Net Investment Income

6 Months Ended

Jun. 30, 2023

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)	2023		2022		2023		2022
Investment income (loss) earned on:
Fixed maturity securities, including cash and cash equivalents and loans receivable	$	217,830	$	124,389	$	413,473	$	225,673
Arbitrage trading account (1)	17,037		4,127		35,293		13,313
Equity securities	15,254		12,797		29,000		23,653
Investment funds	(1,186)		33,861		993		85,874
Real estate	(2,123)		(1,551)		(5,834)		595
Gross investment income	246,812		173,623		472,925		349,108
Investment expense	(1,660)		(2,049)		(4,374)		(4,022)
Net investment income	$	245,152	$	171,574	$	468,551	$	345,086