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Net Investment Income
6 Months Ended
Jun. 30, 2020
Net Investment Income [Abstract]  
Net Investment Income Net Investment Income
        Net investment income consisted of the following: 
 For the Three Months
Ended June 30,
For the Six Months
Ended June 30,
(In thousands)2020201920202019
Investment income (losses) earned on:
Fixed maturity securities, including cash and cash equivalents and loans receivable$105,843  $128,903  $233,861  $261,022  
Investment funds(57,552) 46,840  (16,975) 58,251  
Arbitrage trading account31,304  7,199  32,442  17,784  
Real estate
5,045  5,174  11,141  9,481  
Equity securities
2,726  1,303  4,288  2,591  
Gross investment income87,366  189,419  264,757  349,129  
Investment expense(1,935) (1,086) (4,563) (2,542) 
Net investment income$85,431  $188,333  $260,194  $346,587