Horace Mann Educators (HMN) 10-Q 8 Nov 16 2016 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 31, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Entity Registrant Name	HORACE MANN EDUCATORS CORP /DE/
Entity Central Index Key	850,141
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Trading Symbol	HMN
Entity Common Stock, Shares Outstanding		40,207,673

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015
Investments
Fixed maturities, available for sale, at fair value (amortized cost 2016, $6,907,575; 2015, $6,785,626)		$ 7,494,053	$ 7,091,340
Equity securities, available for sale, at fair value (cost 2016, $124,806; 2015, $95,722)		137,640	99,797
Short-term and other investments		537,459	456,893
Total investments		8,169,152	7,648,030
Cash		53,616	15,509
Deferred policy acquisition costs		225,792	253,176
Goodwill		47,396	47,396
Other assets		321,475	292,139
Separate Account (variable annuity) assets		1,873,646	1,800,722
Total assets		10,691,077	10,056,972
Policy liabilities
Investment contract and life policy reserves		5,385,907	5,126,842
Unpaid claims and claim expenses		332,787	323,720
Unearned premiums		247,229	232,841
Total policy liabilities		5,965,923	5,683,403
Other policyholder funds		706,384	692,652
Other liabilities		453,894	368,559
Long-term debt		247,146	246,975
Separate Account (variable annuity) liabilities		1,873,646	1,800,722
Total liabilities		9,246,993	8,792,311
Preferred stock, $0.001 par value, authorized 1,000,000 shares; none issued		0	0
Common stock, $0.001 par value, authorized 75,000,000 shares; issued, 2016, 64,855,897; 2015, 64,537,554		65	65
Additional paid-in capital		450,759	442,648
Retained earnings		1,146,978	1,116,277
Accumulated other comprehensive income (loss), net of taxes:
Net unrealized gains on fixed maturities and equity securities	[1],[2]	337,291	175,167
Net funded status of pension obligations	[1]	(11,794)	(11,794)
Treasury stock, at cost, 2016, 24,672,932 shares; 2015, 23,971,522 shares		(479,215)	(457,702)
Total shareholders’ equity		1,444,084	1,264,661
Total liabilities and shareholders’ equity		$ 10,691,077	$ 10,056,972
[1]	All amounts are net of tax.
[2]	The pretax amounts reclassified from accumulated other comprehensive income (loss), $3,499 and $8,566, are included in net realized investment gains and losses and the related tax expenses, $1,225 and $2,998, are included in income tax expense in the Consolidated Statements of Operations for the three and nine months ended September 30, 2016, respectively.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fixed maturities, available for sale, amortized cost	$ 6,907,575	$ 6,785,626
Equity securities, available for sale, cost	$ 124,806	$ 95,722
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	64,855,897	64,537,554
Treasury stock, shares	24,672,932	23,971,522

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues
Insurance premiums and contract charges earned	$ 191,050	$ 182,812	$ 564,860	$ 544,927
Net investment income	94,847	81,016	270,685	248,324
Net realized investment gains	3,985	1,308	6,911	8,789
Other income	1,294	617	3,581	2,302
Total revenues	291,176	265,753	846,037	804,342
Benefits, losses and expenses
Benefits, claims and settlement expenses	135,710	121,181	403,631	368,139
Interest credited	48,658	46,216	142,924	136,103
Policy acquisition expenses amortized	24,474	25,709	73,113	73,400
Operating expenses	44,337	39,647	130,478	115,611
Interest expense	2,975	2,652	8,858	9,610
Total benefits, losses and expenses	256,154	235,405	759,004	702,863
Income before income taxes	35,022	30,348	87,033	101,479
Income tax expense	8,099	8,364	23,091	29,037
Net income	$ 26,923	$ 21,984	$ 63,942	$ 72,442
Net income per share
Basic	$ 0.66	$ 0.53	$ 1.55	$ 1.73
Diluted	$ 0.65	$ 0.52	$ 1.55	$ 1.71
Weighted average number of shares and equivalent shares (in thousands)
Basic	41,092	41,852	41,155	41,965
Diluted	41,347	42,305	41,386	42,362
Net realized investment gains (losses)
Total other-than-temporary impairment losses on securities	$ (160)	$ (3,602)	$ (7,686)	$ (20,860)
Portion of losses recognized in other comprehensive income	0	0	(290)	(4,300)
Net other-than-temporary impairment losses on securities recognized in earnings	(160)	(3,602)	(7,396)	(16,560)
Realized gains, net	4,145	4,910	14,307	25,349
Total	$ 3,985	$ 1,308	$ 6,911	$ 8,789

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands		3 Months Ended				9 Months Ended
		Sep. 30, 2016		Sep. 30, 2015		Sep. 30, 2016		Sep. 30, 2015
Comprehensive income
Net income		$ 26,923		$ 21,984		$ 63,942		$ 72,442
Other comprehensive income (loss), net of taxes:
Change in net unrealized gains and losses on fixed maturities and equity securities	[1]	7,638	[2]	2,832	[3]	162,124	[2]	(70,936)	[3]
Change in net funded status of pension obligations	[1]	0		0		0		0
Other comprehensive income (loss)	[1]	7,638		2,832		162,124		(70,936)
Total		$ 34,561		$ 24,816		$ 226,066		$ 1,506
[1]	All amounts are net of tax.
[2]	The pretax amounts reclassified from accumulated other comprehensive income (loss), $3,499 and $8,566, are included in net realized investment gains and losses and the related tax expenses, $1,225 and $2,998, are included in income tax expense in the Consolidated Statements of Operations for the three and nine months ended September 30, 2016, respectively.
[3]	The pretax amounts reclassified from accumulated other comprehensive income (loss), $1,545 and $9,165, are included in net realized investment gains and losses and the related tax expenses, $541 and $3,208, are included in income tax expense in the Consolidated Statements of Operations for the three and nine months ended September 30, 2015, respectively.

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total		Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income (loss), net of taxes	Treasury stock, at cost
Beginning balance at Dec. 31, 2014			$ 64	$ 422,232	$ 1,065,318	$ 284,601	$ (435,752)
Options exercised, 2016, 114,507 shares; 2015, 80,660 shares			0
Conversion of common stock units, 2016, 15,629 shares; 2015, 8,293 shares			0
Conversion of restricted stock units, 2016, 188,207 shares; 2015, 191,998 shares			1
Options exercised and conversion of common stock units and restricted stock units				11,926
Share-based compensation expense				5,032
Net income	$ 72,442				72,442
Cash dividends, 2016, $0.795 per share; 2015, $0.750 per share					(31,975)
Change in net unrealized gains and losses on fixed maturities and equity securities	(70,936)	[1],[2]				(70,936)
Change in net funded status of pension obligations	0	[1]				0
Acquisition of shares, 2016, 701,410 shares; 2015, 476,498 shares							(15,775)
Ending balance at Sep. 30, 2015	1,307,178		65	439,190	1,105,785	213,665	(451,527)
Beginning balance at Dec. 31, 2015	1,264,661		65	442,648	1,116,277	163,373	(457,702)
Options exercised, 2016, 114,507 shares; 2015, 80,660 shares			0
Conversion of common stock units, 2016, 15,629 shares; 2015, 8,293 shares			0
Conversion of restricted stock units, 2016, 188,207 shares; 2015, 191,998 shares			0
Options exercised and conversion of common stock units and restricted stock units				2,045
Share-based compensation expense				6,066
Net income	63,942				63,942
Cash dividends, 2016, $0.795 per share; 2015, $0.750 per share					(33,241)
Change in net unrealized gains and losses on fixed maturities and equity securities	162,124	[1],[3]				162,124
Change in net funded status of pension obligations	0	[1]				0
Acquisition of shares, 2016, 701,410 shares; 2015, 476,498 shares							(21,513)
Ending balance at Sep. 30, 2016	$ 1,444,084		$ 65	$ 450,759	$ 1,146,978	$ 325,497	$ (479,215)
[1]	All amounts are net of tax.
[2]	The pretax amounts reclassified from accumulated other comprehensive income (loss), $1,545 and $9,165, are included in net realized investment gains and losses and the related tax expenses, $541 and $3,208, are included in income tax expense in the Consolidated Statements of Operations for the three and nine months ended September 30, 2015, respectively.
[3]	The pretax amounts reclassified from accumulated other comprehensive income (loss), $3,499 and $8,566, are included in net realized investment gains and losses and the related tax expenses, $1,225 and $2,998, are included in income tax expense in the Consolidated Statements of Operations for the three and nine months ended September 30, 2016, respectively.

CONSOLIDATED STATEMENTS OF CHA7

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Common stock, par value beginning balance	$ 0.001	$ 0.001
Options exercised, shares	114,507	80,660
Conversion of common stock units, shares	15,629	8,293
Conversion of restricted stock units, shares	188,207	191,998
Cash dividends, per share	$ 0.795	$ 0.750
Treasury stock, beginning balance, shares	23,971,522	23,308,430
Treasury stock, acquisition of shares	701,410	476,498
Treasury stock, ending balance, shares	24,672,932	23,784,928

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows - operating activities
Premiums collected	$ 557,816	$ 538,633
Policyholder benefits paid	(422,184)	(399,465)
Policy acquisition and other operating expenses paid	(207,825)	(196,209)
Federal income taxes paid	(18,156)	(20,327)
Investment income collected	259,373	246,042
Interest expense paid	(6,072)	(7,316)
Other	(1,437)	(1,881)
Net cash provided by operating activities	161,515	159,477
Fixed maturities
Purchases	(1,097,880)	(1,111,958)
Sales	351,739	327,641
Maturities, paydowns, calls and redemptions	634,686	502,554
Purchase of other invested assets	(42,578)	(19,037)
Net cash provided by (used in) short-term and other investments	(75,665)	56,831
Net cash used in investing activities	(229,698)	(243,969)
Cash flows - financing activities
Dividends paid to shareholders	(33,241)	(31,975)
Principal borrowings on Bank Credit Facility	0	75,000
Maturity of Senior Notes due 2015	0	(75,000)
Acquisition of treasury stock	(21,513)	(15,775)
Exercise of stock options	2,361	1,518
Annuity contracts: variable, fixed and FHLB funding agreements
Deposits	391,944	422,195
Benefits, withdrawals and net transfers to Separate Account (variable annuity) assets	(240,489)	(258,076)
Life policy accounts
Deposits	2,957	742
Withdrawals and surrenders	(3,151)	(3,050)
Change in bank overdrafts	7,422	7,153
Net cash provided by financing activities	106,290	122,732
Net increase in cash	38,107	38,240
Cash at beginning of period	15,509	11,675
Cash at end of period	$ 53,616	$ 49,915

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1 - Basis of Presentation The accompanying unaudited consolidated financial statements of Horace Mann Educators Corporation (“HMEC”; and together with its subsidiaries, the “Company” or “Horace Mann”) have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) and with the rules and regulations of the Securities and Exchange Commission (“SEC”), specifically Regulation S-X and the instructions to Form 10-Q. Certain information and note disclosures which are normally included in annual financial statements prepared in accordance with GAAP but are not required for interim reporting purposes have been omitted. The Company believes that these consolidated financial statements contain all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to present fairly the Company’s consolidated financial position as of September 30, 2016, the consolidated results of operations and comprehensive income (loss) for the three and nine months ended September 30, 2016 and 2015, and the consolidated changes in shareholders’ equity and cash flows for the nine months ended September 30, 2016 and 2015. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect (1) the reported amounts of assets and liabilities, (2) disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and (3) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The subsidiaries of HMEC market and underwrite personal lines of property and casualty (primarily personal lines automobile and homeowners) insurance, retirement annuities (primarily tax-qualified products) and life insurance, primarily to K-12 teachers, administrators and other employees of public schools and their families. HMEC’s principal operating subsidiaries are Horace Mann Life Insurance Company, Horace Mann Insurance Company, Teachers Insurance Company, Horace Mann Property & Casualty Insurance Company and Horace Mann Lloyds. These consolidated financial statements should be read in conjunction with the consolidated financial statements and the related notes to consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. The results of operations for the three and nine months ended September 30, 2016 are not necessarily indicative of the results to be expected for the full year. The Company has reclassified the presentation of certain prior period information to conform with the 2016 presentation. See “Adopted Accounting Standards”. September 30, December 31, 2016 2015 Investment contract reserves $ 4,308,100 $ 4,072,102 Life policy reserves 1,077,807 1,054,740 Total $ 5,385,907 $ 5,126,842 Accumulated other comprehensive income (loss) represents the accumulated change in shareholders’ equity from transactions and other events and circumstances from non-shareholder sources. For the Company, accumulated other comprehensive income (loss) includes the after tax change in net unrealized gains and losses on fixed maturities and equity securities and the after tax change in net funded status of pension obligations for the period as shown in the Consolidated Statement of Changes in Shareholders’ Equity. Unrealized Gains and Losses on Fixed Maturities and Equity Defined Securities (1)(2) Benefit Plans (1) Total (1) Beginning balance, July 1, 2016 $ 329,653 $ (11,794 ) $ 317,859 Other comprehensive income (loss) before reclassifications 9,912 - 9,912 Amounts reclassified from accumulated other comprehensive income (loss) (2,274 ) - (2,274 ) Net current period other comprehensive income (loss) 7,638 - 7,638 Ending balance, September 30, 2016 $ 337,291 $ (11,794 ) $ 325,497 Beginning balance, January 1, 2016 $ 175,167 $ (11,794 ) $ 163,373 Other comprehensive income (loss) before reclassifications 167,692 - 167,692 Amounts reclassified from accumulated other comprehensive income (loss) (5,568 ) - (5,568 ) Net current period other comprehensive income (loss) 162,124 - 162,124 Ending balance, September 30, 2016 $ 337,291 $ (11,794 ) $ 325,497 (1) All amounts are net of tax. (2) The pretax amounts reclassified from accumulated other comprehensive income (loss), $3,499 and $8,566, are included in net realized investment gains and losses and the related tax expenses, $1,225 and $2,998, are included in income tax expense in the Consolidated Statements of Operations for the three and nine months ended September 30, 2016, respectively. Unrealized Gains and Losses on Fixed Maturities and Equity Defined Securities (1)(2) Benefit Plans (1) Total (1) Beginning balance, July 1, 2015 $ 223,786 $ (12,953 ) $ 210,833 Other comprehensive income (loss) before reclassifications 3,836 - 3,836 Amounts reclassified from accumulated other comprehensive income (loss) (1,004 ) - (1,004 ) Net current period other comprehensive income (loss) 2,832 - 2,832 Ending balance, September 30, 2015 $ 226,618 $ (12,953 ) $ 213,665 Beginning balance, January 1, 2015 $ 297,554 $ (12,953 ) $ 284,601 Other comprehensive income (loss) before reclassifications (64,979 ) - (64,979 ) Amounts reclassified from accumulated other comprehensive income (loss) (5,957 ) - (5,957 ) Net current period other comprehensive income (loss) (70,936 ) - (70,936 ) Ending balance, September 30, 2015 $ 226,618 $ (12,953 ) $ 213,665 (1) All amounts are net of tax. (2) The pretax amounts reclassified from accumulated other comprehensive income (loss), $1,545 and $9,165, are included in net realized investment gains and losses and the related tax expenses, $541 and $3,208, are included in income tax expense in the Consolidated Statements of Operations for the three and nine months ended September 30, 2015, respectively. Comparative information for elements that are not required to be reclassified in their entirety to net income in the same reporting period is located in “Note 2 -- Investments -- Unrealized Gains and Losses on Fixed Maturities and Equity Securities”. Presentation of Debt Issuance Costs Effective January 1, 2016, the Company adopted accounting guidance which was issued to simplify the presentation of costs incurred to issue debt securities. The guidance requires debt issuance costs associated with specific debt securities to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. Costs incurred related to line of credit arrangements continue to be presented as an asset in the consolidated balance sheet. Also, the guidance does not affect the recognition and measurement of debt issuance costs. The guidance required retrospective application. As a result of this adoption, the following items in the Company’s December 31, 2015 Consolidated Balance Sheet were each reduced by $2,371: Other Assets, Total Assets, Long-term Debt, Total Liabilities and Total Liabilities and Shareholders’ Equity. Net income per share (basic and diluted) did not change as a result of the adopted accounting change.

