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Net Investment Income Net Investment Income
3 Months Ended
Mar. 31, 2017
Income Statement [Abstract]  
Net Investment Income
Net Investment Income
Net investment income consisted of the following: 
 
For the Three Months
 
Ended March 31,
(In thousands)
2017
 
2016
Investment income earned on:
 
 
 
Fixed maturity securities, including cash and cash equivalents and loans receivable
$
112,346

 
$
108,835

Investment funds
26,649

 
16,636

Arbitrage trading account
6,360

 
3,190

Real estate
4,566

 
2,717

Equity securities available for sale
639

 
868

Gross investment income
150,560

 
132,246

Investment expense
(1,702
)
 
(2,113
)
Net investment income
$
148,858

 
$
130,133