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Realized And Unrealized Investment Gains (Losses)
 3 Months Ended
Mar. 31, 2018
Realized and Unrealized Investment Gains (Losses) [Abstract]  
Realized and Unrealized Investment Gains (Losses)
Realized and Unrealized Gains (Losses) on Investments

 Net realized and unrealized gains (losses) on investments are as follows:
 
For the Three Months Ended March 31,
(In thousands)
2018
 
2017
Net realized and unrealized gains (losses) on investments in earnings
 
 
 
Fixed maturity securities:
 
 
 
Gains
$
13,339

 
$
5,605

Losses
(3,740
)
 
(3,965
)
Equity securities (1):
 
 
 
Net realized gains on investment sales
122,321

 
42,707

Change in unrealized gains
(94,205
)
 
—

Investment funds
119

 
1,267

Real estate
7,998

 
3,300

Loans receivable
2,058

 
—

Other
574

 
3,434

Net realized and unrealized gains on investments in earnings before OTTI
48,464

 
52,348

Other-than-temporary impairments (2)
—

 
—

   Net realized and unrealized gains on investments in earnings
48,464

 
52,348

Income tax expense
(10,177
)
 
(18,322
)
    After-tax net realized and unrealized gains on investments in earnings
$
38,287

 
$
34,026


Change in unrealized investment gains of available for sale securities:
 
 
 
Fixed maturity securities
$
(159,727
)
 
$
37,984

Previously impaired fixed maturity securities
13

 
101

Equity securities available for sale (3)
—

 
(48,862
)
Investment funds
(1,134
)
 
1,206

Total change in unrealized investment gains
(160,848
)
 
(9,571
)
Income tax benefit
35,076

 
740

Noncontrolling interests
(11
)
 
19

After-tax change in unrealized investment gains of available for sale securities
$
(125,783
)
 
$
(8,812
)
______________________
(1) The net realized gains or losses on investment sales represent the total gains or losses from the purchase dates of the equity securities. The change in unrealized gains consists of two components: (i) the reversal of the gain or loss recognized in previous periods on equity securities sold and (ii) the change in unrealized gain or loss resulting from mark-to-market adjustments on equity securities still held.
(2) There were no other than temporary impairments (OTTI) for the three months ended March 31, 2018 and 2017.
(3) Effective January 1, 2018, the Company adopted new accounting guidance that requires all equity investments with readily determinable fair values (subject to certain exceptions) to be measured at fair value with changes in the fair value recognized in net income. The Company recorded an adjustment of $291 million to opening AOCI net of tax as a result of this guidance. Refer to Note 3 for further information.