Investments

Investments	9 Months Ended
	Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Investments	Note 2 - Investments The Company’s investment portfolio includes free-standing derivative financial instruments (currently over the counter (“OTC”) index call option contracts) to economically hedge risk associated with its fixed indexed annuity and indexed universal life products’ contingent liabilities. The Company’s fixed indexed annuity and indexed universal life products include embedded derivative features that are discussed in “Note 1 -- Summary of Significant Accounting Policies -- Investment Contract and Life Policy Reserves -- Reserves for Fixed Indexed Annuities and Indexed Universal Life Policies” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. The Company’s investment portfolio included no other free-standing derivative financial instruments (futures, forwards, swaps, option contracts or other financial instruments with similar characteristics), and there were no other embedded derivative features related to the Company’s insurance products during the nine months ended September 30, 2016 and 2015. Fixed Maturities and Equity Securities The Company’s investment portfolio is comprised primarily of fixed maturity securities (“fixed maturities”) and also includes equity securities. Amortized Unrealized Unrealized Fair OTTI in Cost/Cost Gains Losses Value AOCI (1) September 30, 2016 Fixed maturity securities U.S. Government and federally sponsored agency obligations (2): Mortgage-backed securities $ 419,651 $ 52,772 $ 267 $ 472,156 $ - Other, including U.S. Treasury securities 449,016 39,383 272 488,127 - Municipal bonds 1,555,326 228,185 4,770 1,778,741 (1,899 ) Foreign government bonds 71,402 8,437 - 79,839 - Corporate bonds 2,720,987 239,109 6,758 2,953,338 (340 ) Other mortgage-backed securities 1,691,193 40,302 9,643 1,721,852 1,700 Totals $ 6,907,575 $ 608,188 $ 21,710 $ 7,494,053 $ (539 ) Equity securities (3) $ 124,806 $ 14,355 $ 1,521 $ 137,640 $ - December 31, 2015 Fixed maturity securities U.S. Government and federally sponsored agency obligations (2): Mortgage-backed securities $ 461,862 $ 44,413 $ 1,861 $ 504,414 $ - Other, including U.S. Treasury securities 532,373 21,153 7,415 546,111 - Municipal bonds 1,553,603 165,680 10,340 1,708,943 (4,140 ) Foreign government bonds 67,441 6,288 112 73,617 - Corporate bonds 2,687,376 140,873 48,834 2,779,415 - Other mortgage-backed securities 1,482,971 16,830 20,961 1,478,840 1,382 Totals $ 6,785,626 $ 395,237 $ 89,523 $ 7,091,340 $ (2,758 ) Equity securities (3) $ 95,722 $ 8,405 $ 4,330 $ 99,797 $ - (1) Related to securities for which an unrealized loss was bifurcated to distinguish the credit-related portion and the portion driven by other market factors. Represents the amount of other-than-temporary impairment losses in AOCI which was not included in earnings; amounts also include unrealized gains/(losses) on such impaired securities relating to changes in the fair value of those securities subsequent to the impairment measurement date. (2) Fair value includes securities issued by Federal National Mortgage Association (“FNMA”) of $203,381 and $231,294; Federal Home Loan Mortgage Corporation (“FHLMC”) of $302,472 and $363,957; and Government National Mortgage Association (“GNMA”) of $122,311 and $130,940 as of September 30, 2016 and December 31, 2015, respectively. (3) Includes nonredeemable (perpetual) preferred stocks, common stocks and closed-end funds. The following table presents the fair value and gross unrealized losses of fixed maturities and equity securities in an unrealized loss position at September 30, 2016 and December 31, 2015, respectively. The Company views the decrease in value of all of the securities with unrealized losses at September 30, 2016 -- which was driven largely by changes in interest rates, spread widening, financial market illiquidity and/or market volatility from the date of acquisition -- as temporary. For fixed maturity securities, management does not have the intent to sell the securities and it is not more likely than not the Company will be required to sell the securities before the anticipated recovery of the amortized cost bases, and management expects to recover the entire amortized cost bases of the fixed maturity securities. 12 Months or Less More than 12 Months Total Gross Gross Gross Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses September 30, 2016 Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 9,701 $ 60 $ 3,564 $ 207 $ 13,265 $ 267 Other 27,728 272 - - 27,728 272 Municipal bonds 53,583 879 16,768 3,891 70,351 4,770 Foreign government bonds - - - - - - Corporate bonds 114,009 1,514 63,800 5,244 177,809 6,758 Other mortgage-backed securities 266,884 5,447 207,444 4,196 474,328 9,643 Total fixed maturity securities 471,905 8,172 291,576 13,538 763,481 21,710 Equity securities (1) 15,494 885 8,603 636 24,097 1,521 Combined totals $ 487,399 $ 9,057 $ 300,179 $ 14,174 $ 787,578 $ 23,231 Number of positions with a gross unrealized loss 201 107 308 Fair value as a percentage of total fixed maturities and equity securities fair value 6.4 % 3.9 % 10.3 % December 31, 2015 Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 48,097 $ 1,748 $ 1,595 $ 113 $ 49,692 $ 1,861 Other 248,478 7,338 1,921 77 250,399 7,415 Municipal bonds 168,939 5,382 21,717 4,958 190,656 10,340 Foreign government bonds 11,867 112 - - 11,867 112 Corporate bonds 858,647 37,244 50,340 11,590 908,987 48,834 Other mortgage-backed securities 929,268 19,165 140,561 1,796 1,069,829 20,961 Total fixed maturity securities 2,265,296 70,989 216,134 18,534 2,481,430 89,523 Equity securities (1) 38,764 3,022 8,379 1,308 47,143 4,330 Combined totals $ 2,304,060 $ 74,011 $ 224,513 $ 19,842 $ 2,528,573 $ 93,853 Number of positions with a gross unrealized loss 684 78 762 Fair value as a percentage of total fixed maturities and equity securities fair value 32.0 % 3.1 % 35.1 % (1) Includes nonredeemable (perpetual) preferred stocks, common stocks and closed-end funds . Fixed maturities and equity securities with an investment grade rating represented 64% of the gross unrealized loss as of September 30, 2016. With respect to fixed maturity securities involving securitized financial assets, the underlying collateral cash flows were stress tested to determine there was no adverse change in the present value of cash flows below the amortized cost basis. Credit Losses Nine Months Ended September 30, 2016 2015 Cumulative credit loss (1) Beginning of period $ 7,844 $ 2,877 New credit losses 300 5,162 Increases to previously recognized credit losses 2,480 - Losses related to securities sold or paid down during the period - - End of period $ 10,624 $ 8,039 (1) The cumulative credit loss amounts exclude other-than-temporary impairment losses on securities held as of the periods indicated that the Company intended to sell or it was more likely than not that the Company would be required to sell the security before the recovery of the amortized cost basis. Maturities/Sales of Fixed Maturities and Equity Securities Percent of Total Fair Value September 30, 2016 September 30, December 31, Fair Amortized 2016 2015 Value Cost Estimated expected maturity: Due in 1 year or less 3.8 % 3.1 % $ 287,079 $ 264,641 Due after 1 year through 5 years 27.6 24.2 2,065,099 1,903,694 Due after 5 years through 10 years 37.1 39.6 2,780,699 2,563,365 Due after 10 years through 20 years 19.7 20.9 1,473,916 1,358,717 Due after 20 years 11.8 12.2 887,260 817,158 Total 100.0 % 100.0 % $ 7,494,053 $ 6,907,575 Average option-adjusted duration, in years 5.8 5.8 Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Fixed maturity securities Proceeds received $ 94,706 $ 81,120 $ 351,739 $ 327,641 Gross gains realized 2,966 6,400 13,824 18,631 Gross losses realized (102 ) (3,267 ) (1,542 ) (5,012 ) Equity securities Proceeds received $ 4,479 $ 5,633 $ 17,101 $ 26,442 Gross gains realized 790 680 1,960 5,878 Gross losses realized (21 ) (397 ) (862 ) (514 ) Unrealized Gains and Losses on Fixed Maturities and Equity Securities Net unrealized investment gains and losses are computed as the difference between fair value and amortized cost for fixed maturities or cost for equity securities. Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Net unrealized investment gains (losses) on fixed maturity securities, net of tax Beginning of period $ 371,456 $ 254,827 $ 198,714 $ 336,604 Change in unrealized investment gains and losses 20,827 7,436 188,912 (69,787 ) Reclassification of net realized investment (gains) losses to net income (11,072 ) (835 ) (6,415 ) (5,389 ) End of period $ 381,211 $ 261,428 $ 381,211 $ 261,428 Net unrealized investment gains (losses) on equity securities, net of tax Beginning of period $ 8,183 $ 3,399 $ 2,649 $ 6,988 Change in unrealized investment gains and losses (2,052 ) (2,584 ) 4,846 (5,774 ) Reclassification of net realized investment (gains) losses to net income 2,211 (169 ) 847 (568 ) End of period $ 8,342 $ 646 $ 8,342 $ 646 Offsetting of Assets and Liabilities The Company’s derivative instruments (call options) are subject to enforceable master netting arrangements. Collateral support agreements associated with each master netting arrangement provide that the Company will receive or pledge financial collateral in the event minimum thresholds are reached. Net Amounts of Assets/ Gross Liabilities Gross Amounts Not Offset Amounts Presented in the Consolidated Offset in the in the Balance Sheets Consolidated Consolidated Cash Gross Balance Balance Financial Collateral Net Amounts Sheets Sheets Instruments Received Amount September 30, 2016 Asset derivatives: Free-standing derivatives $ 4,534 - $ 4,534 - $ 4,770 $ (236 ) December 31, 2015 Asset derivatives: Free-standing derivatives 2,501 - 2,501 - 2,617 (116 ) Deposits At September 30, 2016 and December 31, 2015, fixed maturity securities with a fair value of $18,309 and $18,312, respectively, were on deposit with governmental agencies as required by law in various states in which the insurance subsidiaries of HMEC conduct business. In addition, at September 30, 2016 and December 31, 2015, fixed maturity securities with a fair value of $620,124 and $621,077, respectively, were on deposit with the Federal Home Loan Bank of Chicago (“FHLB”) as collateral for amounts subject to funding agreements which were equal to $575,000 at both of the respective dates. The deposited securities are included in Fixed Maturities on the Company’s Consolidated Balance Sheets.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Note 3 - Fair Value of Financial Instruments The Company is required under GAAP to disclose estimated fair values for certain financial and nonfinancial assets and liabilities. Fair values of the Company’s insurance contracts other than annuity contracts are not required to be disclosed. However, the estimated fair values of liabilities under all insurance contracts are taken into consideration in the Company’s overall management of interest rate risk through the matching of investment maturities with amounts due under insurance contracts. Information regarding the three-level hierarchy presented below and the valuation methodologies utilized by the Company to estimate fair values at a point in time is included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, specifically in “Note 3 -- Fair Value of Financial Instruments”. Financial Instruments Measured and Carried at Fair Value Fair Value Measurements at Carrying Fair Reporting Date Using Amount Value Level 1 Level 2 Level 3 September 30, 2016 Financial Assets Investments Fixed maturities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 472,156 $ 472,156 $ - $ 468,694 $ 3,462 Other, including U.S. Treasury securities 488,127 488,127 13,894 474,233 - Municipal bonds 1,778,741 1,778,741 - 1,733,575 45,166 Foreign government bonds 79,839 79,839 - 79,839 - Corporate bonds 2,953,338 2,953,338 7,341 2,868,376 77,621 Other mortgage-backed securities 1,721,852 1,721,852 - 1,623,165 98,687 Total fixed maturities 7,494,053 7,494,053 21,235 7,247,882 224,936 Equity securities 137,640 137,640 110,398 27,236 6 Short-term investments 214,206 214,206 213,450 756 - Other investments 16,034 16,034 - 16,034 - Totals 7,861,933 7,861,933 345,083 7,291,908 224,942 Financial Liabilities Investment contract and life policy reserves, embedded derivatives 80 80 - 80 - Other policyholder funds, embedded derivatives 55,179 55,179 - - 55,179 December 31, 2015 Financial Assets Investments Fixed maturities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 504,414 $ 504,414 $ - $ 504,414 $ - Other, including U.S. Treasury securities 546,111 546,111 14,258 531,853 - Municipal bonds 1,708,943 1,708,943 - 1,678,564 30,379 Foreign government bonds 73,617 73,617 - 73,617 - Corporate bonds 2,779,415 2,779,415 10,195 2,701,645 67,575 Other mortgage-backed securities 1,478,840 1,478,840 - 1,403,374 75,466 Total fixed maturities 7,091,340 7,091,340 24,453 6,893,467 173,420 Equity securities 99,797 99,797 86,088 13,703 6 Short-term investments 174,152 174,152 169,764 4,388 - Other investments 14,001 14,001 - 14,001 - Totals 7,379,290 7,379,290 280,305 6,925,559 173,426 Financial Liabilities Investment contract and life policy reserves, embedded derivatives 14 14 - 14 - Other policyholder funds, embedded derivatives 39,021 39,021 - - 39,021 Financial Financial Assets Liabilities(1) Municipal Bonds Corporate Bonds Mortgage- Backed Securities(2) Total Fixed Maturities Equity Securities Total Beginning balance, July 1, 2016 $ 47,647 $ 73,408 $ 96,581 $ 217,636 $ 6 $ 217,642 $ 47,706 Transfers into Level 3 (3) - 10,375 7,655 18,030 - 18,030 - Transfers out of Level 3 (3) - (5,967 ) (788 ) (6,755 ) - (6,755 ) - Total gains or losses Net realized gains (losses) included in net income related to financial assets - 1 (56 ) (55 ) - (55 ) - Net realized (gains) losses included in net income related to financial liabilities - - - - - - 68 Net unrealized gains (losses) included in other comprehensive income (2,361 ) 1,292 3,951 2,882 - 2,882 - Purchases - - - - - - - Issuances - - - - - - 6,710 Sales - - - - - - - Settlements - - - - - - - Paydowns, maturities and distributions (120 ) (1,488 ) (5,194 ) (6,802 ) - (6,802 ) 695 Ending balance, September 30, 2016 $ 45,166 $ 77,621 $ 102,149 $ 224,936 $ 6 $ 224,942 $ 55,179 Beginning balance, January 1, 2016 $ 30,379 $ 67,575 $ 75,466 $ 173,420 $ 6 $ 173,426 $ 39,021 Transfers into Level 3 (3) 14,751 21,451 32,281 68,483 - 68,483 - Transfers out of Level 3 (3) - (5,967 ) (788 ) (6,755 ) - (6,755 ) - Total gains or losses Net realized gains (losses) included in net income related to financial assets - (656 ) (56 ) (712 ) - (712 ) - Net realized (gains) losses included in net income related to financial liabilities - - - - - - 2,066 Net unrealized gains (losses) included in other comprehensive income 420 3,073 4,173 7,666 - 7,666 - Purchases - - - - - - - Issuances - - - - - - 15,194 Sales - - - - - - - Settlements - - - - - - - Paydowns, maturities and distributions (384 ) (7,855 ) (8,927 ) (17,166 ) - (17,166 ) (1,102 ) Ending balance, September 30, 2016 $ 45,166 $ 77,621 $ 102,149 $ 224,936 $ 6 $ 224,942 $ 55,179 (1) Represents embedded derivatives, all related to the Company’s fixed indexed annuity (“FIA”) products, reported in Other Policyholder Funds in the Company’s Consolidated Balance Sheets. (2) Includes U.S. Government and federally sponsored agency obligations for mortgage-backed securities and other mortgage-backed securities. (3) Transfers into and out of Level 3 during the three and nine months ended September 30, 2016 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 having occurred at the end of the reporting period in which the transfers were determined. Financial Financial Assets Liabilities(1) Municipal Bonds Corporate Bonds Other Mortgage- Backed Securities Total Fixed Maturities Equity Securities Total Beginning balance, July 1, 2015 $ 29,669 $ 72,724 $ 84,700 $ 187,093 $ 6 $ 187,099 $ 26,719 Transfers into Level 3 (2) - - 505 505 - 505 - Transfers out of Level 3 (2) - - - - - - - Total gains or losses Net realized gains (losses) included in net income related to financial assets - (164 ) - (164 ) 1 (163 ) - Net realized (gains) losses included in net income related to financial liabilities - - - - - - (1,328 ) Net unrealized gains (losses) included in other comprehensive income 1,464 326 167 1,957 - 1,957 - Purchases - - - - - - - Issuances - - - - - - 6,899 Sales - - - - (1 ) (1 ) - Settlements - - - - - - - Paydowns, maturities and distributions (122 ) (2,638 ) (1,286 ) (4,046 ) - (4,046 ) (535 ) Ending balance, September 30, 2015 $ 31,011 $ 70,248 $ 84,086 $ 185,345 $ 6 $ 185,351 $ 31,755 Beginning balance, January 1, 2015 $ 13,628 $ 74,717 $ 82,949 $ 171,294 $ 6 $ 171,300 $ 20,049 Transfers into Level 3 (2) 16,326 5,729 15,685 37,740 - 37,740 - Transfers out of Level 3 (2) - (1,350 ) (9,664 ) (11,014 ) - (11,014 ) - Total gains or losses Net realized gains (losses) included in net income related to financial assets - 1,087 - 1,087 1 1,088 - Net realized (gains) losses included in net income related to financial liabilities - - - - - - (1,795 ) Net unrealized gains (losses) included in other comprehensive income 1,359 (758 ) (268 ) 333 - 333 - Purchases - - - - - - - Issuances - - - - - - 14,811 Sales - (476 ) - (476 ) (1 ) (477 ) - Settlements - - - - - - - Paydowns, maturities and distributions (302 ) (8,701 ) (4,616 ) (13,619 ) - (13,619 ) (1,310 ) Ending balance, September 30, 2015 $ 31,011 $ 70,248 $ 84,086 $ 185,345 $ 6 $ 185,351 $ 31,755 (1) Represents embedded derivatives, all related to the Company’s fixed indexed annuity (“FIA”) products, reported in Other Policyholder Funds in the Company’s Consolidated Balance Sheets. (2) Transfers into and out of Level 3 during the three and nine months ended September 30, 2015 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 having occurred at the end of the reporting period in which the transfers were determined. At September 30, 2016 and 2015, there were no realized gains or losses included in earnings that were attributable to changes in the fair value of Level 3 assets still held. For the three and nine months ended September 30, 2016, realized gains/(losses) of ($68) and ($2,066), respectively, were included in earnings that were attributable to the changes in the fair value of Level 3 liabilities (embedded derivatives) still held; for the three and nine months ended September 30, 2015, the respective amounts were $1,328 and $1,795. The valuation techniques and significant unobservable inputs used in the fair value measurement for financial assets classified as Level 3 are subject to the control processes as described in “Note 3 -- Fair Value of Financial Instruments -- Investments” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. Generally, valuation techniques for fixed maturity securities include spread pricing, matrix pricing and discounted cash flow methodologies; include inputs such as quoted prices for identical or similar securities that are less liquid; and are based on lower levels of trading activity than securities classified as Level 2. The valuation techniques and significant unobservable inputs used in the fair value measurement for equity securities classified as Level 3 use similar valuation techniques and significant unobservable inputs as those used for fixed maturities. The sensitivity of the estimated fair values to changes in the significant unobservable inputs for fixed maturities and equity securities included in Level 3 generally relates to interest rate spreads, illiquidity premiums and default rates. Significant spread widening in isolation will adversely impact the overall valuation, while significant spread tightening will lead to substantial valuation increases. Significant increases (decreases) in illiquidity premiums in isolation will result in substantially lower (higher) valuations. Significant increases (decreases) in expected default rates in isolation will result in substantially lower (higher) valuations. Financial Instruments Not Carried at Fair Value; Disclosure Required The Company has various other financial assets and financial liabilities used in the normal course of business that are not carried at fair value, but for which fair value disclosure is required. Fair Value Measurements at Carrying Fair Reporting Date Using Amount Value Level 1 Level 2 Level 3 September 30, 2016 Financial Assets Investments Other investments $ 150,661 $ 155,183 $ - $ - $ 155,183 Financial Liabilities Investment contract and life policy reserves, fixed annuity contracts 4,308,100 4,179,033 - - 4,179,033 Investment contract and life policy reserves, account values on life contracts 78,741 82,642 - - 82,642 Other policyholder funds 651,205 651,205 - 575,247 75,958 Long-term debt 247,146 267,634 267,634 - - December 31, 2015 Financial Assets Investments Other investments $ 148,759 $ 153,228 $ - $ - $ 153,228 Financial Liabilities Investment contract and life policy reserves, fixed annuity contracts 4,072,102 4,049,840 - - 4,049,840 Investment contract and life policy reserves, account values on life contracts 77,429 81,360 - - 81,360 Other policyholder funds 653,631 653,631 - 575,104 78,527 Long-term debt 246,975 252,700 252,700 - -

