| Schedule of Assets and Liabilities Measured at Fair Vale on a Recurring Basis |
All assets measured at fair value are categorized in the table below based upon the lowest level of significant input to the valuations. All fair value measurements at the reporting date were on a recurring basis. | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2022 (In thousands) | | Quoted Prices
in Active
Markets for
Identical
Instruments
(Level 1) | | Significant
Other
Observable
Inputs
(Level 2) | | Significant
Unobservable
Inputs
(Level 3) | | Total | | Recurring fair value measurements | | | | | | | | | | Financial Assets: | | | | | | | | | | U.S. Treasury securities | | $ | 556,438 | | | $ | — | | | $ | — | | | $ | 556,438 | | | U.S. agency securities | | — | | | 49,058 | | | — | | | 49,058 | | | U.S. agency mortgage-backed securities | | — | | | 783,743 | | | — | | | 783,743 | | | Municipal debt securities | | — | | | 602,690 | | | — | | | 602,690 | | | Non-U.S. government securities | | — | | | 62,399 | | | — | | | 62,399 | | | Corporate debt securities | | — | | | 1,414,321 | | | — | | | 1,414,321 | | | Residential and commercial mortgage securities | | — | | | 511,824 | | | — | | | 511,824 | | | Asset-backed securities | | — | | | 624,561 | | | — | | | 624,561 | | | Money market funds | | 136,591 | | | — | | | — | | | 136,591 | | | Total assets at fair value (1) (2) | | $ | 693,029 | | | $ | 4,048,596 | | | $ | — | | | $ | 4,741,625 | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2021 (In thousands) | | Quoted Prices
in Active
Markets for
Identical
Instruments
(Level 1) | | Significant
Other
Observable
Inputs
(Level 2) | | Significant
Unobservable
Inputs
(Level 3) | | Total | | Recurring fair value measurements | | | | | | | | | | Financial Assets: | | | | | | | | | | U.S. Treasury securities | | $ | 448,793 | | | $ | — | | | $ | — | | | $ | 448,793 | | | U.S. agency securities | | — | | | 5,504 | | | — | | | 5,504 | | | U.S. agency mortgage-backed securities | | — | | | 1,008,863 | | | — | | | 1,008,863 | | | Municipal debt securities | | — | | | 627,599 | | | — | | | 627,599 | | | Non-U.S. government securities | | — | | | 79,743 | | | — | | | 79,743 | | | Corporate debt securities | | — | | | 1,455,247 | | | — | | | 1,455,247 | | | Residential and commercial mortgage securities | | — | | | 545,423 | | | — | | | 545,423 | | | Asset-backed securities | | — | | | 581,703 | | | — | | | 581,703 | | | Money market funds | | 210,012 | | | — | | | — | | | 210,012 | | | Total assets at fair value (1) | | $ | 658,805 | | | $ | 4,304,082 | | | $ | — | | | $ | 4,962,887 | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
_______________________________________________________________________________ (1)Does not include the fair value of embedded derivatives, which we have accounted for separately as freestanding derivatives and included in other assets or other accrued liabilities in our consolidated balance sheet. See Note 5 for more information. (2)Does not include certain other invested assets that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient, as applicable accounting standards do not provide for classification within the fair value hierarchy.
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