding
Gains
 
Unrecognized Holding
 Losses
 
Fair
Value
Foreign government
 
$
5,292

 
25

 
5,317

 
21

 
—

 
5,338

Obligations of states and political subdivisions
 
264,788

 
1,706

 
266,494

 
10,536

 
—

 
277,030

Corporate securities
 
18,532

 
(269
)
 
18,263

 
2,936

 
—

 
21,199

Asset-backed securities (“ABS”)
 
2,483

 
(378
)
 
2,105

 
375

 
—

 
2,480

Commercial mortgage-backed securities (“CMBS”)
 
4,764

 
(386
)
 
4,378

 
668

 
—

 
5,046

Total HTM fixed income securities
 
$
295,859

 
698

 
296,557

 
14,536

 
—

 
311,093

December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
($ in thousands)
 
Amortized
Cost
 
Net
 Unrealized Gains
 (Losses)
 
Carrying
Value
 
Unrecognized
 Holding
Gains
 
Unrecognized Holding
 Losses
 
Fair
Value
Foreign government
 
$
5,292

 
47

 
5,339

 
55

 
—

 
5,394

Obligations of states 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

 
Schedule Of Available For Sale Securities
March 31, 2015
 
 
 
 
 
 
 
 
($ in thousands)
 
Cost/
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
U.S. government and government agencies
 
$
112,146

 
7,342

 
(2
)
 
119,486

Foreign government
 
27,030

 
885

 
—

 
27,915

Obligations of states and political subdivisions
 
1,254,037

 
40,872

 
(534
)
 
1,294,375

Corporate securities
 
1,770,747

 
55,057

 
(1,539
)
 
1,824,265

ABS
 
184,278

 
1,214

 
(105
)
 
185,387

CMBS1
 
197,304

 
3,335

 
(128
)
 
200,511

Residential mortgage-backed
securities (“RMBS”)2
 
513,492

 
9,991

 
(1,180
)
 
522,303

AFS fixed income securities
 
4,059,034

 
118,696

 
(3,488
)
 
4,174,242

AFS equity securities
 
199,617

 
15,223

 
(3,269
)
 
211,571

Total AFS securities
 
$
4,258,651

 
133,919

 
(6,757
)
 
4,385,813

 
December 31, 2014
 
 
 
 
 
 
 
 
($ in thousands)
 
Cost/
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
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

 
32,725

 
(336
)
 
191,400

Total AFS securities
 
$
4,134,797

 
133,303

 
(10,578
)
 
4,257,522



1 CMBS includes government guaranteed agency securities with a fair value of $12.9 million at March 31, 2015 and $13.2 million at December 31, 2014.
2 RMBS includes government guaranteed agency securities with a fair value of $29.2 million at March 31, 2015 and $32.4 million at December 31, 2014.
Schedule of Fair Value and Gross Pre-Tax Net Unrealized/Unrecognized Loss of Securities by Length of Time
March 31, 2015
 
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
 
$
—

 
—

 
398

 
(2
)
Obligations of states and political subdivisions
 
75,935

 
(534
)
 
—

 
—

Corporate securities
 
93,912

 
(821
)
 
50,858

 
(718
)
ABS
 
25,684

 
(16
)
 
14,353

 
(89
)
CMBS
 
24,664

 
(55
)
 
15,682

 
(73
)
RMBS
 
50,977

 
(189
)
 
75,521

 
(991
)
Total fixed income securities
 
271,172

 
(1,615
)
 
156,812

 
(1,873
)
Equity securities
 
100,209

 
(3,269
)
 
—

 
—

Subtotal
 
$
371,381

 
(4,884
)
 
156,812

 
(1,873
)

 
 
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
 
197

 
(2
)
 
1

 
—

 
—

 
—

ABS
 
—

 
—

 
—

 
2,003

 
(379
)
 
361

Subtotal
 
$
197

 
(2
)
 
1

 
2,003

 
(379
)
 
361

Total AFS and HTM
 
$
371,578

 
(4,886
)
 
1

 
158,815

 
(2,252
)
 
361


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

 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, 2015
 
December 31, 2014
Number of
Issues
% of Market/Book
Unrealized/
Unrecognized Loss
 
Number of
Issues
% of
Market/Book
Unrealized/
Unrecognized Loss
189

80% - 99%
$
6,776

 
350

80% - 99%
$
10,596

—

60% - 79%
—

 
—

60% - 79%
—

—

40% - 59%
—

 
—

40% - 59%
—

—

20% - 39%
—

 
—

20% - 39%
—

—

0% - 19%
—

 
—

0% - 19%
—

 

 
$
6,776

 
 

 
$
10,596

 
Schedule Of Other Investment Portfolio By Strategy And Remaining Commitment Amount Associated With Each Strategy
Other Investments
 