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	In February 2014, the Company began offering fixed indexed annuity products (“FIA”), which are deferred fixed annuities that guarantee the return of principal to the contractholder and credit interest based on a percentage of the gain in a specified market index. In October 2015, the Company began offering indexed universal life products (“IUL”), which also credit interest based on a percentage of the gain in a specified market index. When deposits are received for FIA and IUL contracts, a portion is used to purchase derivatives consisting of call options on the applicable market indices to fund the index credits due to FIA and IUL policyholders. For the Company, substantially all such call options are one-year options purchased to match the funding requirements of the underlying contracts. The call options are carried at fair value with the change in fair value included in Net Realized Investment Gains (Losses), a component of revenues, in the Consolidated Statements of Operations. The change in fair value of derivatives includes the gains or losses recognized at the expiration of the option term or early termination and the changes in fair value for open positions. Call options are not purchased to fund the index liabilities which may arise after the next deposit anniversary date. On the respective anniversary dates of the indexed deposits, the index used to compute the annual index credit is reset and new one-year call options are purchased to fund the next annual index credit. The cost of these purchases is managed through the terms of the FIA and IUL contracts, which permit changes to index return caps, participation rates and/or asset fees, subject to guaranteed minimums on each contract’s anniversary date. By adjusting the index return caps, participation rates or asset fees, crediting rates generally can be managed except in cases where the contractual features would prevent further modifications. The future annual index credits on fixed indexed annuities are treated as a “series of embedded derivatives” over the expected life of the applicable contract with a corresponding reserve recorded. For the indexed universal life contracts, the embedded derivative represents a single year liability for the index return. The Company carries all derivative instruments as assets or liabilities in the Consolidated Balance Sheets at fair value. The Company elected to not use hedge accounting for derivative transactions related to the FIA and IUL products. As a result, the Company records the purchased call options and the embedded derivatives related to the provision of a contingent return at fair value, with changes in the fair value of the derivatives recognized immediately in the Consolidated Statements of Operations. September 30, December 31, 2016 2015 Assets Derivative instruments, included in Short-term and Other Investments $ 4,534 $ 2,501 Liabilities Fixed indexed annuities - embedded derivatives, included in Other Policyholder Funds 55,179 39,021 Indexed universal life - embedded derivatives, included in Investment Contract and Life Policy Reserves 80 14 In general, the change in the fair value of the embedded derivatives related to the fixed indexed annuities will not correspond to the change in fair value of the purchased call options because the purchased call options are one-year options while the options valued in those embedded derivatives represent the rights of the policyholder to receive index credits over the entire period the fixed indexed annuities are expected to be in force, which typically exceeds 10 years. Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Change in fair value of derivatives (1): Revenues Net realized investment gains (losses) $ 562 $ (1,564 ) $ 422 $ (2,171 ) Change in fair value of embedded derivatives: Revenues Net realized investment gains (losses) (76 ) 1,328 (2,077 ) 1,795 (1) Includes the gains or losses recognized at the expiration of the option term or early termination and the changes in fair value for open options. The Company’s strategy attempts to mitigate potential risk of loss under these agreements through a regular monitoring process, which evaluates the program’s effectiveness. The Company is exposed to risk of loss in the event of nonperformance by the counterparties and, accordingly, option contracts are purchased from multiple counterparties, which are evaluated for creditworthiness prior to purchase of the contracts. All of these options have been purchased from nationally recognized financial institutions with a Standard and Poor’s/Moody’s long-term credit rating of “BBB+”/“Baa1” or higher at the time of purchase and the maximum credit exposure to any single counterparty is subject to concentration limits. The Company also obtains credit support agreements that allow it to request the counterparty to provide collateral when the fair value of the exposure to the counterparty exceeds specified amounts. September 30, 2016 December 31, 2015 Credit Rating (1) Notional Fair Notional Fair Counterparty S&P Moody’s Amount Value Amount Value Bank of America, N.A. A A1 $ 38,500 $ 1,598 $ 17,000 $ 5 Barclays Bank PLC A- A2 41,400 720 7,600 137 Citigroup Inc. BBB+ Baa1 5,800 2 17,300 845 Credit Suisse International A A2 64,300 1,442 12,000 167 Societe Generale A A2 23,200 772 80,800 1,347 Total $ 173,200 $ 4,534 $ 134,700 $ 2,501 (1) As assigned by Standard & Poor’s Corporation (“S&P”) and Moody’s Investors Service, Inc. (“Moody’s”). As of September 30, 2016 and December 31, 2015, the Company held $4,770 and $2,617, respectively, of cash received from counterparties for derivative collateral, which is included in Other Liabilities on the Consolidated Balance Sheets. This derivative collateral limits the Company’s maximum amount of economic loss due to credit risk that would be incurred if parties to the call options failed completely to perform according to the terms of the contracts to $250 per counterparty.

Debt

Debt	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt	Note 5 - Debt Indebtedness outstanding was as follows: September 30, December 31, 2016 2015 Short-term debt: Bank Credit Facility, expires July 30, 2019 $ - $ - Long-term debt: 4.50% Senior Notes, due December 1, 2025. Aggregate principal amount of $250,000 less unaccrued discount of $617 and $654 (4.5% imputed rate) and unamortized debt issuance costs of $2,237 and $2,371 247,146 246,975 The Credit Agreement with Financial Institutions (“Bank Credit Facility”) and 4.50% Senior Notes due 2025 (“Senior Notes due 2025”) are described in “Notes to Consolidated Financial Statements -- Note 7 -- Debt” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.

