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Fixed Maturity Securities in an Unrealized Loss Position (Tables)
12 Months Ended
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Securities In An Unrealized Loss Position
The following tables summarize all fixed maturity securities in an unrealized loss position at December 31, 2022 and 2021 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, 2022      
U.S. government and government agency$285,391 $10,219 $453,520 $58,939 $738,911 $69,158 
State and municipal1,720,443 89,272 598,797 79,320 2,319,240 168,592 
Mortgage-backed securities1,099,549 75,430 473,318 115,528 1,572,867 190,958 
Asset-backed securities1,569,647 48,390 2,176,638 103,932 3,746,285 152,322 
Corporate3,690,856 150,115 2,349,281 256,631 6,040,137 406,746 
Foreign government477,672 29,815 711,786 105,243 1,189,458 135,058 
Fixed maturity securities$8,843,558 $403,241 $6,763,340 $719,593 $15,606,898 $1,122,834 
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 $124,213 
Non-Investment Grade Fixed Maturity Securities A summary of the Company’s non-investment grade fixed maturity securities that were in an unrealized loss position at December 31, 2022 is presented in the table below:
($ in thousands)Number of
Securities
Aggregate
Fair Value
Gross
Unrealized
Loss
Foreign government36 $119,332 $73,900 
Corporate10 39,347 4,649 
State and municipal12,247 2,756 
Mortgage-backed securities14 4,464 269 
Asset-backed securities16 10 
Total62 $175,406 $81,584