Carrying Value
 
March 31,
2015
($ in thousands)
 
March 31,
2015
 
December 31,
2014
 
Remaining Commitment
Alternative Investments
 
 

 
 

 
 

  Secondary private equity
 
$
20,208

 
21,807

 
7,040

  Private equity
 
17,519

 
20,126

 
8,879

  Energy/power generation
 
12,393

 
14,445

 
21,905

  Real estate
 
11,986

 
11,452

 
10,016

  Mezzanine financing
 
8,363

 
9,853

 
13,598

  Distressed debt
 
7,569

 
8,679

 
2,982

  Venture capital
 
6,236

 
6,606

 
350

Total alternative investments
 
84,274

 
92,968

 
64,770

Other securities
 
10,746

 
6,235

 
2,001

Total other investments
 
$
95,020

 
99,203

 
66,771
Schedule Of Aggregated Summarized Income Statement Financial Information For Partnerships In Our Alternative Investment Portfolio
Income Statement Information
 
Quarter ended December 31,
 
($ in millions)
 
2014

2013
 
Net investment income
 
$
77.0


65.1

 
Realized gains
 
160.5


63.3

 
Net change in unrealized (depreciation) appreciation
 
(518.0
)

505.9

 
Net (loss) income
 
$
(280.5
)

634.3

 
Selective’s insurance subsidiaries’ other investments (loss) income
 
$
(3.5
)

5.2

 

 
Schedule Of Securities Pledged As Collateral
($ in millions)
 
FHLBI Collateral
 
Reinsurance Collateral
 
State and Regulatory Deposits
 
Total
U.S. government and government agencies
 
$
7.7

 
—

 
25.2

 
32.9

Obligations of states and political subdivisions
 
—

 
5.0

 
—

 
5.0

Corporate securities
 
—

 
4.8

 
—

 
4.8

ABS
 
—

 
1.0

 
—

 
1.0

CMBS
 
1.7

 
—

 
—

 
1.7

RMBS
 
54.6

 
2.2

 
—

 
56.8

Total pledged as collateral
 
$
64.0

 
13.0


25.2


102.2
Schedule of Net Investment Income Earned
 
 
Quarter ended March 31,
 
($ in thousands)
 
2015
 
2014
 
Fixed income securities
 
$
30,967


31,028

 
Equity securities
 
1,792


1,449

 
Short-term investments
 
25


19

 
Other investments
 
(3,540
)

5,218

 
Investment expenses
 
(2,327
)

(2,180
)
 
Net investment income earned
 
$
26,917

 
35,534

 
Schedule of OTTI By Asset Type
First Quarter 2015
 
Gross 
 
Included in Other Comprehensive Income ("OCI")
 
Recognized in
Earnings
($ in thousands) 
 
 
 
AFS fixed income securities
 
 
 
 
 
 
   Corporate securities
 
$
1,009

 
—

 
1,009

   RMBS
 
1

 
—

 
1

Total AFS fixed income securities
 
1,010

 
—

 
1,010

AFS equity securities
 
$
1,084

 
—

 
1,084

OTTI losses
 
$
2,094

 
—

 
2,094

First Quarter 2014

Gross

Included in OCI

Recognized in Earnings
($ in thousands)



AFS securities

 


 


 

     Equity securities

$
963


—


963

OTTI losses

$
963


—


963
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)
 
2015
 
2014
Balance, beginning of period
 
$
5,444

 
7,488

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

 
—

Reductions for securities sold during the period
 
(4,431
)
 
—

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
 
—

 
—

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

 
—

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

 
—

Balance, end of period
 
1,013

 
7,488
Schedule of Components of Net Realized Gains Excluding OTTI Charges
 
 
Quarter ended March 31,
($ in thousands)
 
2015
 
2014
HTM fixed income securities
 
 
 
 
Gains
 
$
—

 
—

Losses
 
(1
)
 
(11
)
AFS fixed income securities
 
 

 
 

Gains
 
1,502

 
158

Losses
 
(112
)
 
(112
)
AFS equity securities
 
 

 
 

Gains
 
21,318

 
8,317

Losses
 
(1,076
)
 
(171
)
Other investments
 
 
 
 
Gains
 
—

 
—

      Losses
 
(654
)

—

Total net realized gains (excluding OTTI charges)
 
$
20,977


8,181

 
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
 
$
124,997

 
126,670

Due after one year through five years
 
160,671

 
171,337

Due after five years through 10 years
 
10,889

 
13,086

Total HTM fixed income securities
 
$
296,557

 
311,093

 
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
 
$
416,983

Due after one year through five years
 
2,067,679

Due after five years through 10 years
 
1,605,398

Due after 10 years
 
84,182

Total AFS fixed income securities
 
$
4,174,242