Reinsurance

Reinsurance	9 Months Ended
	Sep. 30, 2016
Insurance [Abstract]
Reinsurance	Note 6 - Reinsurance The Company recognizes the cost of reinsurance premiums over the contract periods for such premiums in proportion to the insurance protection provided. Amounts recoverable from reinsurers for unpaid claims and claim settlement expenses, including estimated amounts for unsettled claims, claims incurred but not yet reported and policy benefits, are estimated in a manner consistent with the insurance liability associated with the policy. Ceded to Assumed Gross Other from Other Net Amount Companies Companies Amount Three months ended September 30, 2016 Premiums written and contract deposits $ 356,155 $ 5,555 $ 934 $ 351,534 Premiums and contract charges earned 195,654 5,584 980 191,050 Benefits, claims and settlement expenses 139,114 4,642 1,238 135,710 Three months ended September 30, 2015 Premiums written and contract deposits $ 331,223 $ 5,952 $ 927 $ 326,198 Premiums and contract charges earned 187,813 5,961 960 182,812 Benefits, claims and settlement expenses 123,061 3,034 1,154 121,181 Nine months ended September 30, 2016 Premiums written and contract deposits $ 960,945 $ 17,244 $ 2,881 $ 946,582 Premiums and contract charges earned 579,283 17,305 2,882 564,860 Benefits, claims and settlement expenses 422,352 21,748 3,027 403,631 Nine months ended September 30, 2015 Premiums written and contract deposits $ 966,867 $ 18,260 $ 2,720 $ 951,327 Premiums and contract charges earned 560,818 18,608 2,717 544,927 Benefits, claims and settlement expenses 378,939 13,397 2,597 368,139

Commitments

Commitments	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments	Note 7 - Commitments Investment Commitments From time to time, the Company has outstanding commitments to purchase investments and/or commitments to lend funds under bridge loans. Unfunded commitments to purchase investments were $184,825 and $147,139 at September 30, 2016 and December 31, 2015, respectively.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Information	Note 8 - Segment Information The Company conducts and manages its business through four segments. The three operating segments, representing the major lines of insurance business, are: (1) property and casualty insurance, primarily personal lines automobile and homeowners products; (2) retirement annuity products, primarily tax-qualified fixed and variable deposits; and (3) life insurance. The Company does not allocate the impact of corporate-level transactions to the insurance segments, consistent with the basis for management’s evaluation of the results of those segments, but classifies those items in the fourth segment, corporate and other. In addition to ongoing transactions such as corporate debt service, realized investment gains and losses and certain public company expenses, such items also have included corporate debt retirement costs/gains, when applicable. Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Insurance premiums and contract charges earned Property and casualty $ 155,727 $ 149,210 $ 461,520 $ 443,616 Annuity 6,448 6,541 18,614 19,280 Life 28,875 27,061 84,726 82,031 Total $ 191,050 $ 182,812 $ 564,860 $ 544,927 Net investment income Property and casualty $ 10,018 $ 7,350 $ 28,997 $ 25,790 Annuity 66,174 56,271 186,950 169,846 Life 18,852 17,612 55,338 53,342 Corporate and other 15 5 44 17 Intersegment eliminations (212 ) (222 ) (644 ) (671 ) Total $ 94,847 $ 81,016 $ 270,685 $ 248,324 Net income (loss) Property and casualty $ 6,715 $ 11,253 $ 16,047 $ 32,120 Annuity 15,732 8,716 39,348 32,973 Life 4,583 3,619 13,072 10,647 Corporate and other (107 ) (1,604 ) (4,525 ) (3,298 ) Total $ 26,923 $ 21,984 $ 63,942 $ 72,442 Septembe r 30, December 31, 2016 2015 Assets Property and casualty $ 1,147,850 $ 1,098,415 Annuity 7,437,926 7,001,411 Life 1,997,990 1,862,719 Corporate and other 141,162 131,635 Intersegment eliminations (33,851 ) (37,208 ) Total $ 10,691,077 $ 10,056,972

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Future Policy Benefits, Interest-sensitive Life Contract Liabilities and Annuity Contract Liabilities	September 30, December 31, 2016 2015 Investment contract reserves $ 4,308,100 $ 4,072,102 Life policy reserves 1,077,807 1,054,740 Total $ 5,385,907 $ 5,126,842
Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive income (loss) represents the accumulated change in shareholders’ equity from transactions and other events and circumstances from non-shareholder sources. For the Company, accumulated other comprehensive income (loss) includes the after tax change in net unrealized gains and losses on fixed maturities and equity securities and the after tax change in net funded status of pension obligations for the period as shown in the Consolidated Statement of Changes in Shareholders’ Equity. Unrealized Gains and Losses on Fixed Maturities and Equity Defined Securities (1)(2) Benefit Plans (1) Total (1) Beginning balance, July 1, 2016 $ 329,653 $ (11,794 ) $ 317,859 Other comprehensive income (loss) before reclassifications 9,912 - 9,912 Amounts reclassified from accumulated other comprehensive income (loss) (2,274 ) - (2,274 ) Net current period other comprehensive income (loss) 7,638 - 7,638 Ending balance, September 30, 2016 $ 337,291 $ (11,794 ) $ 325,497 Beginning balance, January 1, 2016 $ 175,167 $ (11,794 ) $ 163,373 Other comprehensive income (loss) before reclassifications 167,692 - 167,692 Amounts reclassified from accumulated other comprehensive income (loss) (5,568 ) - (5,568 ) Net current period other comprehensive income (loss) 162,124 - 162,124 Ending balance, September 30, 2016 $ 337,291 $ (11,794 ) $ 325,497 (1) All amounts are net of tax. (2) The pretax amounts reclassified from accumulated other comprehensive income (loss), $3,499 and $8,566, are included in net realized investment gains and losses and the related tax expenses, $1,225 and $2,998, are included in income tax expense in the Consolidated Statements of Operations for the three and nine months ended September 30, 2016, respectively. Unrealized Gains and Losses on Fixed Maturities and Equity Defined Securities (1)(2) Benefit Plans (1) Total (1) Beginning balance, July 1, 2015 $ 223,786 $ (12,953 ) $ 210,833 Other comprehensive income (loss) before reclassifications 3,836 - 3,836 Amounts reclassified from accumulated other comprehensive income (loss) (1,004 ) - (1,004 ) Net current period other comprehensive income (loss) 2,832 - 2,832 Ending balance, September 30, 2015 $ 226,618 $ (12,953 ) $ 213,665 Beginning balance, January 1, 2015 $ 297,554 $ (12,953 ) $ 284,601 Other comprehensive income (loss) before reclassifications (64,979 ) - (64,979 ) Amounts reclassified from accumulated other comprehensive income (loss) (5,957 ) - (5,957 ) Net current period other comprehensive income (loss) (70,936 ) - (70,936 ) Ending balance, September 30, 2015 $ 226,618 $ (12,953 ) $ 213,665 (1) All amounts are net of tax. (2) The pretax amounts reclassified from accumulated other comprehensive income (loss), $1,545 and $9,165, are included in net realized investment gains and losses and the related tax expenses, $541 and $3,208, are included in income tax expense in the Consolidated Statements of Operations for the three and nine months ended September 30, 2015, respectively. Comparative information for elements that are not required to be reclassified in their entirety to net income in the same reporting period is located in “Note 2 -- Investments -- Unrealized Gains and Losses on Fixed Maturities and Equity Securities”.
Adopted Accounting Standards	Adopted Accounting Standards Presentation of Debt Issuance Costs Effective January 1, 2016, the Company adopted accounting guidance which was issued to simplify the presentation of costs incurred to issue debt securities. The guidance requires debt issuance costs associated with specific debt securities to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. Costs incurred related to line of credit arrangements continue to be presented as an asset in the consolidated balance sheet. Also, the guidance does not affect the recognition and measurement of debt issuance costs. The guidance required retrospective application. As a result of this adoption, the following items in the Company’s December 31, 2015 Consolidated Balance Sheet were each reduced by $2,371: Other Assets, Total Assets, Long-term Debt, Total Liabilities and Total Liabilities and Shareholders’ Equity. Net income per share (basic and diluted) did not change as a result of the adopted accounting change.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Investment Contract And Life Policy Reserves	This table summarizes the Company’s investment contract and life policy reserves. September 30, December 31, 2016 2015 Investment contract reserves $ 4,308,100 $ 4,072,102 Life policy reserves 1,077,807 1,054,740 Total $ 5,385,907 $ 5,126,842
Accumulated Other Comprehensive Income (Loss)	The following tables reconcile these components. Unrealized Gains and Losses on Fixed Maturities and Equity Defined Securities (1)(2) Benefit Plans (1) Total (1) Beginning balance, July 1, 2016 $ 329,653 $ (11,794 ) $ 317,859 Other comprehensive income (loss) before reclassifications 9,912 - 9,912 Amounts reclassified from accumulated other comprehensive income (loss) (2,274 ) - (2,274 ) Net current period other comprehensive income (loss) 7,638 - 7,638 Ending balance, September 30, 2016 $ 337,291 $ (11,794 ) $ 325,497 Beginning balance, January 1, 2016 $ 175,167 $ (11,794 ) $ 163,373 Other comprehensive income (loss) before reclassifications 167,692 - 167,692 Amounts reclassified from accumulated other comprehensive income (loss) (5,568 ) - (5,568 ) Net current period other comprehensive income (loss) 162,124 - 162,124 Ending balance, September 30, 2016 $ 337,291 $ (11,794 ) $ 325,497 (1) All amounts are net of tax. (2) The pretax amounts reclassified from accumulated other comprehensive income (loss), $3,499 and $8,566, are included in net realized investment gains and losses and the related tax expenses, $1,225 and $2,998, are included in income tax expense in the Consolidated Statements of Operations for the three and nine months ended September 30, 2016, respectively. Unrealized Gains and Losses on Fixed Maturities and Equity Defined Securities (1)(2) Benefit Plans (1) Total (1) Beginning balance, July 1, 2015 $ 223,786 $ (12,953 ) $ 210,833 Other comprehensive income (loss) before reclassifications 3,836 - 3,836 Amounts reclassified from accumulated other comprehensive income (loss) (1,004 ) - (1,004 ) Net current period other comprehensive income (loss) 2,832 - 2,832 Ending balance, September 30, 2015 $ 226,618 $ (12,953 ) $ 213,665 Beginning balance, January 1, 2015 $ 297,554 $ (12,953 ) $ 284,601 Other comprehensive income (loss) before reclassifications (64,979 ) - (64,979 ) Amounts reclassified from accumulated other comprehensive income (loss) (5,957 ) - (5,957 ) Net current period other comprehensive income (loss) (70,936 ) - (70,936 ) Ending balance, September 30, 2015 $ 226,618 $ (12,953 ) $ 213,665 (1) All amounts are net of tax. (2) The pretax amounts reclassified from accumulated other comprehensive income (loss), $1,545 and $9,165, are included in net realized investment gains and losses and the related tax expenses, $541 and $3,208, are included in income tax expense in the Consolidated Statements of Operations for the three and nine months ended September 30, 2015, respectively.

