Investments (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023		2022		2021
	(Amounts in thousands)
Fixed maturity securities	$	62,833	$	(260,223)	$	(39,649)
Equity securities	45,046		(185,694)		107,701
Short-term investments	107		88		(141)
Total gains (losses)	$	107,986	$	(445,829)	$	67,911

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,
	2023						2022						2021
	(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	$	1,783	$	(3,246)	$	(1,463)	$	863	$	(71,425)	$	(70,562)	$	2,306	$	(6,690)	$	(4,384)
Equity securities	76,844		(91,109)		(14,265)		86,168		(61,252)		24,916		64,061		(18,826)		45,235
Short-term investments	—		(4)		(4)		8		(2,500)		(2,492)		236		(381)		(145)

Estimated Fair Values Of Investments

The following table presents the estimated fair values of the Company's fixed maturity securities at December 31, 2023 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	$	306,970
Due after one year through five years	935,982
Due after five years through ten years	888,429
Due after ten years	2,187,955
Total	$	4,319,336

Investment Income

The following table presents a summary of net investment income:

	Year Ended December 31,
	2023		2022		2021
	(Amounts in thousands)
Fixed maturity securities	$	173,167	$	127,336	$	100,001
Equity securities	44,223		43,495		35,064
Cash and Short-term investments	23,741		3,495		1,059
Total investment income	$	241,131	$	174,326	$	136,124
Less: investment expense	(6,501)		(5,970)		(6,397)
Net investment income	$	234,630	$	168,356	$	129,727