XML 46 R32.htm IDEA: XBRL DOCUMENT v3.10.0.1
Investments (Tables)
 12 Months Ended
Dec. 31, 2018
Investments [Abstract]  
Gains And Losses Due To Changes In Fair Value
The following table presents gains (losses) due to changes in fair value of investments that are measured at fair value pursuant to application of the fair value option:
 
Year Ended December 31,
 
2018
 
2017
 
2016
 
(Amounts in thousands)
Fixed maturity securities
$
(53,927
)
 
$
50,403

 
$
(56,584
)
Equity securities
(77,494
)
 
37,486

 
23,722

Short-term investments
(1,237
)
 
38

 
57

       Total (losses) gains
$
(132,658
)
 
$
87,927

 
$
(32,805
)
Gross Gains And Losses Realized On Sales Of Investments
The following table presents gross gains (losses) realized on the sales of investments:
 
Year Ended December 31,
 
2018
 
2017
 
2016
 
(Amounts in thousands)
 
Gross
Realized
Gains
 
Gross
Realized
Losses
 
Net
 
Gross
Realized
Gains
 
Gross
Realized
Losses
 
Net
 
Gross
Realized
Gains
 
Gross
Realized
Losses
 
Net
Fixed maturity securities
$
549

 
$
(3,563
)
 
$
(3,014
)
 
$
604

 
$
(2,701
)
 
$
(2,097
)
 
$
3,327

 
$
(19,133
)
 
$
(15,806
)
Equity securities
43,420

 
(45,607
)
 
(2,187
)
 
20,835

 
(23,048
)
 
(2,213
)
 
29,446

 
(29,945
)
 
(499
)
Short-term investments
61

 
(2,429
)
 
(2,368
)
 
21

 
(20
)
 
1

 
6

 
(530
)
 
(524
)
Estimated Fair Values Of Investments
The following table presents the estimated fair values of the Company's fixed maturity securities at December 31, 2018 by contractual maturity. 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.
 
Estimated Fair Value
 
(Amounts in thousands)
Fixed maturity securities:
 
Due in one year or less
$
166,423

Due after one year through five years
377,334

Due after five years through ten years
208,815

Due after ten years
2,232,589

Total
$
2,985,161
Investment Income
The following table presents a summary of net investment income:
 
Year Ended December 31,
 
2018
 
2017
 
2016
 
(Amounts in thousands)
Fixed maturity securities
$
102,198

 
$
102,790

 
$
104,111

Equity securities
30,496

 
18,554

 
14,629

Short-term investments
8,789

 
8,753

 
8,936

Total investment income
$
141,483

 
$
130,097

 
$
127,676

Less: investment expense
(5,645
)
 
(5,167
)
 
(5,805
)
Net investment income
$
135,838

 
$
124,930

 
$
121,871