XML 49 R39.htm IDEA: XBRL DOCUMENT v3.19.2
Realized And Unrealized Investment Gains (Losses) on Investments (Tables)
 6 Months Ended
Jun. 30, 2019
Realized and Unrealized Investment Gains (Losses) [Abstract]  
Realized And Unrealized Investment Gains (Losses) Net realized and unrealized gains (losses) on investments are as follows:
 
For the Three Months
Ended June 30,
 
For the Six Months
Ended June 30,
(In thousands)
2019
 
2018
 
2019
 
2018
Net realized and unrealized gains (losses) on investments in earnings
 
 
 
 
 

 
 

Fixed maturity securities:
 
 
 
 
 

 
 

Gains
$
3,157

 
$
7,921

 
$
8,403

 
$
21,260

Losses
(3,377
)
 
(4,125
)
 
(6,895
)
 
(7,865
)
Equity securities (1):
 
 
 
 
 
 
 
Net realized (losses) gains on investment sales
(6
)
 
119,422

 
23,339

 
241,743

Change in unrealized gains (losses)
69,418

 
(54,652
)
 
111,496

 
(148,857
)
Investment funds
41

 
(353
)
 
58

 
(234
)
Real estate
3,021

 
(402
)
 
5,767

 
7,596

Loans receivable
—

 
1

 
(970
)
 
2,059

Other
1,320

 
1,819

 
1,028

 
2,393

Net realized and unrealized gains on investments in earnings before OTTI
73,574

 
69,631

 
142,226

 
118,095

Other-than-temporary impairments
—

 
—

 
—

 
—

Net realized and unrealized gains on investments in earnings
73,574

 
69,631

 
142,226

 
118,095

Income tax expense
(15,451
)
 
(14,623
)
 
(29,867
)
 
(24,800
)
After-tax net realized and unrealized gains on investments in earnings
$
58,123

 
$
55,008

 
$
112,359

 
$
93,295


Change in unrealized investment gains (losses) of available for sale securities:
 
 
 
 
 

 
 
Fixed maturity securities
$
146,629

 
$
(36,848
)
 
$
321,123

 
$
(196,575
)
Previously impaired fixed maturity securities
81

 
(2
)
 
12

 
11

Investment funds
361

 
(3,638
)
 
(4,804
)
 
(4,772
)
Total change in unrealized investment gains (losses)
147,071

 
(40,488
)
 
316,331

 
(201,336
)
Income tax (expense) benefit
(28,422
)
 
8,118

 
(71,907
)
 
43,194

Noncontrolling interests
30

 
37

 
(18
)
 
26

After-tax change in unrealized investment gains (losses) of available for sale securities
$
118,679

 
$
(32,333
)
 
$
244,406

 
$
(158,116
)
______________________
(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.