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Net Investment Income
 12 Months Ended
Dec. 31, 2023
Net Investment Income [Abstract]  
Net Investment Income Net Investment Income
Net investment income consists of the following:
(In thousands)202320222021
Investment income (loss) earned on:   
Fixed maturity securities, including cash and cash equivalents and loans receivable$929,098 $549,281 $382,001 
Arbitrage trading account (1)69,369 45,213 37,676 
Equity securities55,726 52,600 32,020 
Investment funds16,743 145,099 220,014 
Real estate
(11,185)(3,087)7,703 
Gross investment income1,059,751 789,106 679,414 
Investment expense(6,916)(9,921)(7,796)
Net investment income$1,052,835 $779,185 $671,618