Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

Carrying Amounts and Estimated Fair Values of Financial Insruments

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments as of December 31, 2017 and 2016:

	2017				2016
(In thousands)	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Fixed maturity securities	$	13,551,250	$	13,566,976	$	13,190,668	$	13,204,814
Equity securities available for sale	576,647		576,647		669,200		669,200
Arbitrage trading account	617,649		617,649		299,999		299,999
Loans receivable	79,684		82,047		106,798		108,299
Cash and cash equivalents	950,471		950,471		795,285		795,285
Trading accounts receivable from brokers and clearing organizations	189,280		189,280		484,593		484,593
Liabilities:
Due to broker	15,920		15,920		19,416		19,416
Trading account securities sold but not yet purchased	64,358		64,358		51,179		51,179
Subordinated debentures	728,218		769,060		727,630		687,504
Senior notes and other debt	1,769,052		1,945,313		1,760,595		1,914,727