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Net Investment Income
 3 Months Ended
Mar. 31, 2018
Net Investment Income [Abstract]  
Net Investment Income
Net Investment Income
Net investment income consists of the following: 
 
For the Three Months Ended March 31,
 
(In thousands)
2018
 
2017
Investment income earned on:
 
 
 
Fixed maturity securities, including cash and cash equivalents and loans receivable
$
123,246

 
$
112,346

Investment funds
40,354

 
26,649

Arbitrage trading account
5,191

 
6,360

Real estate
6,568

 
4,566

Equity securities
646

 
639

Gross investment income
176,005

 
150,560

Investment expense
(1,487
)
 
(1,702
)
Net investment income
$
174,518

 
$
148,858