Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Carrying Amounts and Estimated Fair Values of Financial Insruments

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments as of December 31, 2023 and 2022:

	2023				2022
(In thousands)	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Fixed maturity securities	$	20,178,308	$	20,181,547	$	17,587,349	$	17,591,626
Equity securities	1,090,347		1,090,347		1,185,894		1,185,894
Arbitrage trading account	938,049		938,049		944,230		944,230
Loans receivable	201,271		198,244		193,002		187,981
Cash and cash equivalents	1,363,195		1,363,195		1,449,346		1,449,346
Trading accounts receivable from brokers and clearing organizations	303,614		303,614		233,863		233,863
Due from broker	36,747		36,747		3,609		3,609
Liabilities:
Trading account securities sold but not yet purchased	9,357		9,357		—		—
Senior notes and other debt	1,827,951		1,480,076		1,828,823		1,439,188
Subordinated debentures	1,009,090		929,598		1,008,371		805,600