SUMMARY OF INVESTMENTS
OTHER THAN INVESTMENTS IN RELATED PARTIES


At December 31, 2011 Type of Investment	Cost⁽¹⁾		Value		Amount at which Shown in the Balance Sheet
	(In Thousands)
Fixed Maturities:
Bonds:
United States government and government agencies & authorities	$	392,327	$	414,537	$	414,537
States, municipalities and political subdivisions		268,240		275,018		275,018
Foreign governments		9,527		9,527		9,527
Public utilities		38,434		38,506		38,506
Convertibles and bonds with warrants attached		—		—		—
All other corporate bonds		674,335		656,655		656,655
Certificates of deposit		—		—		—
Redeemable preferred stock		—		—		—
Total fixed maturities		1,382,863		1,394,243		1,394,243
Equity securities:
Common stocks:
Public utilities Banks, trust and insurance companies		20,232		22,624		22,624
Industrial, miscellaneous and all other Nonredeemable preferred stocks		13,809		12,976		12,976
Total equity securities		34,041		35,600		35,600
Short-term investments, at cost (approximates market value)		128,565		128,565		128,565
Other invested assets (approximates market value)		14,588		14,588		14,588
Total investments	$	1,560,057	$	1,572,996	$	1,572,996

(1)

Original cost of equity securities and, as to fixed maturities, original cost reduced by repayments and adjusted for amortization of premiums or accrual of discounts.

- Definition

The entire disclosure for the schedule applicable to insurance companies summarizing investments held as of the most recent audited balance sheet. At a minimum, such summary is by three major categories of investments including: (1) fixed maturities primarily consisting of bonds, including convertibles and bonds with warrants, and redeemable preferred stocks, (2) equity securities primarily consisting of common stocks and nonredeemable preferred stocks, and (3) other investments including mortgage loans on real estate, real estate held for investment, real estate acquired in satisfaction of debt, policy loans, other long-term investments, and short-term investments not otherwise categorized. The information provided with respect to each item within each category includes: (A) the original cost of equity securities and, as to fixed maturity securities, original cost reduced by repayments and adjusted for amortization of premiums or accrual of discounts, (B) fair value as of the reporting date, and (C) the amount at which the item within each category is shown in the statement of financial position; with respect to (C), if the amount at which shown in the statement of financial position is different from the items original [amortized] cost or fair value, an explanation of the difference may be included herein.

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