| Carrying Amounts And Estimated Fair Values Of Financial Instruments |
The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments: | | | | | | | | | | | | | | | | | | September 30, 2014 | | December 31, 2013 | (In thousands) | Carrying Value | | Fair Value | | Carrying Value | | Fair Value | Assets: | | | | | | | | Fixed maturity securities | $ | 12,397,756 |
| | $ | 12,418,016 |
| | $ | 11,616,844 |
| | $ | 11,631,744 |
| Equity securities available for sale | 222,024 |
| | 222,024 |
| | 283,338 |
| | 283,338 |
| Arbitrage trading account | 918,223 |
| | 918,223 |
| | 522,128 |
| | 522,128 |
| Loans receivable | 343,300 |
| | 346,622 |
| | 343,583 |
| | 346,746 |
| Cash and cash equivalents | 1,342,285 |
| | 1,342,285 |
| | 839,738 |
| | 839,738 |
| Trading account receivables from brokers and clearing organizations | — |
| | — |
| | 304,936 |
| | 304,936 |
| Due from broker | — |
| | — |
| | 17,735 |
| | 17,735 |
| Liabilities: | | | | | | | | Due to broker | 58,926 |
| | 58,926 |
| | 8,273 |
| | 8,273 |
| Trading account payable to brokers and clearing organizations | 95,681 |
| | 95,681 |
| | — |
| | — |
| Trading account securities sold but not yet purchased | 159,537 |
| | 159,537 |
| | 162,278 |
| | 162,278 |
| Junior subordinated debentures | 339,995 |
| | 326,480 |
| | 339,800 |
| | 288,540 |
| Senior notes and other debt | 2,122,030 |
| | 2,341,816 |
| | 1,692,442 |
| | 1,861,898 |
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