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Unrealized gains and losses on fixed maturities and equity securities	Amortized Unrealized Unrealized Fair OTTI in Cost/Cost Gains Losses Value AOCI (1) September 30, 2016 Fixed maturity securities U.S. Government and federally sponsored agency obligations (2): Mortgage-backed securities $ 419,651 $ 52,772 $ 267 $ 472,156 $ - Other, including U.S. Treasury securities 449,016 39,383 272 488,127 - Municipal bonds 1,555,326 228,185 4,770 1,778,741 (1,899 ) Foreign government bonds 71,402 8,437 - 79,839 - Corporate bonds 2,720,987 239,109 6,758 2,953,338 (340 ) Other mortgage-backed securities 1,691,193 40,302 9,643 1,721,852 1,700 Totals $ 6,907,575 $ 608,188 $ 21,710 $ 7,494,053 $ (539 ) Equity securities (3) $ 124,806 $ 14,355 $ 1,521 $ 137,640 $ - December 31, 2015 Fixed maturity securities U.S. Government and federally sponsored agency obligations (2): Mortgage-backed securities $ 461,862 $ 44,413 $ 1,861 $ 504,414 $ - Other, including U.S. Treasury securities 532,373 21,153 7,415 546,111 - Municipal bonds 1,553,603 165,680 10,340 1,708,943 (4,140 ) Foreign government bonds 67,441 6,288 112 73,617 - Corporate bonds 2,687,376 140,873 48,834 2,779,415 - Other mortgage-backed securities 1,482,971 16,830 20,961 1,478,840 1,382 Totals $ 6,785,626 $ 395,237 $ 89,523 $ 7,091,340 $ (2,758 ) Equity securities (3) $ 95,722 $ 8,405 $ 4,330 $ 99,797 $ - (1) Related to securities for which an unrealized loss was bifurcated to distinguish the credit-related portion and the portion driven by other market factors. Represents the amount of other-than-temporary impairment losses in AOCI which was not included in earnings; amounts also include unrealized gains/(losses) on such impaired securities relating to changes in the fair value of those securities subsequent to the impairment measurement date. (2) Fair value includes securities issued by Federal National Mortgage Association (“FNMA”) of $203,381 and $231,294; Federal Home Loan Mortgage Corporation (“FHLMC”) of $302,472 and $363,957; and Government National Mortgage Association (“GNMA”) of $122,311 and $130,940 as of September 30, 2016 and December 31, 2015, respectively. (3) Includes nonredeemable (perpetual) preferred stocks, common stocks and closed-end funds.
Summary of fair value and gross unrealized losses of fixed maturity securities and equity securities in an unrealized loss position	12 Months or Less More than 12 Months Total Gross Gross Gross Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses September 30, 2016 Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 9,701 $ 60 $ 3,564 $ 207 $ 13,265 $ 267 Other 27,728 272 - - 27,728 272 Municipal bonds 53,583 879 16,768 3,891 70,351 4,770 Foreign government bonds - - - - - - Corporate bonds 114,009 1,514 63,800 5,244 177,809 6,758 Other mortgage-backed securities 266,884 5,447 207,444 4,196 474,328 9,643 Total fixed maturity securities 471,905 8,172 291,576 13,538 763,481 21,710 Equity securities (1) 15,494 885 8,603 636 24,097 1,521 Combined totals $ 487,399 $ 9,057 $ 300,179 $ 14,174 $ 787,578 $ 23,231 Number of positions with a gross unrealized loss 201 107 308 Fair value as a percentage of total fixed maturities and equity securities fair value 6.4 % 3.9 % 10.3 % December 31, 2015 Fixed maturity securities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 48,097 $ 1,748 $ 1,595 $ 113 $ 49,692 $ 1,861 Other 248,478 7,338 1,921 77 250,399 7,415 Municipal bonds 168,939 5,382 21,717 4,958 190,656 10,340 Foreign government bonds 11,867 112 - - 11,867 112 Corporate bonds 858,647 37,244 50,340 11,590 908,987 48,834 Other mortgage-backed securities 929,268 19,165 140,561 1,796 1,069,829 20,961 Total fixed maturity securities 2,265,296 70,989 216,134 18,534 2,481,430 89,523 Equity securities (1) 38,764 3,022 8,379 1,308 47,143 4,330 Combined totals $ 2,304,060 $ 74,011 $ 224,513 $ 19,842 $ 2,528,573 $ 93,853 Number of positions with a gross unrealized loss 684 78 762 Fair value as a percentage of total fixed maturities and equity securities fair value 32.0 % 3.1 % 35.1 % (1) Includes nonredeemable (perpetual) preferred stocks, common stocks and closed-end funds .
Summary of cumulative credit losses	Nine Months Ended September 30, 2016 2015 Cumulative credit loss (1) Beginning of period $ 7,844 $ 2,877 New credit losses 300 5,162 Increases to previously recognized credit losses 2,480 - Losses related to securities sold or paid down during the period - - End of period $ 10,624 $ 8,039 (1) The cumulative credit loss amounts exclude other-than-temporary impairment losses on securities held as of the periods indicated that the Company intended to sell or it was more likely than not that the Company would be required to sell the security before the recovery of the amortized cost basis.
Distribution of the Company's fixed maturity portfolio by estimated expected maturity	Percent of Total Fair Value September 30, 2016 September 30, December 31, Fair Amortized 2016 2015 Value Cost Estimated expected maturity: Due in 1 year or less 3.8 % 3.1 % $ 287,079 $ 264,641 Due after 1 year through 5 years 27.6 24.2 2,065,099 1,903,694 Due after 5 years through 10 years 37.1 39.6 2,780,699 2,563,365 Due after 10 years through 20 years 19.7 20.9 1,473,916 1,358,717 Due after 20 years 11.8 12.2 887,260 817,158 Total 100.0 % 100.0 % $ 7,494,053 $ 6,907,575 Average option-adjusted duration, in years 5.8 5.8
Proceeds received from sales of fixed maturities and equity securities	Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Fixed maturity securities Proceeds received $ 94,706 $ 81,120 $ 351,739 $ 327,641 Gross gains realized 2,966 6,400 13,824 18,631 Gross losses realized (102 ) (3,267 ) (1,542 ) (5,012 ) Equity securities Proceeds received $ 4,479 $ 5,633 $ 17,101 $ 26,442 Gross gains realized 790 680 1,960 5,878 Gross losses realized (21 ) (397 ) (862 ) (514 )
Reconciliation of net unrealized investment gains (losses) on fixed maturity securities and equity securities	Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Net unrealized investment gains (losses) on fixed maturity securities, net of tax Beginning of period $ 371,456 $ 254,827 $ 198,714 $ 336,604 Change in unrealized investment gains and losses 20,827 7,436 188,912 (69,787 ) Reclassification of net realized investment (gains) losses to net income (11,072 ) (835 ) (6,415 ) (5,389 ) End of period $ 381,211 $ 261,428 $ 381,211 $ 261,428 Net unrealized investment gains (losses) on equity securities, net of tax Beginning of period $ 8,183 $ 3,399 $ 2,649 $ 6,988 Change in unrealized investment gains and losses (2,052 ) (2,584 ) 4,846 (5,774 ) Reclassification of net realized investment (gains) losses to net income 2,211 (169 ) 847 (568 ) End of period $ 8,342 $ 646 $ 8,342 $ 646
Offsetting assets and liability	Net Amounts of Assets/ Gross Liabilities Gross Amounts Not Offset Amounts Presented in the Consolidated Offset in the in the Balance Sheets Consolidated Consolidated Cash Gross Balance Balance Financial Collateral Net Amounts Sheets Sheets Instruments Received Amount September 30, 2016 Asset derivatives: Free-standing derivatives $ 4,534 - $ 4,534 - $ 4,770 $ (236 ) December 31, 2015 Asset derivatives: Free-standing derivatives 2,501 - 2,501 - 2,617 (116 )

Fair Value of Financial Instr20

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Summary of Company's fair value hierarchy measured at recurring basis	The following table presents the Company’s fair value hierarchy for those assets and liabilities measured and carried at fair value on a recurring basis. At September 30, 2016, these Level 3 invested assets comprised 2.8% of the Company’s total investment portfolio fair value. Fair Value Measurements at Carrying Fair Reporting Date Using Amount Value Level 1 Level 2 Level 3 September 30, 2016 Financial Assets Investments Fixed maturities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 472,156 $ 472,156 $ - $ 468,694 $ 3,462 Other, including U.S. Treasury securities 488,127 488,127 13,894 474,233 - Municipal bonds 1,778,741 1,778,741 - 1,733,575 45,166 Foreign government bonds 79,839 79,839 - 79,839 - Corporate bonds 2,953,338 2,953,338 7,341 2,868,376 77,621 Other mortgage-backed securities 1,721,852 1,721,852 - 1,623,165 98,687 Total fixed maturities 7,494,053 7,494,053 21,235 7,247,882 224,936 Equity securities 137,640 137,640 110,398 27,236 6 Short-term investments 214,206 214,206 213,450 756 - Other investments 16,034 16,034 - 16,034 - Totals 7,861,933 7,861,933 345,083 7,291,908 224,942 Financial Liabilities Investment contract and life policy reserves, embedded derivatives 80 80 - 80 - Other policyholder funds, embedded derivatives 55,179 55,179 - - 55,179 December 31, 2015 Financial Assets Investments Fixed maturities U.S. Government and federally sponsored agency obligations: Mortgage-backed securities $ 504,414 $ 504,414 $ - $ 504,414 $ - Other, including U.S. Treasury securities 546,111 546,111 14,258 531,853 - Municipal bonds 1,708,943 1,708,943 - 1,678,564 30,379 Foreign government bonds 73,617 73,617 - 73,617 - Corporate bonds 2,779,415 2,779,415 10,195 2,701,645 67,575 Other mortgage-backed securities 1,478,840 1,478,840 - 1,403,374 75,466 Total fixed maturities 7,091,340 7,091,340 24,453 6,893,467 173,420 Equity securities 99,797 99,797 86,088 13,703 6 Short-term investments 174,152 174,152 169,764 4,388 - Other investments 14,001 14,001 - 14,001 - Totals 7,379,290 7,379,290 280,305 6,925,559 173,426 Financial Liabilities Investment contract and life policy reserves, embedded derivatives 14 14 - 14 - Other policyholder funds, embedded derivatives 39,021 39,021 - - 39,021
Table for reconciliations for all Level 3 assets measured at fair value on a recurring basis	The Company did not have any transfers between Levels 1 and 2 during the nine months ended September 30, 2016. The following table presents reconciliations for the periods indicated for all Level 3 assets and liabilities measured at fair value on a recurring basis. Financial Financial Assets Liabilities(1) Municipal Bonds Corporate Bonds Mortgage- Backed Securities(2) Total Fixed Maturities Equity Securities Total Beginning balance, July 1, 2016 $ 47,647 $ 73,408 $ 96,581 $ 217,636 $ 6 $ 217,642 $ 47,706 Transfers into Level 3 (3) - 10,375 7,655 18,030 - 18,030 - Transfers out of Level 3 (3) - (5,967 ) (788 ) (6,755 ) - (6,755 ) - Total gains or losses Net realized gains (losses) included in net income related to financial assets - 1 (56 ) (55 ) - (55 ) - Net realized (gains) losses included in net income related to financial liabilities - - - - - - 68 Net unrealized gains (losses) included in other comprehensive income (2,361 ) 1,292 3,951 2,882 - 2,882 - Purchases - - - - - - - Issuances - - - - - - 6,710 Sales - - - - - - - Settlements - - - - - - - Paydowns, maturities and distributions (120 ) (1,488 ) (5,194 ) (6,802 ) - (6,802 ) 695 Ending balance, September 30, 2016 $ 45,166 $ 77,621 $ 102,149 $ 224,936 $ 6 $ 224,942 $ 55,179 Beginning balance, January 1, 2016 $ 30,379 $ 67,575 $ 75,466 $ 173,420 $ 6 $ 173,426 $ 39,021 Transfers into Level 3 (3) 14,751 21,451 32,281 68,483 - 68,483 - Transfers out of Level 3 (3) - (5,967 ) (788 ) (6,755 ) - (6,755 ) - Total gains or losses Net realized gains (losses) included in net income related to financial assets - (656 ) (56 ) (712 ) - (712 ) - Net realized (gains) losses included in net income related to financial liabilities - - - - - - 2,066 Net unrealized gains (losses) included in other comprehensive income 420 3,073 4,173 7,666 - 7,666 - Purchases - - - - - - - Issuances - - - - - - 15,194 Sales - - - - - - - Settlements - - - - - - - Paydowns, maturities and distributions (384 ) (7,855 ) (8,927 ) (17,166 ) - (17,166 ) (1,102 ) Ending balance, September 30, 2016 $ 45,166 $ 77,621 $ 102,149 $ 224,936 $ 6 $ 224,942 $ 55,179 (1) Represents embedded derivatives, all related to the Company’s fixed indexed annuity (“FIA”) products, reported in Other Policyholder Funds in the Company’s Consolidated Balance Sheets. (2) Includes U.S. Government and federally sponsored agency obligations for mortgage-backed securities and other mortgage-backed securities. (3) Transfers into and out of Level 3 during the three and nine months ended September 30, 2016 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 having occurred at the end of the reporting period in which the transfers were determined. Financial Financial Assets Liabilities(1) Municipal Bonds Corporate Bonds Other Mortgage- Backed Securities Total Fixed Maturities Equity Securities Total Beginning balance, July 1, 2015 $ 29,669 $ 72,724 $ 84,700 $ 187,093 $ 6 $ 187,099 $ 26,719 Transfers into Level 3 (2) - - 505 505 - 505 - Transfers out of Level 3 (2) - - - - - - - Total gains or losses Net realized gains (losses) included in net income related to financial assets - (164 ) - (164 ) 1 (163 ) - Net realized (gains) losses included in net income related to financial liabilities - - - - - - (1,328 ) Net unrealized gains (losses) included in other comprehensive income 1,464 326 167 1,957 - 1,957 - Purchases - - - - - - - Issuances - - - - - - 6,899 Sales - - - - (1 ) (1 ) - Settlements - - - - - - - Paydowns, maturities and distributions (122 ) (2,638 ) (1,286 ) (4,046 ) - (4,046 ) (535 ) Ending balance, September 30, 2015 $ 31,011 $ 70,248 $ 84,086 $ 185,345 $ 6 $ 185,351 $ 31,755 Beginning balance, January 1, 2015 $ 13,628 $ 74,717 $ 82,949 $ 171,294 $ 6 $ 171,300 $ 20,049 Transfers into Level 3 (2) 16,326 5,729 15,685 37,740 - 37,740 - Transfers out of Level 3 (2) - (1,350 ) (9,664 ) (11,014 ) - (11,014 ) - Total gains or losses Net realized gains (losses) included in net income related to financial assets - 1,087 - 1,087 1 1,088 - Net realized (gains) losses included in net income related to financial liabilities - - - - - - (1,795 ) Net unrealized gains (losses) included in other comprehensive income 1,359 (758 ) (268 ) 333 - 333 - Purchases - - - - - - - Issuances - - - - - - 14,811 Sales - (476 ) - (476 ) (1 ) (477 ) - Settlements - - - - - - - Paydowns, maturities and distributions (302 ) (8,701 ) (4,616 ) (13,619 ) - (13,619 ) (1,310 ) Ending balance, September 30, 2015 $ 31,011 $ 70,248 $ 84,086 $ 185,345 $ 6 $ 185,351 $ 31,755 (1) Represents embedded derivatives, all related to the Company’s fixed indexed annuity (“FIA”) products, reported in Other Policyholder Funds in the Company’s Consolidated Balance Sheets. (2) Transfers into and out of Level 3 during the three and nine months ended September 30, 2015 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 having occurred at the end of the reporting period in which the transfers were determined.
Summary of fair value assets and liabilities measured on nonrecurring basis	The following table presents the carrying value, fair value and fair value hierarchy of these financial assets and financial liabilities. Fair Value Measurements at Carrying Fair Reporting Date Using Amount Value Level 1 Level 2 Level 3 September 30, 2016 Financial Assets Investments Other investments $ 150,661 $ 155,183 $ - $ - $ 155,183 Financial Liabilities Investment contract and life policy reserves, fixed annuity contracts 4,308,100 4,179,033 - - 4,179,033 Investment contract and life policy reserves, account values on life contracts 78,741 82,642 - - 82,642 Other policyholder funds 651,205 651,205 - 575,247 75,958 Long-term debt 247,146 267,634 267,634 - - December 31, 2015 Financial Assets Investments Other investments $ 148,759 $ 153,228 $ - $ - $ 153,228 Financial Liabilities Investment contract and life policy reserves, fixed annuity contracts 4,072,102 4,049,840 - - 4,049,840 Investment contract and life policy reserves, account values on life contracts 77,429 81,360 - - 81,360 Other policyholder funds 653,631 653,631 - 575,104 78,527 Long-term debt 246,975 252,700 252,700 - -

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	September 30, December 31, 2016 2015 Assets Derivative instruments, included in Short-term and Other Investments $ 4,534 $ 2,501 Liabilities Fixed indexed annuities - embedded derivatives, included in Other Policyholder Funds 55,179 39,021 Indexed universal life - embedded derivatives, included in Investment Contract and Life Policy Reserves 80 14
Derivative Instruments, Gain (Loss)	The changes in fair value of derivatives included in the Consolidated Statements of Operations were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Change in fair value of derivatives (1): Revenues Net realized investment gains (losses) $ 562 $ (1,564 ) $ 422 $ (2,171 ) Change in fair value of embedded derivatives: Revenues Net realized investment gains (losses) (76 ) 1,328 (2,077 ) 1,795 (1) Includes the gains or losses recognized at the expiration of the option term or early termination and the changes in fair value for open options.
Financing Receivable Credit Quality Indicators	The notional amount and fair value of call options by counterparty and each counterparty’s long-term credit ratings were as follows: September 30, 2016 December 31, 2015 Credit Rating (1) Notional Fair Notional Fair Counterparty S&P Moody’s Amount Value Amount Value Bank of America, N.A. A A1 $ 38,500 $ 1,598 $ 17,000 $ 5 Barclays Bank PLC A- A2 41,400 720 7,600 137 Citigroup Inc. BBB+ Baa1 5,800 2 17,300 845 Credit Suisse International A A2 64,300 1,442 12,000 167 Societe Generale A A2 23,200 772 80,800 1,347 Total $ 173,200 $ 4,534 $ 134,700 $ 2,501 (1) As assigned by Standard & Poor’s Corporation (“S&P”) and Moody’s Investors Service, Inc. (“Moody’s”).

