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Fair Value Measurement (Tables) | 6 Months Ended
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Jun. 30, 2015
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] |
Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Valuation Techniques | The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value:
| June 30, 2015
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (Amounts in thousands)
Assets |  |  |  |  |  |  |
Fixed maturity securities: |  |  |  |  |  |  |
U.S. government bonds and agencies | $ | 24,783 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 24,783 |
Municipal securities | 0 |  |  | 2,486,708 |  |  | 0 |  |  | 2,486,708 |
Mortgage-backed securities | 0 |  |  | 59,091 |  |  | 0 |  |  | 59,091 |
Corporate securities | 0 |  |  | 269,384 |  |  | 0 |  |  | 269,384 |
Collateralized loan obligations | 0 |  |  | 50,663 |  |  | 0 |  |  | 50,663 |
Equity securities: |  |  |  |  |  |  |
Common stock: |  |  |  |  |  |  |
Public utilities | 73,704 |  |  | 0 |  |  | 0 |  |  | 73,704 |
Banks, trusts and insurance companies | 11,090 |  |  | 0 |  |  | 0 |  |  | 11,090 |
Energy and other | 190,882 |  |  | 0 |  |  | 0 |  |  | 190,882 |
Non-redeemable preferred stock | 0 |  |  | 26,169 |  |  | 0 |  |  | 26,169 |
Private equity funds | 0 |  |  | 0 |  |  | 13,745 |  |  | 13,745 |
Short-term investments: |  |  |  |  |  |  |
Short-term bonds | 69,996 |  |  | 2,167 |  |  | 0 |  |  | 72,163 |
Money market instruments | 81,385 |  |  | 0 |  |  | 0 |  |  | 81,385 |
Total assets at fair value | $ | 451,840 |  |  | $ | 2,894,182 |  |  | $ | 13,745 |  |  | $ | 3,359,767 |
Liabilities |  |  |  |  |  |  |
Other liabilities: |  |  |  |  |  |  |
Total return swaps | $ | 0 |  |  | $ | 1,564 |  |  | $ | 0 |  |  | $ | 1,564 |
Options sold | 51 |  |  | 0 |  |  | 0 |  |  | 51 |
Total liabilities at fair value | $ | 51 |  |  | $ | 1,564 |  |  | $ | 0 |  |  | $ | 1,615 |
| December 31, 2014
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (Amounts in thousands)
Assets |  |  |  |  |  |  |
Fixed maturity securities: |  |  |  |  |  |  |
U.S. government bonds and agencies | $ | 16,108 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 16,108 |
Municipal securities | 0 |  |  | 2,275,455 |  |  | 0 |  |  | 2,275,455 |
Mortgage-backed securities | 0 |  |  | 47,691 |  |  | 0 |  |  | 47,691 |
Corporate securities | 0 |  |  | 256,930 |  |  | 0 |  |  | 256,930 |
Collateralized loan obligations | 0 |  |  | 22,216 |  |  | 0 |  |  | 22,216 |
Equity securities: |  |  |  |  |  |  |
Common stock: |  |  |  |  |  |  |
Public utilities | 105,485 |  |  | 0 |  |  | 0 |  |  | 105,485 |
Banks, trusts and insurance companies | 9,757 |  |  | 0 |  |  | 0 |  |  | 9,757 |
Energy and other | 257,356 |  |  | 0 |  |  | 0 |  |  | 257,356 |
Non-redeemable preferred stock | 0 |  |  | 28,563 |  |  | 0 |  |  | 28,563 |
Private equity fund | 0 |  |  | 0 |  |  | 11,719 |  |  | 11,719 |
Short-term investments: |  |  |  |  |  |  |
Short-term bonds | 69,999 |  |  | 18,362 |  |  | 0 |  |  | 88,361 |
Money market instruments | 284,181 |  |  | 0 |  |  | 0 |  |  | 284,181 |
Total assets at fair value | $ | 742,886 |  |  | $ | 2,649,217 |  |  | $ | 11,719 |  |  | $ | 3,403,822 |
Liabilities |  |  |  |  |  |  |
Other liabilities: |  |  |  |  |  |  |
Total return swaps | $ | 0 |  |  | $ | 4,025 |  |  | $ | 0 |  |  | $ | 4,025 |
Options sold | 194 |  |  | 0 |  |  | 0 |  |  | 194 |
Total liabilities at fair value | $ | 194 |  |  | $ | 4,025 |  |  | $ | 0 |  |  | $ | 4,219 |
Summary Of Changes In Fair Value Of Level 3 Financial Assets And Financial Liabilities Held At Fair Value | The following tables present a summary of changes in fair value of Level 3 financial assets and financial liabilities held at fair value:
| Three Months Ended June 30,
| 2015 |  | 2014
| Private Equity Fund |  | Private Equity Fund
| (Amounts in thousands)
Beginning Balance | $ | 15,432 |  |  | $ | 12,726 |
Realized (losses) gains included in earnings | (1,663 | ) |  | 240 |
Settlement | (24 | ) |  | 0 |
Ending Balance | $ | 13,745 |  |  | $ | 12,966 |
The amount of total (losses) gains for the period included in earnings attributable to assets still held at June 30 | $ | (1,663 | ) |  | $ | 240 |
| Six Months Ended June 30,
| 2015 |  | 2014
| Private Equity Fund |  | Collateralized Debt Obligations |  | Private Equity Fund
| (Amounts in thousands)
Beginning Balance | $ | 11,719 |  |  | $ | 4,302 |  |  | $ | 12,548 |
Realized (losses) gains included in earnings | (861 | ) |  | (755 | ) |  | 418 |
Reclassification from other assets | 2,911 |  |  | 0 |  |  | 0 |
Sales | 0 |  |  | (3,547 | ) |  | 0 |
Settlement | (24 | ) |  | 0 |  |  | 0 |
Ending Balance | $ | 13,745 |  |  | $ | 0 |  |  | $ | 12,966 |
The amount of total (losses) gains for the period included in earnings attributable to assets still held at June 30 | $ | (861 | ) |  | $ | 0 |  |  | $ | 418 |

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- Definition Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis. + 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 (bbb) -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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