Fair Value (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value [Abstract]

Fair Value Measurement Levels For All Assets And Liabilities

			Fair Value Measurement Using:
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs
(Dollars in thousands)	June 30, 2020		(Level 1)		(Level 2)		(Level 3)
Assets:
Fixed maturities, market value
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	1,434,931	$	-	$	1,434,931	$	-
Obligations of U.S. States and political subdivisions		532,281		-		532,281		-
Corporate securities		6,617,788		-		5,895,954		721,834
Asset-backed securities		1,069,558		-		773,828		295,730
Mortgage-backed securities
Commercial		919,796		-		919,796		-
Agency residential		2,089,251		-		2,089,251		-
Non-agency residential		3,111		-		3,111		-
Foreign government securities		1,501,200		-		1,501,200		-
Foreign corporate securities		2,887,343		-		2,881,069		6,274
Total fixed maturities, market value		17,055,259		-		16,031,421		1,023,838
Fixed maturities, fair value		4,431		-		-		4,431
Equity securities, fair value		949,170		875,708		63,585		9,877
Liabilities:
Equity index put option contracts	$	9,088	$	-	$	-	$	9,088

				Fair Value Measurement Using:
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs
(Dollars in thousands)	December 31, 2019		(Level 1)		(Level 2)		(Level 3)
Assets:
Fixed maturities, market value
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	1,515,803	$	-	$	1,515,803	$	-
Obligations of U.S. States and political subdivisions		536,915		-		536,915		-
Corporate securities		6,374,946		-		5,757,358		617,588
Asset-backed securities		897,333		-		743,692		153,641
Mortgage-backed securities
Commercial		844,557		-		844,557		-
Agency residential		2,198,581		-		2,198,581		-
Non-agency residential		5,703		-		5,703		-
Foreign government securities		1,505,950		-		1,505,950		-
Foreign corporate securities		2,945,156		-		2,943,406		1,750
Total fixed maturities, market value		16,824,944		-		16,051,965		772,979
Fixed maturities, fair value		5,826		-		-		5,826
Equity securities, fair value		931,457		864,584		66,873		-
Liabilities:
Equity index put option contracts	$	5,584	$	-	$	-	$	5,584

Activity Under Level 3, Fair Value Measurements Using Significant Unobservable Inputs By Asset Type

		Total Fixed Maturities, Market Value
	Three Months Ended June 30, 2020								Six Months Ended June 30, 2020
	Corporate		Asset-Backed		Foreign				Corporate		Asset-Backed			Foreign
(Dollars in thousands)	Securities		Securities		Corporate		Total		Securities		Securities			Corporate		Total
Beginning balance fixed maturities at market value	$	713,081	$	238,631	$	-	$	951,712	$	617,588	$	153,641		$	1,750	$	772,979
Total gains or (losses) (realized/unrealized)
Included in earnings		(248)		121		(97)		(224)		(462)		125			(97)		(434)
Included in other comprehensive income (loss)		(549)		18,092		(40)		17,503		(3,906)		2,210			(40)		(1,736)
Purchases, issuances and settlements		14,345		38,886		5,434		58,665		113,409		139,754			3,684		256,847
Transfers in and/or (out) of Level 3		(4,795)		-		977		(3,818)		(4,795)		-			977		(3,818)
Ending balance	$	721,834	$	295,730	$	6,274	$	1,023,838	$	721,834	$	295,730		$	6,274	$	1,023,838
The amount of total gains or losses for the period
included in earnings (or changes in net assets)
attributable to the change in unrealized gains
or losses relating to assets still held
at the reporting date	$	-	$	-	$	-	$	-	$	(539)	$	-	$	$	-	$	(539)
(Some amounts may not reconcile due to rounding.)

