Fixed Maturity Securities In An Unrealized Loss Position (Tables)

3 Months Ended

Mar. 31, 2024

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 March 31, 2024 and December 31, 2023 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
March 31, 2024
U.S. government and government agency	$	439,699	$	6,725	$	666,947	$	48,531	$	1,106,646	$	55,256
State and municipal	308,609		3,376		1,764,296		120,513		2,072,905		123,889
Mortgage-backed	288,696		5,023		1,374,227		189,936		1,662,923		194,959
Asset-backed	1,055,695		3,765		1,282,145		60,820		2,337,840		64,585
Corporate	1,532,300		16,754		4,372,753		231,251		5,905,053		248,005
Foreign government	321,236		5,078		754,322		169,269		1,075,558		174,347
Fixed maturity securities	$	3,946,235	$	40,721	$	10,214,690	$	820,320	$	14,160,925	$	861,041
December 31, 2023
U.S. government and government agency	$	384,392	$	6,655	$	614,623	$	51,014	$	999,015	$	57,669
State and municipal	264,273		3,013		1,680,034		119,449		1,944,307		122,462
Mortgage-backed	278,819		2,025		1,360,748		175,131		1,639,567		177,156
Asset-backed	413,511		2,070		2,176,035		71,136		2,589,546		73,206
Corporate	874,754		11,975		4,418,309		231,288		5,293,063		243,263
Foreign government	204,908		1,758		794,174		135,661		999,082		137,419
Fixed maturity securities	$	2,420,657	$	27,496	$	11,043,923	$	783,679	$	13,464,580	$	811,175

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 March 31, 2024 is presented in the table below:

($ in thousands)	Number of Securities	Aggregate Fair Value		Gross Unrealized Loss
Foreign government	36	$	93,212	$	141,742
State and municipal	5	24,438		4,918
Corporate	25	42,772		2,291
Mortgage-backed	15	4,526		237
Asset-backed	4	86		70
Total	85	$	165,034	$	149,258