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Net Investment Income Net Investment Income
 9 Months Ended
Sep. 30, 2014
Income Statement [Abstract]  
Net Investment Income
Net Investment Income
Net investment income consists of the following: 
 
For the Three Months
 
For the Nine Months
 
Ended September 30,
 
Ended September 30,
(In thousands)
2014
 
2013
 
2014
 
2013
Investment income earned on:
 
 
 
 
 
 
 
Fixed maturity securities, including cash and cash equivalents and loans receivable
$
117,289

 
$
104,033

 
$
331,947

 
$
333,072

Investment funds
59,077

 
5,492

 
135,232

 
45,248

Arbitrage trading account
47

 
11,738

 
12,508

 
14,265

Equity securities available for sale
1,369

 
3,192

 
5,418

 
9,073

Real estate
3,042

 
3,086

 
9,207

 
9,343

Gross investment income
180,824

 
127,541

 
494,312

 
411,001

Investment expense
(1,599
)
 
(1,907
)
 
(7,647
)
 
(5,701
)
Net investment income
$
179,225

 
$
125,634

 
$
486,665

 
$
405,300