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Net Investment Income
 9 Months Ended
Sep. 30, 2019
Net Investment Income [Abstract]  
Net Investment Income Net Investment Income
Net investment income consisted of the following: 
 
For the Three Months
Ended September 30,
 
For the Nine Months
Ended September 30,
 
 
(In thousands)
2019
 
2018
 
2019
 
2018
Investment income earned on:
 
 
 
 
 
 
 
Fixed maturity securities, including cash and cash equivalents and loans receivable
$
125,957

 
$
131,836

 
$
386,978

 
$
384,748

Investment funds
19,033

 
41,005

 
77,284

 
94,075

Arbitrage trading account
8,400

 
7,632

 
26,184

 
21,156

Real estate
7,987

 
5,597

 
17,468

 
15,339

Equity securities
1,392

 
1,004

 
3,984

 
2,208

Gross investment income
162,769

 
187,074

 
511,898

 
517,526

Investment expense
(1,077
)
 
(950
)
 
(3,619
)
 
(3,107
)
Net investment income
$
161,692

 
$
186,124

 
$
508,279

 
$
514,419