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Fair Value Measurement (Tables) | 9 Months Ended
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Sep. 30, 2017
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, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair values:
| September 30, 2017
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (Amounts in thousands)
Assets |  |  |  |  |  |  |
Fixed maturity securities: |  |  |  |  |  |  |
U.S. government bonds and agencies | $ | 13,892 |  |  | $ | — |  |  | $ | — |  |  | $ | 13,892 |
Municipal securities | — |  |  | 2,483,750 |  |  | — |  |  | 2,483,750 |
Mortgage-backed securities | — |  |  | 32,726 |  |  | — |  |  | 32,726 |
Corporate securities | — |  |  | 161,883 |  |  | — |  |  | 161,883 |
Collateralized loan obligations | — |  |  | 94,325 |  |  | — |  |  | 94,325 |
Other asset-backed securities | — |  |  | 55,160 |  |  | — |  |  | 55,160 |
Total fixed maturity securities | 13,892 |  |  | 2,827,844 |  |  | — |  |  | 2,841,736 |
Equity securities: |  |  |  |  |  |  |
Common stock | 410,834 |  |  | — |  |  | — |  |  | 410,834 |
Non-redeemable preferred stock | — |  |  | 30,665 |  |  | — |  |  | 30,665 |
Private equity funds | — |  |  | — |  |  | 8,684 |  |  | 8,684 |
Private equity fund measured at net asset value (1) |  |  |  |  |  |  | 69,011 |
Total equity securities | 410,834 |  |  | 30,665 |  |  | 8,684 |  |  | 519,194 |
Short-term investments: |  |  |  |  |  |  |
Short-term bonds | 29,996 |  |  | 18,893 |  |  | — |  |  | 48,889 |
Money market instruments | 317,513 |  |  | — |  |  | — |  |  | 317,513 |
Total short-term investments | 347,509 |  |  | 18,893 |  |  | — |  |  | 366,402 |
Other assets: |  |  |  |  |  |  |
Note receivable | — |  |  | 5,585 |  |  | — |  |  | 5,585 |
Total assets at fair value | $ | 772,235 |  |  | $ | 2,882,987 |  |  | $ | 8,684 |  |  | $ | 3,732,917 |
Liabilities |  |  |  |  |  |  |
Other liabilities: |  |  |  |  |  |  |
Total return swaps | $ | — |  |  | $ | 1,589 |  |  | $ | — |  |  | $ | 1,589 |
Options sold | 146 |  |  | — |  |  | — |  |  | 146 |
Total liabilities at fair value | $ | 146 |  |  | $ | 1,589 |  |  | $ | — |  |  | $ | 1,735 |
__________ (1) The fair value is measured using the NAV practical expedient; therefore, it is not categorized within the fair value hierarchy. The fair value amount is presented in this table to permit reconciliation of the fair value hierarchy to the amounts presented in the Company's consolidated balance sheets.
| December 31, 2016
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (Amounts in thousands)
Assets |  |  |  |  |  |  |
Fixed maturity securities: |  |  |  |  |  |  |
U.S. government bonds and agencies | $ | 12,275 |  |  | $ | — |  |  | $ | — |  |  | $ | 12,275 |
Municipal securities | — |  |  | 2,449,292 |  |  | — |  |  | 2,449,292 |
Mortgage-backed securities | — |  |  | 39,777 |  |  | — |  |  | 39,777 |
Corporate securities | — |  |  | 189,688 |  |  | — |  |  | 189,688 |
Collateralized loan obligations | — |  |  | 86,525 |  |  | — |  |  | 86,525 |
Other asset-backed securities | — |  |  | 36,996 |  |  | — |  |  | 36,996 |
Total fixed maturity securities | 12,275 |  |  | 2,802,278 |  |  | — |  |  | 2,814,553 |
Equity securities: |  |  |  |  |  |  |
Common stock | 316,450 |  |  | — |  |  | — |  |  | 316,450 |
Non-redeemable preferred stock | — |  |  | 31,809 |  |  | — |  |  | 31,809 |
Private equity funds | — |  |  | — |  |  | 9,068 |  |  | 9,068 |
Total equity securities | 316,450 |  |  | 31,809 |  |  | 9,068 |  |  | 357,327 |
Short-term investments: |  |  |  |  |  |  |
Short-term bonds | 70,393 |  |  | 20,233 |  |  | — |  |  | 90,626 |
Money market instruments | 285,054 |  |  | — |  |  | — |  |  | 285,054 |
Total short-term investments | 355,447 |  |  | 20,233 |  |  | — |  |  | 375,680 |
Other assets: |  |  |  |  |  |  |  |
Total return swaps | — |  |  | 667 |  |  | — |  |  | 667 |
Total assets at fair value | $ | 684,172 |  |  | $ | 2,854,987 |  |  | $ | 9,068 |  |  | $ | 3,548,227 |
Liabilities |  |  |  |  |  |  |
Other liabilities: |  |  |  |  |  |  |
Total return swaps | $ | — |  |  | $ | 765 |  |  | $ | — |  |  | $ | 765 |
Options sold | 20 |  |  | — |  |  | — |  |  | 20 |
Total liabilities at fair value | $ | 20 |  |  | $ | 765 |  |  | $ | — |  |  | $ | 785 |
The following tables present the carrying value and fair value of the Company’s financial instruments disclosed, but not carried, at fair value, and the level within the fair value hierarchy at which such instruments are categorized:
| September 30, 2017
| Carrying Value |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
| (Amounts in thousands)
Liabilities |  |  |  |  |  |  |  |  |
Notes payable: |  |  |  |  |  |  |  |  |
Unsecured notes | $ | 371,236 |  |  | $ | 385,733 |  |  | $ | — |  |  | $ | 385,733 |  |  | $ | — |
| December 31, 2016
| Carrying Value |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
| (Amounts in thousands)
Liabilities |  |  |  |  |  |  |  |  |
Notes payable: |  |  |  |  |  |  |  |  |
Secured notes | $ | 140,000 |  |  | $ | 140,000 |  |  | $ | — |  |  | $ | 140,000 |  |  | $ | — |
Unsecured notes | 180,000 |  |  | 180,000 |  |  | — |  |  | 180,000 |  |  | — |
Summary Of Changes In Fair Value Of Level 3 Financial Assets And Financial Liabilities Held At Fair Value | The following table presents a summary of changes in fair value of Level 3 financial assets and financial liabilities:
|  | Private Equity Funds
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2017 |  | 2016 |  | 2017 |  | 2016
|  | (Amounts in thousands)
Beginning balance |  | $ | 8,764 |  |  | $ | 8,972 |  |  | $ | 9,068 |  |  | $ | 10,431 |
Realized (losses) gains included in earnings |  | (80 | ) |  | 564 |  |  | (384 | ) |  | (895 | )
Ending balance |  | $ | 8,684 |  |  | $ | 9,536 |  |  | $ | 8,684 |  |  | $ | 9,536 |
The amount of total (losses) gains for the period included in earnings attributable to assets still held at September 30 |  | $ | (80 | ) |  | $ | 564 |  |  | $ | (384 | ) |  | $ | (895 | )

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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=66048111&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=66048111&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=66048111&loc=d3e19279-110258 + Details
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