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Summary of Indebtedness outstanding	Indebtedness outstanding was as follows: September 30, December 31, 2016 2015 Short-term debt: Bank Credit Facility, expires July 30, 2019 $ - $ - Long-term debt: 4.50% Senior Notes, due December 1, 2025. Aggregate principal amount of $250,000 less unaccrued discount of $617 and $654 (4.5% imputed rate) and unamortized debt issuance costs of $2,237 and $2,371 247,146 246,975

Reinsurance (Tables)

Reinsurance (Tables)	9 Months Ended
	Sep. 30, 2016
Insurance [Abstract]
Effects of reinsurance on premiums and benefits	Ceded to Assumed Gross Other from Other Net Amount Companies Companies Amount Three months ended September 30, 2016 Premiums written and contract deposits $ 356,155 $ 5,555 $ 934 $ 351,534 Premiums and contract charges earned 195,654 5,584 980 191,050 Benefits, claims and settlement expenses 139,114 4,642 1,238 135,710 Three months ended September 30, 2015 Premiums written and contract deposits $ 331,223 $ 5,952 $ 927 $ 326,198 Premiums and contract charges earned 187,813 5,961 960 182,812 Benefits, claims and settlement expenses 123,061 3,034 1,154 121,181 Nine months ended September 30, 2016 Premiums written and contract deposits $ 960,945 $ 17,244 $ 2,881 $ 946,582 Premiums and contract charges earned 579,283 17,305 2,882 564,860 Benefits, claims and settlement expenses 422,352 21,748 3,027 403,631 Nine months ended September 30, 2015 Premiums written and contract deposits $ 966,867 $ 18,260 $ 2,720 $ 951,327 Premiums and contract charges earned 560,818 18,608 2,717 544,927 Benefits, claims and settlement expenses 378,939 13,397 2,597 368,139

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Summarized financial information for these segments	Summarized financial information for these segments is as follows: Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Insurance premiums and contract charges earned Property and casualty $ 155,727 $ 149,210 $ 461,520 $ 443,616 Annuity 6,448 6,541 18,614 19,280 Life 28,875 27,061 84,726 82,031 Total $ 191,050 $ 182,812 $ 564,860 $ 544,927 Net investment income Property and casualty $ 10,018 $ 7,350 $ 28,997 $ 25,790 Annuity 66,174 56,271 186,950 169,846 Life 18,852 17,612 55,338 53,342 Corporate and other 15 5 44 17 Intersegment eliminations (212 ) (222 ) (644 ) (671 ) Total $ 94,847 $ 81,016 $ 270,685 $ 248,324 Net income (loss) Property and casualty $ 6,715 $ 11,253 $ 16,047 $ 32,120 Annuity 15,732 8,716 39,348 32,973 Life 4,583 3,619 13,072 10,647 Corporate and other (107 ) (1,604 ) (4,525 ) (3,298 ) Total $ 26,923 $ 21,984 $ 63,942 $ 72,442 Septembe r 30, December 31, 2016 2015 Assets Property and casualty $ 1,147,850 $ 1,098,415 Annuity 7,437,926 7,001,411 Life 1,997,990 1,862,719 Corporate and other 141,162 131,635 Intersegment eliminations (33,851 ) (37,208 ) Total $ 10,691,077 $ 10,056,972

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Investment contract reserves	$ 4,308,100	$ 4,072,102
Life policy reserves	1,077,807	1,054,740
Total	$ 5,385,907	$ 5,126,842

Basis of Presentation (Details

Basis of Presentation (Details 1) - USD ($) $ in Thousands		3 Months Ended				9 Months Ended
		Sep. 30, 2016		Sep. 30, 2015		Sep. 30, 2016		Sep. 30, 2015
Unrealized Gains and Losses on Fixed Maturities and Equity Securities
Beginning balance	[1]	$ 329,653	[2]	$ 223,786	[3]	$ 175,167	[2]	$ 297,554	[3]
Other comprehensive income (loss) before reclassifications	[1]	9,912	[2]	3,836	[3]	167,692	[2]	(64,979)	[3]
Amounts reclassified from accumulated other comprehensive income (loss)	[1]	(2,274)	[2]	(1,004)	[3]	(5,568)	[2]	(5,957)	[3]
Net current period other comprehensive income (loss)	[1]	7,638	[2]	2,832	[3]	162,124	[2]	(70,936)	[3]
Ending balance	[1]	337,291	[2]	226,618	[3]	337,291	[2]	226,618	[3]
Defined Benefit Plans
Beginning balance	[1]	(11,794)		(12,953)		(11,794)		(12,953)
Other comprehensive income (loss) before reclassifications	[1]	0		0		0		0
Amounts reclassified from accumulated other comprehensive income (loss)	[1]	0		0		0		0
Net current period other comprehensive income (loss)	[1]	0		0		0		0
Ending balance	[1]	(11,794)		(12,953)		(11,794)		(12,953)
Beginning balance	[1]	317,859		210,833		163,373		284,601
Other comprehensive income (loss) before reclassifications	[1]	9,912		3,836		167,692		(64,979)
Amounts reclassified from accumulated other comprehensive income (loss)	[1]	(2,274)		(1,004)		(5,568)		(5,957)
Other comprehensive income (loss)	[1]	7,638		2,832		162,124		(70,936)
Ending balance	[1]	$ 325,497		$ 213,665		$ 325,497		$ 213,665
[1]	All amounts are net of tax.
[2]	The pretax amounts reclassified from accumulated other comprehensive income (loss), $3,499 and $8,566, are included in net realized investment gains and losses and the related tax expenses, $1,225 and $2,998, are included in income tax expense in the Consolidated Statements of Operations for the three and nine months ended September 30, 2016, respectively.
[3]	The pretax amounts reclassified from accumulated other comprehensive income (loss), $1,545 and $9,165, are included in net realized investment gains and losses and the related tax expenses, $541 and $3,208, are included in income tax expense in the Consolidated Statements of Operations for the three and nine months ended September 30, 2015, respectively.

Basis of Presentation (Detail27

Basis of Presentation (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax	$ 3,499	$ 1,545	$ 8,566	$ 9,165
Other Tax Expense (Benefit)	1,225	$ 541	2,998	$ 3,208
Other Assets	321,475		321,475		$ 292,139
Assets, Total	10,691,077		10,691,077		10,056,972
Long-term debt	247,146		247,146		246,975
Liabilities, Total	9,246,993		9,246,993		8,792,311
Liabilities and Equity, Total	$ 10,691,077		$ 10,691,077		10,056,972
Effect of Change [Member]
Other Assets					(2,371)
Assets, Total					(2,371)
Long-term debt					(2,371)
Liabilities, Total					(2,371)
Liabilities and Equity, Total					$ (2,371)

Investments (Details)

Investments (Details) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
		Sep. 30, 2016	Dec. 31, 2015
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost/Cost		$ 6,907,575	$ 6,785,626
Unrealized Gains		608,188	395,237
Unrealized Losses		21,710	89,523
Fair Value		7,494,053	7,091,340
OTTI in AOCI	[1]	(539)	(2,758)
Amortized Cost/Cost, Equity securities		124,806	95,722
Fair Value, Equity securities		137,640	99,797
Mortgage-backed securities [Member]
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost/Cost	[2]	419,651	461,862
Unrealized Gains	[2]	52,772	44,413
Unrealized Losses	[2]	267	1,861
Fair Value	[2]	472,156	504,414
OTTI in AOCI	[1],[2]	0	0
Other, including U.S. Treasury Securities [Member]
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost/Cost	[2]	449,016	532,373
Unrealized Gains	[2]	39,383	21,153
Unrealized Losses	[2]	272	7,415
Fair Value	[2]	488,127	546,111
OTTI in AOCI	[1],[2]	0	0
Municipal bonds [Member]
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost/Cost		1,555,326	1,553,603
Unrealized Gains		228,185	165,680
Unrealized Losses		4,770	10,340
Fair Value		1,778,741	1,708,943
OTTI in AOCI	[1]	(1,899)	(4,140)
Foreign government bonds [Member]
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost/Cost		71,402	67,441
Unrealized Gains		8,437	6,288
Unrealized Losses		0	112
Fair Value		79,839	73,617
OTTI in AOCI	[1]	0	0
Corporate bonds [Member]
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost/Cost		2,720,987	2,687,376
Unrealized Gains		239,109	140,873
Unrealized Losses		6,758	48,834
Fair Value		2,953,338	2,779,415
OTTI in AOCI	[1]	(340)	0
Other mortgage-backed securities [Member]
Unrealized gains and losses on fixed maturities and equity securities
Amortized Cost/Cost		1,691,193	1,482,971
Unrealized Gains		40,302	16,830
Unrealized Losses		9,643	20,961
Fair Value		1,721,852	1,478,840
OTTI in AOCI	[1]	1,700	1,382
Equity securities [Member]
Unrealized gains and losses on fixed maturities and equity securities
OTTI in AOCI	[1],[3]	0	0
Amortized Cost/Cost, Equity securities	[3]	124,806	95,722
Unrealized Gains, Equity securities	[3]	14,355	8,405
Unrealized Losses, Equity securities	[3]	1,521	4,330
Fair Value, Equity securities	[3]	$ 137,640	$ 99,797
[1]	Related to securities for which an unrealized loss was bifurcated to distinguish the credit-related portion and the portion driven by other market factors. Represents the amount of other-than-temporary impairment losses in AOCI which was not included in earnings; amounts also include unrealized gains/(losses) on such impaired securities relating to changes in the fair value of those securities subsequent to the impairment measurement date.
[2]	Fair value includes securities issued by Federal National Mortgage Association (“FNMA”) of $203,381 and $231,294; Federal Home Loan Mortgage Corporation (“FHLMC”) of $302,472 and $363,957; and Government National Mortgage Association (“GNMA”) of $122,311 and $130,940 as of September 30, 2016 and December 31, 2015, respectively.
[3]	Includes nonredeemable (perpetual) preferred stocks, common stocks and closed-end funds.

Investments (Details 1)

Investments (Details 1) $ in Thousands		Sep. 30, 2016USD ($)Number	Dec. 31, 2015USD ($)Number
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less		$ 487,399	$ 2,304,060
Fixed maturity securities, Fair Value, More than 12 Months		300,179	224,513
Fixed maturity securities, Fair Value, Total		787,578	2,528,573
Fixed maturity securities, Gross Unrealized Losses
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less		9,057	74,011
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months		14,174	19,842
Fixed maturity securities, Gross Unrealized Losses, Total		$ 23,231	$ 93,853
Number of positions with a gross unrealized loss position, 12 Months or Less | Number		201	684
Number of position with a gross unrealized loss position, more than 12 months | Number		107	78
Number of position with a gross unrealized loss position, Total | Number		308	762
Fair value as a percentage of total fixed maturities and equity securities fair value, 12 Months or Less		6.40%	32.00%
Fair value as a percentage of total fixed maturities and equity securities fair value, more than 12 months		3.90%	3.10%
Fair value as a percentage of total fixed maturities and equity securities fair value, Total		10.30%	35.10%
Mortgage-backed securities [Member]
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less		$ 9,701	$ 48,097
Fixed maturity securities, Fair Value, More than 12 Months		3,564	1,595
Fixed maturity securities, Fair Value, Total		13,265	49,692
Fixed maturity securities, Gross Unrealized Losses
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less		60	1,748
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months		207	113
Fixed maturity securities, Gross Unrealized Losses, Total		267	1,861
Other [Member]
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less		27,728	248,478
Fixed maturity securities, Fair Value, More than 12 Months		0	1,921
Fixed maturity securities, Fair Value, Total		27,728	250,399
Fixed maturity securities, Gross Unrealized Losses
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less		272	7,338
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months		0	77
Fixed maturity securities, Gross Unrealized Losses, Total		272	7,415
Municipal bonds [Member]
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less		53,583	168,939
Fixed maturity securities, Fair Value, More than 12 Months		16,768	21,717
Fixed maturity securities, Fair Value, Total		70,351	190,656
Fixed maturity securities, Gross Unrealized Losses
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less		879	5,382
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months		3,891	4,958
Fixed maturity securities, Gross Unrealized Losses, Total		4,770	10,340
Foreign government bonds [Member]
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less		0	11,867
Fixed maturity securities, Fair Value, More than 12 Months		0	0
Fixed maturity securities, Fair Value, Total		0	11,867
Fixed maturity securities, Gross Unrealized Losses
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less		0	112
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months		0	0
Fixed maturity securities, Gross Unrealized Losses, Total		0	112
Corporate bonds [Member]
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less		114,009	858,647
Fixed maturity securities, Fair Value, More than 12 Months		63,800	50,340
Fixed maturity securities, Fair Value, Total		177,809	908,987
Fixed maturity securities, Gross Unrealized Losses
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less		1,514	37,244
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months		5,244	11,590
Fixed maturity securities, Gross Unrealized Losses, Total		6,758	48,834
Other mortgage-backed securities [Member]
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less		266,884	929,268
Fixed maturity securities, Fair Value, More than 12 Months		207,444	140,561
Fixed maturity securities, Fair Value, Total		474,328	1,069,829
Fixed maturity securities, Gross Unrealized Losses
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less		5,447	19,165
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months		4,196	1,796
Fixed maturity securities, Gross Unrealized Losses, Total		9,643	20,961
Total fixed maturity securities [Member]
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less		471,905	2,265,296
Fixed maturity securities, Fair Value, More than 12 Months		291,576	216,134
Fixed maturity securities, Fair Value, Total		763,481	2,481,430
Fixed maturity securities, Gross Unrealized Losses
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less		8,172	70,989
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months		13,538	18,534
Fixed maturity securities, Gross Unrealized Losses, Total		21,710	89,523
Equity securities [Member]
Fixed maturity securities, Fair Value
Fixed maturity securities, Fair Value, 12 Months or Less	[1]	15,494	38,764
Fixed maturity securities, Fair Value, More than 12 Months	[1]	8,603	8,379
Fixed maturity securities, Fair Value, Total	[1]	24,097	47,143
Fixed maturity securities, Gross Unrealized Losses
Fixed maturity securities, Gross Unrealized Losses, 12 Months or Less	[1]	885	3,022
Fixed maturity securities, Gross Unrealized Losses, More than 12 Months	[1]	636	1,308
Fixed maturity securities, Gross Unrealized Losses, Total	[1]	$ 1,521	$ 4,330
[1]	Includes nonredeemable (perpetual) preferred stocks, common stocks and closed-end funds.

