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Fixed Maturity Securities in an Unrealized Loss Position
 12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Fixed Maturity Securities in an Unrealized Loss Position Fixed Maturity Securities in an Unrealized Loss Position
The following tables summarize all fixed maturity securities in an unrealized loss position at December 31, 2021 and 2020 by the length of time those securities have been continuously in an unrealized loss position.
 Less Than 12 Months12 Months or GreaterTotal
(In thousands)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
December 31, 2021      
U.S. government and government agency$487,712 $4,026 $17,021 $268 $504,733 $4,294 
State and municipal502,333 7,403 29,547 2,156 531,880 9,559 
Mortgage-backed securities558,751 6,900 106,130 4,762 664,881 11,662 
Asset-backed securities3,832,944 18,503 75,385 291 3,908,329 18,794 
Corporate2,582,860 29,322 51,095 3,088 2,633,955 32,410 
Foreign government758,975 15,793 82,057 31,701 841,032 47,494 
Fixed maturity securities$8,723,575 $81,947 $361,235 $42,266 $9,084,810 $124,213 
December 31, 2020     
U.S. government and government agency$47,649 $347 $17 $— $47,666 $347 
State and municipal147,754 1,165 20,528 904 168,282 2,069 
Mortgage-backed securities212,388 5,121 23,943 230 236,331 5,351 
Asset-backed securities1,389,133 6,563 656,877 26,934 2,046,010 33,497 
Corporate612,177 6,721 39,985 1,759 652,162 8,480 
Foreign government143,729 22,871 6,218 21,577 149,947 44,448 
Fixed maturity securities$2,552,830 $42,788 $747,568 $51,404 $3,300,398 $94,192 
Substantially all of the securities in an unrealized loss position are rated investment grade, except for the securities in the foreign government classification. A significant amount of the unrealized loss on foreign government securities is the result of changes in currency exchange rates.
Fixed Maturity Securities — A summary of the Company’s non-investment grade fixed maturity securities that were in an unrealized loss position at December 31, 2021 is presented in the table below:
($ in thousands)Number of
Securities		Aggregate
Fair Value		Gross
Unrealized
Loss
Foreign government38 $130,621 $38,849 
Corporate8 26,903 1,644 
Mortgage-backed securities4 210 13 
Asset-backed securities2 154 14 
State and municipal 1 14,594 411 
Total53 $172,482 $40,931 
For fixed maturity securities that management does not intend to sell or to be required to sell, the portion of the decline in value that is considered to be due to credit factors is recognized in earnings, and the portion of the decline in value that is considered to be due to non-credit factors is recognized in other comprehensive income.
The Company has evaluated its fixed maturity securities in an unrealized loss position and believes the unrealized losses are due primarily to temporary market and sector-related factors rather than to issuer-specific factors. None of these securities are delinquent or in default under financial covenants. Based on its assessment of these issuers, the Company expects them to continue to meet their contractual payment obligations as they become due.