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Investments (Tables)
 12 Months Ended
Dec. 31, 2019
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,
 
2019
 
2018
 
2017
 
(Amounts in thousands)
Fixed maturity securities
$
104,379

 
$
(53,927
)
 
$
50,403

Equity securities
90,920

 
(77,494
)
 
37,486

Short-term investments
1,295

 
(1,237
)
 
38

       Total gains (losses)
$
196,594

 
$
(132,658
)
 
$
87,927
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,
 
2019
 
2018
 
2017
 
(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
$
2,413

 
$
(1,066
)
 
$
1,347

 
$
549

 
$
(3,563
)
 
$
(3,014
)
 
$
604

 
$
(2,701
)
 
$
(2,097
)
Equity securities
47,411

 
(28,089
)
 
19,322

 
43,420

 
(45,607
)
 
(2,187
)
 
20,835

 
(23,048
)
 
(2,213
)
Short-term investments
177

 
(2,133
)
 
(1,956
)
 
61

 
(2,429
)
 
(2,368
)
 
21

 
(20
)
 
1
Estimated Fair Values Of Investments
The following table presents the estimated fair values of the Company's fixed maturity securities at December 31, 2019 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
$
105,929

Due after one year through five years
548,638

Due after five years through ten years
287,005

Due after ten years
2,151,703

Total
$
3,093,275
Investment Income
The following table presents a summary of net investment income:
 
Year Ended December 31,
 
2019
 
2018
 
2017
 
(Amounts in thousands)
Fixed maturity securities
$
102,254

 
$
102,198

 
$
102,790

Equity securities
32,233

 
30,496

 
18,554

Short-term investments
12,381

 
8,789

 
8,753

Total investment income
$
146,868

 
$
141,483

 
$
130,097

Less: investment expense
(5,605
)
 
(5,645
)
 
(5,167
)
Net investment income
$
141,263

 
$
135,838

 
$
124,930