Net Investment Income

3 Months Ended

Mar. 31, 2023

Net Investment Income [Abstract]

Net Investment Income

Net Investment Income

    Net investment income consisted of the following: 

	For the Three Months Ended March 31,
(In thousands)	2023		2022
Investment income (loss) earned on:
Fixed maturity securities, including cash and cash equivalents and loans receivable	$	195,642	$	101,284
Arbitrage trading account	18,256		9,187
Equity securities	13,746		10,856
Investment funds	2,180		52,012
Real estate	(3,711)		2,146
Gross investment income	226,113		175,485
Investment expense	(2,715)		(1,973)
Net investment income	$	223,398	$	173,512