		Total Fixed Maturities, Market Value
		Three Months Ended June 30, 2019						Six Months Ended June 30, 2019
	Corporate		Foreign				Corporate		Foreign
(Dollars in thousands)	Securities		Corporate		Total		Securities		Corporate		Total
Beginning balance fixed maturities at market value	$	437,826	$	7,298	$	445,124	$	428,215	$	7,744	$	435,959
Total gains or (losses) (realized/unrealized)
Included in earnings		(2,528)		(238)		(2,766)		2,330		(119)		2,211
Included in other comprehensive income (loss)		1,871		-		1,871		2,444		-		2,444
Purchases, issuances and settlements		101,732		(4,967)		96,765		108,370		(5,532)		102,838
Transfers in and/or (out) of Level 3		3,977		-		3,977		1,519		-		1,519
Ending balance	$	542,878	$	2,093	$	544,971	$	542,878	$	2,093	$	544,971
The amount of total gains or losses for the period
included in earnings (or changes in net assets)
attributable to the change in unrealized gains
or losses relating to assets still held
at the reporting date	$	-	$	-	$	-	$	-	$	-	$	-
(Some amounts may not reconcile due to rounding.)

	Total Fixed Maturities, Fair Value
	Three Months Ended June 30, 2020				Six Months Ended June 30, 2020
	Foreign				Foreign
(Dollars in thousands)		Corporate	Total		Corporate		Total
Beginning balance fixed maturities at market value	$	4,703	$	4,703	$	5,826	$	5,826
Total gains or (losses) (realized/unrealized)
Included in earnings		(272)		(272)		(1,395)		(1,395)
Included in other comprehensive income (loss)		-		-		-		-
Purchases, issuances and settlements		-		-		-		-
Transfers in and/or (out) of Level 3		-		-		-		-
Ending balance	$	4,431	$	4,431	$	4,431	$	4,431
The amount of total gains or losses for the period
included in earnings (or changes in net assets)
attributable to the change in unrealized gains
or losses relating to assets still held
at the reporting date	$	-	$	-	$	-	$	-
(Some amounts may not reconcile due to rounding.)

	Total Fixed Maturities, Fair Value
	Three Months Ended June 30, 2019				Six Months Ended June 30, 2019
	Foreign				Foreign
(Dollars in thousands)		Corporate	Total		Corporate		Total
Beginning balance fixed maturities at market value	$	2,350	$	2,350	$	2,337	$	2,337
Total gains or (losses) (realized/unrealized)
Included in earnings		356		356		369		369
Included in other comprehensive income (loss)		-		-		-		-
Purchases, issuances and settlements		(2,706)		(2,706)		(2,706)		(2,706)
Transfers in and/or (out) of Level 3		-		-		-		-
Ending balance	$	-	$	-	$	-	$	-
The amount of total gains or losses for the period
included in earnings (or changes in net assets)
attributable to the change in unrealized gains
or losses relating to assets still held
at the reporting date	$	-	$	-	$	-	$	-
(Some amounts may not reconcile due to rounding.)

Fair Value Measurements Using Significant Unobservable Inputs For Equity Index Put Option Contracts

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2020		2019		2020		2019
Common Stock
Balance, beginning of period	$	-	$	-	$	-	$	-
Total (gains) or losses (realized/unrealized)
Included in earnings		-		-		-		-
Included in other comprehensive income (loss)		-		-		-		-
Purchases, issuances and settlements		9,877		-		9,877		-
Transfers in and/or (out) of Level 3		-		-		-		-
Balance, end of period	$	9,877	$	-	$	9,877	$	-
The amount of total gains or losses for the period included in earnings
(or changes in net assets) attributable to the change in unrealized
gains or losses relating to liabilities still held at the reporting date	$	-	$	-	$	-	$	-
(Some amounts may not reconcile due to rounding.)

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2020		2019		2020		2019
Liabilities:
Balance, beginning of period	$	20,958	$	8,727	$	5,584	$	11,958
Total (gains) or losses (realized/unrealized)
Included in earnings		(11,869)		(353)		3,504		(3,584)
Included in other comprehensive income (loss)		-		-		-		-
Purchases, issuances and settlements		-		-		-		-
Transfers in and/or (out) of Level 3		-		-		-		-
Balance, end of period	$	9,088	$	8,374	$	9,088	$	8,374
The amount of total gains or losses for the period included in earnings
(or changes in net assets) attributable to the change in unrealized
gains or losses relating to liabilities still held at the reporting date	$	-	$	-	$	-	$	-
(Some amounts may not reconcile due to rounding.)