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Investments (Tables)
 9 Months Ended
Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]  
Schedule of investments available for sale
Investments available for sale consist of the following:
September 30, 2021 (In thousands)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
U.S. Treasury securities$327,320 $5,117 $(1,221)$331,216 
U.S. agency securities5,507 29 — 5,536 
U.S. agency mortgage-backed securities976,415 18,543 (5,406)989,552 
Municipal debt securities (1)561,493 31,861 (896)592,458 
Non-U.S. government securities77,424 3,756 (1,186)79,994 
Corporate debt securities (2)1,487,833 43,907 (7,596)1,524,144 
Residential and commercial mortgage securities529,822 13,573 (4,209)539,186 
Asset-backed securities553,127 2,235 (887)554,475 
Money market funds253,456 — — 253,456 
Total investments available for sale$4,772,397 $119,021 $(21,401)$4,870,017 
December 31, 2020 (In thousands)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
U.S. Treasury securities$259,378 $9,088 $(22)$268,444 
U.S. agency securities17,930 155 — 18,085 
U.S. agency mortgage-backed securities963,670 33,205 (970)995,905 
Municipal debt securities (1)513,870 37,662 (15)551,517 
Non-U.S. government securities56,045 5,562 — 61,607 
Corporate debt securities (2)1,070,027 56,864 (379)1,126,512 
Residential and commercial mortgage securities391,921 18,641 (1,280)409,282 
Asset-backed securities452,527 3,246 (1,056)454,717 
Money market funds679,322 — (18)679,304 
Total investments available for sale$4,404,690 $164,423 $(3,740)$4,565,373 
 September 30,December 31,
(1) The following table summarizes municipal debt securities as of :20212020
Special revenue bonds78.0 %76.8 %
General obligation bonds19.4 20.3 
Certificate of participation bonds 2.0 2.3 
Tax allocation bonds0.6 0.6 
Total100.0 %100.0 %
 September 30,December 31,
(2) The following table summarizes corporate debt securities as of :20212020
Financial35.8 %34.9 %
Consumer, non-cyclical19.2 19.1 
Communications11.7 9.3 
Industrial7.6 5.3 
Consumer, cyclical6.4 8.0 
Energy5.5 8.2 
Technology5.4 6.1 
Utilities4.9 5.9 
Basic materials3.4 3.1 
Government0.1 0.1 
Total100.0 %100.0 %
Schedule of amortized cost and fair value of investments available for sale by contractual maturity
The amortized cost and fair value of investments available for sale at September 30, 2021, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Because most U.S. agency mortgage-backed securities, residential and commercial mortgage securities and asset-backed securities provide for periodic payments throughout their lives, they are listed below in separate categories.
 
(In thousands)Amortized
Cost		Fair
Value
U.S. Treasury securities:  
Due in 1 year$41,836 $41,915 
Due after 1 but within 5 years253,103 255,311 
Due after 5 but within 10 years31,396 32,960 
Due after 10 years985 1,030 
Subtotal327,320 331,216 
U.S. agency securities:  
Due in 1 year5,507 5,536 
Subtotal5,507 5,536 
Municipal debt securities:  
Due in 1 year9,058 9,099 
Due after 1 but within 5 years120,844 126,574 
Due after 5 but within 10 years220,458 235,041 
Due after 10 years211,133 221,744 
Subtotal561,493 592,458 
Non-U.S. government securities:
Due in 1 year4,370 4,426 
Due after 1 but within 5 years24,290 25,795 
Due after 5 but within 10 years21,457 23,497 
Due after 10 years27,307 26,276 
Subtotal77,424 79,994 
Corporate debt securities:  
Due in 1 year174,413 175,621 
Due after 1 but within 5 years664,536 681,475 
Due after 5 but within 10 years398,353 410,404 
Due after 10 years250,531 256,644 
Subtotal1,487,833 1,524,144 
U.S. agency mortgage-backed securities976,415 989,552 
Residential and commercial mortgage securities529,822 539,186 
Asset-backed securities553,127 554,475 
Money market funds253,456 253,456 
Total investments available for sale$4,772,397 $4,870,017 
Schedule of realized gross gains and losses on sale of investments available for sale
Gross gains and losses realized on the sale of investments available for sale were as follows:
 
 Three Months Ended September 30,Nine Months Ended September 30,
(In thousands)2021202020212020
Realized gross gains$654 $391 $1,422 $4,916 
Realized gross losses433 124 813 2,354 
Schedule of fair value of investments in an unrealized loss position and related unrealized losses
The fair value of investments available for sale in an unrealized loss position and the related unrealized losses for which no allowance for credit loss has been recorded were as follows:
 
 Less than 12 months12 months or moreTotal
September 30, 2021 (In thousands)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
U.S. Treasury securities$192,231 $(1,221)$— $— $192,231 $(1,221)
U.S. agency mortgage-backed securities431,344 (5,119)23,894 (287)455,238 (5,406)
Municipal debt securities64,368 (896)— — 64,368 (896)
Non-U.S. government securities23,561 (1,186)— — 23,561 (1,186)
Corporate debt securities413,519 (6,772)16,215 (824)429,734 (7,596)
Residential and commercial mortgage securities
230,806 (3,517)20,589 (692)251,395 (4,209)
Asset-backed securities271,485 (717)18,149 (170)289,634 (887)
Total$1,627,314 $(19,428)$78,847 $(1,973)$1,706,161 $(21,401)
 
 Less than 12 months12 months or moreTotal
December 31, 2020 (In thousands)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
U.S. Treasury securities$28,776 $(22)$— $— $28,776 $(22)
U.S. agency mortgage-backed securities152,671 (924)3,007 (46)155,678 (970)
Municipal debt securities3,838 (15)— — 3,838 (15)
Corporate debt securities141,803 (379)— — 141,803 (379)
Residential and commercial mortgage securities
63,203 (777)9,516 (503)72,719 (1,280)
Asset-backed securities124,165 (483)65,897 (573)190,062 (1,056)
Money market funds99,995 (18)— — 99,995 (18)
Total$614,451 $(2,618)$78,420 $(1,122)$692,871 $(3,740)
Schedule of net investment income
Net investment income consists of: 
 Three Months Ended September 30,Nine Months Ended September 30,
(In thousands)2021202020212020
Fixed maturities$23,001 $19,952 $69,037 $61,135 
Short-term investments30 86 158 1,566 
Gross investment income23,031 20,038 69,195 62,701 
Investment expenses(1,458)(1,399)(4,091)(3,563)
Net investment income$21,573 $18,639 $65,104 $59,138