Investments (Details 2)

Investments (Details 2) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015
Cumulative credit loss
Beginning of period	[1]	$ 7,844	$ 2,877
New credit losses	[1]	300	5,162
Increases to previously recognized credit losses	[1]	2,480	0
Losses related to securities sold or paid down during the period	[1]	0	0
End of period	[1]	$ 10,624	$ 8,039
[1]	The cumulative credit loss amounts exclude other-than-temporary impairment losses on securities held as of the periods indicated that the Company intended to sell or it was more likely than not that the Company would be required to sell the security before the recovery of the amortized cost basis.

Investments (Details 3)

Investments (Details 3) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Estimated expected maturity:
Due in 1 year or less, Percent of Total Fair Value	3.80%	3.10%
Due in 1 year or less, Amortized Cost	$ 264,641
Due in 1 year or less, Fair Value	$ 287,079
Due after 1 year through 5 years, Percent of Total Fair Value	27.60%	24.20%
Due after 1 year through 5 years, Amortized Cost	$ 1,903,694
Due after 1 year through 5 years, Fair Value	$ 2,065,099
Due after 5 years through 10 years, Percent of Total Fair Value	37.10%	39.60%
Due after 5 years through 10 years, Amortized Cost	$ 2,563,365
Due after 5 years through 10 years, Fair Value	$ 2,780,699
Due after 10 years through 20 years, Percent of Total Fair Value	19.70%	20.90%
Due after 10 years through 20 years, Fair Value	$ 1,473,916
Due after 10 years through 20 years, Amortized Cost	$ 1,358,717
Due after 20 years, Percent of Total Fair Value	11.80%	12.20%
Due after 20 years, Amortized Cost	$ 817,158
Due after 20 years, Fair Value	$ 887,260
Total, Percent of Total Fair Value	100.00%	100.00%
Total, Amortized Cost	$ 6,907,575	$ 6,785,626
Fair Value	$ 7,494,053	$ 7,091,340
Average option-adjusted duration, in years	5 years 9 months 18 days	5 years 9 months 18 days

Investments (Details 4)

Investments (Details 4) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Proceeds received from sales of fixed maturities and equity securities
Proceeds received, Fixed maturity securities	$ 94,706	$ 81,120	$ 351,739	$ 327,641
Proceeds received, Equity securities	4,479	5,633	17,101	26,442
Fixed maturity securities [Member]
Proceeds received from sales of fixed maturities and equity securities
Gross gains realized	2,966	6,400	13,824	18,631
Gross losses realized	(102)	(3,267)	(1,542)	(5,012)
Equity securities [Member]
Proceeds received from sales of fixed maturities and equity securities
Gross gains realized	790	680	1,960	5,878
Gross losses realized	$ (21)	$ (397)	$ (862)	$ (514)

Investments (Details 5)

Investments (Details 5) - USD ($) $ in Thousands		3 Months Ended				9 Months Ended
		Sep. 30, 2016		Sep. 30, 2015		Sep. 30, 2016		Sep. 30, 2015
Net unrealized investment gains (losses) on fixed maturity securities, net of tax
Reclassification of net realized investment (gains) losses to net income	[1]	$ (2,274)	[2]	$ (1,004)	[3]	$ (5,568)	[2]	$ (5,957)	[3]
Fixed Maturity Securities [Member]
Net unrealized investment gains (losses) on fixed maturity securities, net of tax
Beginning of period		371,456		254,827		198,714		336,604
Change in unrealized investment gains and losses		20,827		7,436		188,912		(69,787)
Reclassification of net realized investment (gains) losses to net income		(11,072)		(835)		(6,415)		(5,389)
End of period		381,211		261,428		381,211		261,428
Equity securities [Member]
Net unrealized investment gains (losses) on fixed maturity securities, net of tax
Beginning of period		8,183		3,399		2,649		6,988
Change in unrealized investment gains and losses		(2,052)		(2,584)		4,846		(5,774)
Reclassification of net realized investment (gains) losses to net income		2,211		(169)		847		(568)
End of period		$ 8,342		$ 646		$ 8,342		$ 646
[1]	All amounts are net of tax.
[2]	The pretax amounts reclassified from accumulated other comprehensive income (loss), $3,499 and $8,566, are included in net realized investment gains and losses and the related tax expenses, $1,225 and $2,998, are included in income tax expense in the Consolidated Statements of Operations for the three and nine months ended September 30, 2016, respectively.
[3]	The pretax amounts reclassified from accumulated other comprehensive income (loss), $1,545 and $9,165, are included in net realized investment gains and losses and the related tax expenses, $541 and $3,208, are included in income tax expense in the Consolidated Statements of Operations for the three and nine months ended September 30, 2015, respectively.

Investments (Details 6)

Investments (Details 6) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Asset derivatives:
Derivatives Asset, Net Amount	$ 4,534	$ 2,501
Free-standing derivatives [Member]
Asset derivatives:
Derivatives Asset, Gross Amounts	4,534	2,501
Derivatives Asset, Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Derivatives Asset, Net Amounts of Assets/Liabilities Presented in the Consolidated Balance Sheets	4,534	2,501
Derivatives Asset, Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments	0	0
Derivatives Asset, Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received	4,770	2,617
Derivatives Asset, Net Amount	$ (236)	$ (116)

Investments (Details Textual)

Investments (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Investments (Textual) [Abstract]
Fair value of issued securities	$ 7,494,053	$ 7,091,340
Investments (Additional Textual) [Abstract]
Federal Home Loan Bank Funding Agreements	$ 575,000	575,000
Investment Grade Rate	64.00%
Federal Home Loans Bank Of Chicago [Member]
Investments (Textual) [Abstract]
Fair value of issued securities	$ 620,124	621,077
Governmental Agencies as Required by Law in Various States [Member]
Investments (Textual) [Abstract]
Fair value of issued securities	18,309	18,312
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member]
Investments (Textual) [Abstract]
Fair value of issued securities	203,381	231,294
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member]
Investments (Textual) [Abstract]
Fair value of issued securities	302,472	363,957
Government National Mortgage Association Certificates and Obligations (GNMA) [Member]
Investments (Textual) [Abstract]
Fair value of issued securities	$ 122,311	$ 130,940

Fair Value of Financial Instr36

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
U.S. Government and federally sponsored agency obligations:
Carrying Amount	$ 7,861,933	$ 7,379,290
Fair Value	7,861,933	7,379,290
Investment contract and life policy reserves, embedded derivatives, Carrying Amount	80	14
Investment contract and life policy reserves, embedded derivatives, Fair Value Disclosure	80	14
Other policyholder funds, embedded derivatives, Carrying Amount	55,179	39,021
Other policyholder funds, embedded derivatives, Fair Value Disclosure	55,179	39,021
Recurring [Member]
U.S. Government and federally sponsored agency obligations:
Carrying Amount	7,494,053	7,091,340
Fair Value	7,494,053	7,091,340
Short-term investments [Member]
U.S. Government and federally sponsored agency obligations:
Carrying Amount	214,206	174,152
Fair Value	214,206	174,152
Mortgage-backed securities [Member]
U.S. Government and federally sponsored agency obligations:
Carrying Amount	472,156	504,414
Fair Value	472,156	504,414
Other, including U.S. Treasury Securities [Member]
U.S. Government and federally sponsored agency obligations:
Carrying Amount	488,127	546,111
Fair Value	488,127	546,111
Municipal bonds [Member]
U.S. Government and federally sponsored agency obligations:
Carrying Amount	1,778,741	1,708,943
Fair Value	1,778,741	1,708,943
Foreign government bonds [Member]
U.S. Government and federally sponsored agency obligations:
Carrying Amount	79,839	73,617
Fair Value	79,839	73,617
Corporate bonds [Member]
U.S. Government and federally sponsored agency obligations:
Carrying Amount	2,953,338	2,779,415
Fair Value	2,953,338	2,779,415
Other mortgage-backed securities [Member]
U.S. Government and federally sponsored agency obligations:
Carrying Amount	1,721,852	1,478,840
Fair Value	1,721,852	1,478,840
Equity securities [Member]
U.S. Government and federally sponsored agency obligations:
Carrying Amount	137,640	99,797
Fair Value	137,640	99,797
Other investments [Member]
U.S. Government and federally sponsored agency obligations:
Carrying Amount	16,034	14,001
Fair Value	16,034	14,001
Level 1 [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	345,083	280,305
Investment contract and life policy reserves, embedded derivatives, Fair Value Disclosure	0	0
Other policyholder funds, embedded derivatives, Fair Value Disclosure	0	0
Level 1 [Member] | Recurring [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	21,235	24,453
Level 1 [Member] | Short-term investments [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	213,450	169,764
Level 1 [Member] | Mortgage-backed securities [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	0	0
Level 1 [Member] | Other, including U.S. Treasury Securities [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	13,894	14,258
Level 1 [Member] | Municipal bonds [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	0	0
Level 1 [Member] | Foreign government bonds [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	0	0
Level 1 [Member] | Corporate bonds [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	7,341	10,195
Level 1 [Member] | Other mortgage-backed securities [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	0	0
Level 1 [Member] | Equity securities [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	110,398	86,088
Level 1 [Member] | Other investments [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	0	0
Level 2 [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	7,291,908	6,925,559
Investment contract and life policy reserves, embedded derivatives, Fair Value Disclosure	80	14
Other policyholder funds, embedded derivatives, Fair Value Disclosure	0	0
Level 2 [Member] | Recurring [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	7,247,882	6,893,467
Level 2 [Member] | Short-term investments [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	756	4,388
Level 2 [Member] | Mortgage-backed securities [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	468,694	504,414
Level 2 [Member] | Other, including U.S. Treasury Securities [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	474,233	531,853
Level 2 [Member] | Municipal bonds [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	1,733,575	1,678,564
Level 2 [Member] | Foreign government bonds [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	79,839	73,617
Level 2 [Member] | Corporate bonds [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	2,868,376	2,701,645
Level 2 [Member] | Other mortgage-backed securities [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	1,623,165	1,403,374
Level 2 [Member] | Equity securities [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	27,236	13,703
Level 2 [Member] | Other investments [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	16,034	14,001
Level 3 [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	224,942	173,426
Investment contract and life policy reserves, embedded derivatives, Fair Value Disclosure	0	0
Other policyholder funds, embedded derivatives, Fair Value Disclosure	55,179	39,021
Level 3 [Member] | Recurring [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	224,936	173,420
Level 3 [Member] | Short-term investments [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	0	0
Level 3 [Member] | Mortgage-backed securities [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	3,462	0
Level 3 [Member] | Other, including U.S. Treasury Securities [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	0	0
Level 3 [Member] | Municipal bonds [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	45,166	30,379
Level 3 [Member] | Foreign government bonds [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	0	0
Level 3 [Member] | Corporate bonds [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	77,621	67,575
Level 3 [Member] | Other mortgage-backed securities [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	98,687	75,466
Level 3 [Member] | Equity securities [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	6	6
Level 3 [Member] | Other investments [Member]
U.S. Government and federally sponsored agency obligations:
Fair Value	$ 0	$ 0

