The following tables present, for each of the fair value hierarchy levels as defined by the accounting guidance for fair value measurements and described below, our Company’s Fixed Maturities and Equity Securities by asset class that are measured at fair value on a recurring basis, as well as the fair value of the 5.75% Senior notes due October 15, 2023 (the “5.75% Senior notes”) carried at amortized cost as of December 31, 2017 and 2016:

	December 31, 2017
amounts in thousands	Level 1		Level 2		Level 3		Total
Fixed Maturities:
U.S. Treasury Bonds, Agency Bonds and Foreign Government Bonds	$	178,251	$	215,312	$	—	$	393,563
States, Municipalities and Political Subdivisions		—		814,632		—		814,632
Mortgage-Backed and Asset-Backed Securities:
Agency Mortgage-Backed Securities		—		407,619		—		407,619
Residential Mortgage Obligations		—		54,104		—		54,104
Asset-Backed Securities		—		328,753		—		328,753
Commercial Mortgage-Backed Securities		—		160,904		—		160,904
Subtotal	$	—	$	951,380	$	—	$	951,380
Corporate Exposures		—		897,479		—		897,479
Total Fixed Maturities	$	178,251	$	2,878,803	$	—	$	3,057,054
Equity Securities:
Common Stocks		52,439		—		—		52,439
Preferred Stocks		—		183,542		—		183,542
Total Equity Securities	$	52,439	$	183,542	$	—	$	235,981
Short-Term Investments		127,128		—		—		127,128
Total Assets Measured at Fair Value	$	357,818	$	3,062,345	$	—	$	3,420,163
Senior Notes	$	—	$	277,951	$	—	$	277,951
Total Liabilities Measured at Fair Value	$	—	$	277,951	$	—	$	277,951
	December 31, 2016
amounts in thousands	Level 1		Level 2		Level 3		Total
Fixed Maturities:
U.S. Treasury Bonds, Agency Bonds and Foreign Government Bonds	$	47,704	$	226,072	$	—	$	273,776
States, Municipalities and Political Subdivisions		—		547,415		—		547,415
Mortgage-Backed and Asset-Backed Securities:
Agency Mortgage-Backed Securities		—		487,364		—		487,364
Residential Mortgage Obligations		—		20,530		—		20,530
Asset-Backed Securities		—		314,601		—		314,601
Commercial Mortgage-Backed Securities		—		154,139		—		154,139
Subtotal	$	—	$	976,634	$	—	$	976,634
Corporate Exposures		—		838,057		—		838,057
Total Fixed Maturities	$	47,704	$	2,588,178	$	—	$	2,635,882
Equity Securities:
Common Stocks		164,087		—		—		164,087
Preferred Stocks		—		185,055		—		185,055
Total Equity Securities	$	164,087	$	185,055	$	—	$	349,142
Short-Term Investments		143,539		—		—		143,539
Total Assets Measured at Fair Value	$	355,330	$	2,773,233	$	—	$	3,128,563
Senior Notes	$	—	$	280,316	$	—	$	280,316
Total Liabilities Measured at Fair Value	$	—	$	280,316	$	—	$	280,316