XML 36 R24.htm IDEA: XBRL DOCUMENT v3.8.0.1

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2017

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis

Schedule of Quantitative Disclosures of Our Financial Assets That Were Measured At Fair Value

September 30, 2017						Fair Value Measurements Using
($ in thousands)		Assets Measured at Fair Value				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 fixed income securities:
U.S. government and government agencies		$	59,589			24,807			34,782			—
Foreign government		18,799				—			18,799			—
Obligations of states and political subdivisions		1,479,938				—			1,479,938			—
Corporate securities		1,793,834				—			1,793,834			—
CLO and other ABS		753,955				—			753,955			—
CMBS		308,104				—			308,104			—
RMBS		719,213				—			719,213			—
Total AFS fixed income securities		5,133,432				24,807			5,108,625			—
AFS equity securities:
Common stock		160,427				147,279			—			13,148
Preferred stock		14,845				14,845			—			—
Total AFS equity securities		175,272				162,124			—			13,148
Total AFS securities		5,308,704				186,931			5,108,625			13,148
Short-term investments		216,336				216,336			—			—
Total assets measured at fair value		$	5,525,040			403,267			5,108,625			13,148

December 31, 2016						Fair Value Measurements Using
($ in thousands)		Assets Measured at Fair Value				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 fixed income securities:
U.S. government and government agencies		$	77,333			27,520			49,813			—
Foreign government		26,865				—			26,865			—
Obligations of states and political subdivisions		1,379,593				—			1,379,593			—
Corporate securities		1,997,753				—			1,997,753			—
CLO and other ABS		528,960				—			528,960			—
CMBS		256,842				—			256,842			—
RMBS		525,194				—			525,194			—
Total AFS fixed income securities		4,792,540				27,520			4,765,020			—
AFS equity securities:
Common stock		130,608				122,932			—			7,676
Preferred stock		16,145				16,145			—			—
Total AFS equity securities		146,753				139,077			—			7,676
Total AFS securities		4,939,293				166,597			4,765,020			7,676
Short-term investments		221,701				221,701			—			—
Total assets measured at fair value		$	5,160,994			388,298			4,765,020			7,676

¹  There were no transfers of securities between Level 1 and Level 2.

Schedule of Quantitative Information of Our Financial Assets and Liabilities That Were Disclosed at Fair Value

September 30, 2017						Fair Value Measurements Using
($ in thousands)		Assets/ Liabilities Disclosed at Fair Value				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:
Obligations of states and political subdivisions		$	48,123			—			48,123			—
Corporate securities		19,593				—			13,572			6,021
Total HTM fixed income securities		$	67,716			—			61,695			6,021
Financial Liabilities
Long-term debt:
7.25% Senior Notes		$	58,655			—			58,655			—
6.70% Senior Notes		112,312				—			112,312			—
5.875% Senior Notes		187,516				187,516			—			—
1.61% borrowings from FHLBNY		24,630				—			24,630			—
1.56% borrowings from FHLBNY		24,576				—			24,576			—
3.03% borrowings from FHLBI		61,057				—			61,057			—
Total long-term debt		$	468,746			187,516			281,230			—

December 31, 2016						Fair Value Measurements Using
($ in thousands)		Assets/ Liabilities Disclosed at Fair Value				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:
Obligations of states and political subdivisions		$	79,916			—			79,916			—
Corporate securities		24,075				—			16,565			7,510
CMBS		1,220				—			1,220			—
Total HTM fixed income securities		$	105,211			—			97,701			7,510
Financial Liabilities
Long-term debt:
7.25% Senior Notes		$	56,148			—			56,148			—
6.70% Senior Notes		108,333				—			108,333			—
5.875% Senior Notes		176,860				176,860			—			—
1.61% borrowings from FHLBNY		24,286				—			24,286			—
1.56% borrowings from FHLBNY		24,219				—			24,219			—
3.03% borrowings from FHLBI		59,313				—			59,313			—
Total long-term debt		$	449,159			176,860			272,299			—

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13476-108611

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)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13467-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=75026489&loc=d3e13220-108610

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14172-108612

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13433-108611

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring 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=66048111&loc=d3e19190-110258

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration