Fixed Maturity Securities In An Unrealized Loss Position (Tables)

9 Months Ended

Sep. 30, 2023

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 September 30, 2023 and December 31, 2022 by the length of time those securities have been continuously in an unrealized loss position:

	Less Than 12 Months				12 Months or Greater				Total
(In thousands)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
September 30, 2023
U.S. government and government agency	$	605,944	$	17,390	$	592,215	$	64,377	$	1,198,159	$	81,767
State and municipal	645,642		15,255		1,728,892		167,938		2,374,534		183,193
Mortgage-backed	688,848		17,058		1,296,384		217,712		1,985,232		234,770
Asset-backed	1,025,656		8,774		2,584,224		100,251		3,609,880		109,025
Corporate	2,091,830		46,758		4,695,101		362,901		6,786,931		409,659
Foreign government	563,657		15,038		779,455		134,550		1,343,112		149,588
Fixed maturity securities	$	5,621,577	$	120,273	$	11,676,271	$	1,047,729	$	17,297,848	$	1,168,002
December 31, 2022
U.S. government and government agency	$	285,391	$	10,219	$	453,520	$	58,939	$	738,911	$	69,158
State and municipal	1,720,443		89,272		598,797		79,320		2,319,240		168,592
Mortgage-backed	1,099,549		75,430		473,318		115,528		1,572,867		190,958
Asset-backed	1,569,647		48,390		2,176,638		103,932		3,746,285		152,322
Corporate	3,690,856		150,115		2,349,281		256,631		6,040,137		406,746
Foreign government	477,672		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

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 September 30, 2023 is presented in the table below:

($ in thousands)	Number of Securities	Aggregate Fair Value		Gross Unrealized Loss
Foreign government	44	$	88,668	$	91,468
Corporate	26	35,644		3,523
State and municipal	5	22,866		6,374
Mortgage-backed	15	4,328		214
Asset-backed	5	244		107
Total	95	$	151,750	$	101,686