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Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2013
Fair Value of Financial Instruments [Abstract]  
Summary of Company's fair value hierarchy measured at recurring basis
                                         
                Fair Value Measurements at  
    Carrying     Fair     Reporting Date Using  
    Amount     Value     Level 1     Level 2     Level 3  

March 31, 2013

                                        

Financial Assets

                                        

Investments

                                        

Fixed maturities

                                        

U.S. government and federally sponsored agency obligations:

                                        

Mortgage-backed securities

   $ 631,424     $ 631,424     $ -     $ 631,424     $ -  

Other, including U.S. Treasury securities

     448,519       448,519       18,443       430,076       -  

Municipal bonds

     1,604,242       1,604,242       -       1,589,096       15,146  

Foreign government bonds

     59,343       59,343       -       59,343       -  

Corporate bonds

     2,649,520       2,649,520       13,579       2,580,414       55,527  

Other mortgage-backed securities

     750,625       750,625       -       717,542       33,083  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed maturities

     6,143,673       6,143,673       32,022       6,007,895       103,756  

Equity securities

     58,661       58,661       47,760       10,561       340  

Short-term investments

     34,475       34,475       34,475       -       -  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Totals

     6,236,809       6,236,809       114,257       6,018,456       104,096  

Separate Account (variable annuity) assets (1)

     1,508,260       1,508,260       1,508,260       -       -  

Financial Liabilities

     -       -       -       -       -  
           

December 31, 2012

                                        

Financial Assets

                                        

Investments

                                        

Fixed maturities

                                        

U.S. government and federally sponsored agency obligations:

                                        

Mortgage-backed securities

   $ 619,559     $ 619,559     $ -     $ 619,559     $ -  

Other, including U.S. Treasury securities

     409,428       409,428       18,594       390,834       -  

Municipal bonds

     1,586,037       1,586,037       -       1,573,762       12,275  

Foreign government bonds

     57,869       57,869       -       57,869       -  

Corporate bonds

     2,567,034       2,567,034       11,934       2,469,378       85,722  

Other mortgage-backed securities

     722,305       722,305       -       689,133       33,172  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed maturities

     5,962,232       5,962,232       30,528       5,800,535       131,169  

Equity securities

     53,503       53,503       43,704       9,459       340  

Short-term investments

     87,561       87,561       87,561       -       -  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Totals

     6,103,296       6,103,296       161,793       5,809,994       131,509  

Separate Account (variable annuity) assets (1)

     1,398,281       1,398,281       1,398,281       -       -  

Financial Liabilities

     -       -       -       -       -  

 

 

(1)

Separate Account (variable annuity) liabilities are set equal to Separate Account (variable annuity) assets.

Table for reconciliations for all Level 3 assets measured at fair value on a recurring basis
                                                 
    Municipal
Bonds		     Corporate
Bonds		     Other
Mortgage-
Backed
Securities		     Total
Fixed
Maturities		     Equity
Securities		     Total  

Financial Assets

                                                

Beginning balance, January 1, 2013

   $ 12,275     $ 85,722     $ 33,172     $ 131,169     $ 340     $ 131,509  

Transfers into Level 3 (1)

     2,907       4,671       8,466       16,044       -       16,044  

Transfers out of Level 3 (1)

     -       (33,678 )      -       (33,678 )      -       (33,678 ) 

Total gains or losses

                                                

Net realized gains (losses) included in net income

     -       -       -       -       -       -  

Net unrealized gains (losses) included in other comprehensive income

     (36 )      (885 )      (127 )      (1,048 )      -       (1,048 ) 

Purchases

     -       -       -       -       -       -  

Issuances

     -       -       -       -       -       -  

Sales

     -       -       -       -       -       -  

Settlements

     -       -       -       -       -       -  

Paydowns, maturities and distributions

     -       (303 )      (8,428 )      (8,731 )      -       (8,731 ) 
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ending balance, March 31, 2013.

   $ 15,146     $ 55,527     $ 33,083     $ 103,756     $ 340     $ 104,096  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
             

Beginning balance, January 1, 2012

   $ -     $ 88,256     $ 4,532     $ 92,788     $ 385     $ 93,173  

Transfers into Level 3 (1)

     -       8,833       8,504       17,337       -       17,337  

Transfers out of Level 3 (1)

     -       (5,247 )      -       (5,247 )      -       (5,247 ) 

Total gains or losses

                                                

Net realized gains (losses) included in net income

     -       -       -       -       -       -  

Net unrealized gains (losses) included in other comprehensive income

     -       (1,779 )      156       (1,623 )      -       (1,623 ) 

Purchases

     -       -       -       -       -       -  

Issuances

     -       -       -       -       -       -  

Sales

     -       -       -       -       -       -  

Settlements

     -       -       -       -       -       -  

Paydowns, maturities and distributions

     -       (143 )      (127 )      (270 )      -       (270 ) 
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ending balance, March 31, 2012.

   $ -     $ 89,920     $ 13,065     $ 102,985     $ 385     $ 103,370  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

 

(1)

Transfers into and out of Level 3 during the periods ended March 31, 2013 and 2012 were attributable to changes in the availability of observable market information for individual fixed maturity securities. The Company’s policy is to recognize transfers into and transfers out of the levels as of the ending date of the reporting period.

Carrying value, fair value and fair value hierarchy of financial assets and financial liabilities
                                         
                Fair Value Measurements at  
    Carrying     Fair     Reporting Date Using  
    Amount     Value     Level 1     Level 2     Level 3  

March 31, 2013

                                        

Financial Assets

                                        

Investments

                                        

Other investments

   $ 135,653     $ 137,393     $ -     $ -     $ 137,393  

Financial Liabilities

                                        

Fixed annuity contract liabilities

     3,311,013       3,119,794       -       -       3,119,794  

Policyholder account balances on interest-sensitive life contracts

     78,902       78,404       -       -       78,404  

Other policyholder funds

     101,032       101,032       -       -       101,032  

Short-term debt

     38,000       38,000       -       38,000       -  

Long-term debt

     199,825       221,712       221,712       -       -  

Other liabilities, repurchase agreement obligations

     87,846       87,846       -       87,846       -  
           

December 31, 2012

                                        

Financial Assets

                                        

Investments

                                        

Other investments

   $ 134,985     $ 135,121     $ -     $ -     $ 135,121  

Financial Liabilities

                                        

Fixed annuity contract liabilities

     3,257,758       3,070,111       -       -       3,070,111  

Policyholder account balances on interest-sensitive life contracts

     79,017       78,519       -       -       78,519  

Other policyholder funds

     103,227       103,227       -       -       103,227  

Short-term debt

     38,000       38,000       -       38,000       -  

Long-term debt

     199,809       219,319       219,319       -       -