Fair Value of Financial Instr37

Fair Value of Financial Instruments (Details 1) - USD ($) $ in Thousands		3 Months Ended				9 Months Ended
		Sep. 30, 2016		Sep. 30, 2015		Sep. 30, 2016		Sep. 30, 2015
Financial Assets
Beginning balance		$ 217,642		$ 187,099		$ 173,426		$ 171,300
Transfers into Level 3		18,030	[1]	505	[2]	68,483	[1]	37,740	[2]
Transfers out of Level 3		(6,755)	[1]	0	[2]	(6,755)	[1]	(11,014)	[2]
Total gains or losses
Net realized gains (losses) included in net income related to financial assets		(55)		(163)		(712)		1,088
Net unrealized gains (losses) included in other comprehensive income		2,882		1,957		7,666		333
Purchases		0		0		0		0
Issuances		0		0		0		0
Sales		0		(1)		0		(477)
Settlements		0		0		0		0
Paydowns, maturities and distributions		(6,802)		(4,046)		(17,166)		(13,619)
Ending balance		224,942		185,351		224,942		185,351
Financial Liabilities
Beginning balance	[3]	47,706		26,719		39,021		20,049
Transfers into Level 3	[3]	0	[1]	0	[2]	0	[1]	0	[2]
Transfers out of Level 3	[3]	0	[1]	0	[2]	0	[1]	0	[2]
Total gains or losses
Net realized (gains) losses included in net income related to financial liabilities	[3]	68		(1,328)		2,066		(1,795)
Purchases	[3]	0		0		0		0
Issuances	[3]	6,710		6,899		15,194		14,811
Sales	[3]	0		0		0		0
Settlements	[3]	0		0		0		0
Paydowns, maturities and distributions	[3]	695		(535)		(1,102)		(1,310)
Ending balance	[3]	55,179		31,755		55,179		31,755
Municipal bonds [Member]
Financial Assets
Beginning balance		47,647		29,669		30,379		13,628
Transfers into Level 3		0	[1]	0	[2]	14,751	[1]	16,326	[2]
Transfers out of Level 3		0	[1]	0	[2]	0	[1]	0	[2]
Total gains or losses
Net realized gains (losses) included in net income related to financial assets		0		0		0		0
Net unrealized gains (losses) included in other comprehensive income		(2,361)		1,464		420		1,359
Purchases		0		0		0		0
Issuances		0		0		0		0
Sales		0		0		0		0
Settlements		0		0		0		0
Paydowns, maturities and distributions		(120)		(122)		(384)		(302)
Ending balance		45,166		31,011		45,166		31,011
Corporate bonds [Member]
Financial Assets
Beginning balance		73,408		72,724		67,575		74,717
Transfers into Level 3		10,375	[1]	0	[2]	21,451	[1]	5,729	[2]
Transfers out of Level 3		(5,967)	[1]	0	[2]	(5,967)	[1]	(1,350)	[2]
Total gains or losses
Net realized gains (losses) included in net income related to financial assets		1		(164)		(656)		1,087
Net unrealized gains (losses) included in other comprehensive income		1,292		326		3,073		(758)
Purchases		0		0		0		0
Issuances		0		0		0		0
Sales		0		0		0		(476)
Settlements		0		0		0		0
Paydowns, maturities and distributions		(1,488)		(2,638)		(7,855)		(8,701)
Ending balance		77,621		70,248		77,621		70,248
Mortgage-backed securities [Member]
Financial Assets
Beginning balance		96,581	[4]	84,700		75,466	[4]	82,949
Transfers into Level 3		7,655	[1],[4]	505	[2]	32,281	[1],[4]	15,685	[2]
Transfers out of Level 3		(788)	[1],[4]	0	[2]	(788)	[1],[4]	(9,664)	[2]
Total gains or losses
Net realized gains (losses) included in net income related to financial assets		(56)	[4]	0		(56)	[4]	0
Net unrealized gains (losses) included in other comprehensive income		3,951	[4]	167		4,173	[4]	(268)
Purchases		0	[4]	0		0	[4]	0
Issuances		0	[4]	0		0	[4]	0
Sales		0	[4]	0		0	[4]	0
Settlements		0	[4]	0		0	[4]	0
Paydowns, maturities and distributions		(5,194)	[4]	(1,286)		(8,927)	[4]	(4,616)
Ending balance		102,149	[4]	84,086		102,149	[4]	84,086
Total Fixed Maturities [Member]
Financial Assets
Beginning balance		217,636		187,093		173,420		171,294
Transfers into Level 3		18,030	[1]	505	[2]	68,483	[1]	37,740	[2]
Transfers out of Level 3		(6,755)	[1]	0	[2]	(6,755)	[1]	(11,014)	[2]
Total gains or losses
Net realized gains (losses) included in net income related to financial assets		(55)		(164)		(712)		1,087
Net unrealized gains (losses) included in other comprehensive income		2,882		1,957		7,666		333
Purchases		0		0		0		0
Issuances		0		0		0		0
Sales		0		0		0		(476)
Settlements		0		0		0		0
Paydowns, maturities and distributions		(6,802)		(4,046)		(17,166)		(13,619)
Ending balance		224,936		185,345		224,936		185,345
Equity securities [Member]
Financial Assets
Beginning balance		6		6		6		6
Transfers into Level 3		0	[1]	0	[2]	0	[1]	0	[2]
Transfers out of Level 3		0	[1]	0	[2]	0	[1]	0	[2]
Total gains or losses
Net realized gains (losses) included in net income related to financial assets		0		1		0		1
Net unrealized gains (losses) included in other comprehensive income		0		0		0		0
Purchases		0		0		0		0
Issuances		0		0		0		0
Sales		0		(1)		0		(1)
Settlements		0		0		0		0
Paydowns, maturities and distributions		0		0		0		0
Ending balance		$ 6		$ 6		$ 6		$ 6
[1]	Transfers into and out of Level 3 during the three and nine months ended September 30, 2016 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 having occurred at the end of the reporting period in which the transfers were determined.
[2]	Transfers into and out of Level 3 during the three and nine months ended September 30, 2015 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 having occurred at the end of the reporting period in which the transfers were determined.
[3]	Represents embedded derivatives, all related to the Company's fixed indexed annuity ("FIA") products, reported in Other Policyholder Funds in the Company's Consolidated Balance Sheets.
[4]	Includes U.S. Government and federally sponsored agency obligations for mortgage-backed securities and other mortgage-backed securities.

Fair Value of Financial Instr38

Fair Value of Financial Instruments (Details 2) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Investments
Other investments, Carrying Amount	$ 150,661	$ 148,759
Other investments, Fair Value	155,183	153,228
Financial Liabilities
Investment contract and life policy reserves, fixed annuity contracts, Carrying Amount	4,308,100	4,072,102
Investment contract and life policy reserves, fixed annuity contracts, Fair value	4,179,033	4,049,840
Investment contract and life policy reserves, account values on life contracts, Carrying Amount	78,741	77,429
Investment contract and life policy reserves, account values on life contracts, Fair value	82,642	81,360
Other policyholder funds, Carrying Amount	651,205	653,631
Other policyholder funds, Fair Value	651,205	653,631
Long-term debt, Carrying Amount	247,146	246,975
Long-term debt, Fair Value	267,634	252,700
Level 1 [Member]
Investments
Other investments, Fair Value	0	0
Financial Liabilities
Investment contract and life policy reserves, fixed annuity contracts, Fair value	0	0
Investment contract and life policy reserves, account values on life contracts, Fair value	0	0
Other policyholder funds, Fair Value	0	0
Long-term debt, Fair Value	267,634	252,700
Level 2 [Member]
Investments
Other investments, Fair Value	0	0
Financial Liabilities
Investment contract and life policy reserves, fixed annuity contracts, Fair value	0	0
Investment contract and life policy reserves, account values on life contracts, Fair value	0	0
Other policyholder funds, Fair Value	575,247	575,104
Long-term debt, Fair Value	0	0
Level 3 [Member]
Investments
Other investments, Fair Value	155,183	153,228
Financial Liabilities
Investment contract and life policy reserves, fixed annuity contracts, Fair value	4,179,033	4,049,840
Investment contract and life policy reserves, account values on life contracts, Fair value	82,642	81,360
Other policyholder funds, Fair Value	75,958	78,527
Long-term debt, Fair Value	$ 0	$ 0

Fair Value of Financial Instr39

Fair Value of Financial Instruments (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Fair Value of Financial Instruments (Textual) [Abstract]
Embedded Derivative, Gain (Loss) on Embedded Derivative Total	$ (76)	$ 1,328	$ (2,077)	$ 1,795
Level 3 [Member]
Fair Value of Financial Instruments (Textual) [Abstract]
Embedded Derivative, Gain (Loss) on Embedded Derivative Total	$ (68)	$ 1,328	$ (2,066)	$ 1,795
Percentage Of Invested Assets In Total Investment Portfolio Level3 Recurring	2.80%		2.80%

Derivative Instruments (Details

Derivative Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Assets
Derivative instruments, included in Short-term and Other Investments	$ 4,534	$ 2,501
Liabilities
Fixed indexed annuities - embedded derivatives, included in Other Policyholder Funds	55,179	39,021
Indexed universal life - embedded derivatives, included in Investment Contract and Life Policy Reserves	$ 80	$ 14

Derivative Instruments (Detai41

Derivative Instruments (Details 1) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Change in fair value of derivatives:
Net realized investment gains (losses)	[1]	$ 562	$ (1,564)	$ 422	$ (2,171)
Change in fair value of embedded derivatives:
Net realized investment gains (losses)		$ (76)	$ 1,328	$ (2,077)	$ 1,795
[1]	Includes the gains or losses recognized at the expiration of the option term or early termination and the changes in fair value for open options.

Derivative Instruments (Detai42

Derivative Instruments (Details 2) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2016	Dec. 31, 2015
Derivative [Line Items]
Notional Amount		$ 173,200	$ 134,700
Fair Value		4,534	2,501
Bank of America, N.A. [Member]
Derivative [Line Items]
Notional Amount		38,500	17,000
Fair Value		1,598	5
Credit Suisse International [Member]
Derivative [Line Items]
Notional Amount		64,300	12,000
Fair Value		1,442	167
Societe Generale [Member]
Derivative [Line Items]
Notional Amount		23,200	80,800
Fair Value		772	1,347
Barclays Bank PLC [Member]
Derivative [Line Items]
Notional Amount		41,400	7,600
Fair Value		720	137
Citigroup Inc [Member]
Derivative [Line Items]
Notional Amount		5,800	17,300
Fair Value		$ 2	$ 845
Moody's [Member] | Bank of America, N.A. [Member]
Derivative [Line Items]
Credit Rating	[1]	A1
Moody's [Member] | Credit Suisse International [Member]
Derivative [Line Items]
Credit Rating	[1]	A2
Moody's [Member] | Societe Generale [Member]
Derivative [Line Items]
Credit Rating	[1]	A2
Moody's [Member] | Barclays Bank PLC [Member]
Derivative [Line Items]
Credit Rating	[1]	A2
Moody's [Member] | Citigroup Inc [Member]
Derivative [Line Items]
Credit Rating	[1]	Baa1
Standard & Poor's [Member] | Bank of America, N.A. [Member]
Derivative [Line Items]
Credit Rating	[1]	A
Standard & Poor's [Member] | Credit Suisse International [Member]
Derivative [Line Items]
Credit Rating	[1]	A
Standard & Poor's [Member] | Societe Generale [Member]
Derivative [Line Items]
Credit Rating	[1]	A
Standard & Poor's [Member] | Barclays Bank PLC [Member]
Derivative [Line Items]
Credit Rating	[1]	A-
Standard & Poor's [Member] | Citigroup Inc [Member]
Derivative [Line Items]
Credit Rating	[1]	BBB+
[1]	As assigned by Standard & Poor's Corporation ("S&P") and Moody's Investors Service, Inc. ("Moody's").

Derivative Instruments (Detai43

Derivative Instruments (Details Textual) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Concentration Risk, Credit Risk, Financial Instrument, Maximum Exposure	$ 250	$ 250
Fixed Indexed Annuities Term Minimum	10 years
Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value of Collateral	$ 4,770	$ 2,617

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Short-term debt:
Bank Credit Facility	$ 0	$ 0
Long-term debt, current and noncurrent:
Long-term debt	$ 247,146	$ 246,975

Debt (Details Textual)

Debt (Details Textual) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Current Unsecured Bank Credit Facility [Member]
Debt
Line of Credit Facility, Expiration Date	Jul. 30, 2019
Senior Note 4.50 % [Member] | Senior Notes 2025 [Member]
Debt
Debt Instrument, Unamortized Discount	$ 617	$ 654
Debt Instrument, Interest Rate, Stated Percentage	4.50%	4.50%
Debt Instrument, Face Amount	$ 250,000
Debt Instrument, Maturity Date	Dec. 1, 2025	Dec. 1, 2025
Unamortized Debt Issuance Expense	$ 2,237	$ 2,371

Reinsurance (Details)

Reinsurance (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Effects of reinsurance on premiums and benefits
Premiums written and contract deposits, Gross Amount	$ 356,155	$ 331,223	$ 960,945	$ 966,867
Premiums written and contract deposits, Ceded to Other Companies	5,555	5,952	17,244	18,260
Premiums written and contract deposits, Assumed from Other Companies	934	927	2,881	2,720
Premiums written and contract deposits, Net Amount	351,534	326,198	946,582	951,327
Premiums and contract charges earned, Gross Amount	195,654	187,813	579,283	560,818
Premiums and contract charges earned, Ceded to Other Companies	5,584	5,961	17,305	18,608
Premiums and contract charges earned, Assumed from Other Companies	980	960	2,882	2,717
Premiums and contract charges earned, Net Amount	191,050	182,812	564,860	544,927
Benefits, claims and settlement expenses, Gross Amount	139,114	123,061	422,352	378,939
Benefits, claims and settlement expenses, Ceded to Other Companies	4,642	3,034	21,748	13,397
Benefits, claims and settlement expenses, Assumed from Other Companies	1,238	1,154	3,027	2,597
Benefits, claims and settlement expenses, Net Amount	$ 135,710	$ 121,181	$ 403,631	$ 368,139

Commitments (Details Textual)

Commitments (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Commitments And Contingencies Disclosure [Line Items]
Purchase Commitment, Remaining Minimum Amount Committed	$ 184,825	$ 147,139

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Summarized financial information for these segments
Insurance premiums and contract charges earned	$ 191,050	$ 182,812	$ 564,860	$ 544,927
Net investment income	94,847	81,016	270,685	248,324
Net income (loss)	26,923	21,984	63,942	72,442
Assets	10,691,077		10,691,077		$ 10,056,972
Intersegment Eliminations [Member]
Summarized financial information for these segments
Net investment income	(212)	(222)	(644)	(671)
Assets	(33,851)		(33,851)		(37,208)
Property and casualty [Member]
Summarized financial information for these segments
Insurance premiums and contract charges earned	155,727	149,210	461,520	443,616
Net investment income	10,018	7,350	28,997	25,790
Net income (loss)	6,715	11,253	16,047	32,120
Assets	1,147,850		1,147,850		1,098,415
Annuity [Member]
Summarized financial information for these segments
Insurance premiums and contract charges earned	6,448	6,541	18,614	19,280
Net investment income	66,174	56,271	186,950	169,846
Net income (loss)	15,732	8,716	39,348	32,973
Assets	7,437,926		7,437,926		7,001,411
Life [Member]
Summarized financial information for these segments
Insurance premiums and contract charges earned	28,875	27,061	84,726	82,031
Net investment income	18,852	17,612	55,338	53,342
Net income (loss)	4,583	3,619	13,072	10,647
Assets	1,997,990		1,997,990		1,862,719
Corporate and other [Member]
Summarized financial information for these segments
Net investment income	15	5	44	17
Net income (loss)	(107)	$ (1,604)	(4,525)	$ (3,298)
Assets	$ 141,162		$ 141,162		$ 131,635