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Net Investment Income Net Investment Income
 3 Months Ended
Mar. 31, 2015
Income Statement [Abstract]  
Net Investment Income
Net Investment Income
Net investment income consists of the following: 
 
For the Three Months
 
Ended March 31,
(In thousands)
2015
 
2014
Investment income earned on:
 
 
 
Fixed maturity securities, including cash and cash equivalents and loans receivable
$
108,129

 
$
106,898

Investment funds
6,061

 
53,799

Arbitrage trading account
8,979

 
5,519

Equity securities available for sale
1,180

 
1,946

Real estate
2,767

 
3,102

Gross investment income
127,116

 
171,264

Investment expense
(2,877
)
 
(2,553
)
Net investment income
$
124,239

 
$
168,711