Other Assets

The following table shows the components of other assets as of the dates indicated:



(In thousands)	September 30, 2017		December 31, 2016
Deposit with the IRS (Note 9)	$	88,557	$	88,557
Property and equipment (1) (2)	88,119		70,665
Corporate-owned life insurance	85,699		83,248
Loaned securities	60,876		—
Accrued investment income	31,390		29,255
Deferred policy acquisition costs	15,816		14,127
Reinsurance recoverables	7,605		7,368
Other	60,954		50,615
Total other assets	$	439,016	$	343,835

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(1)

Property and equipment at cost, less accumulated depreciation of $101.7 million and $118.5 million at September 30, 2017 and December 31, 2016, respectively. Depreciation expense was $4.6 million and $2.9 million for the three-month periods ended September 30, 2017 and 2016, respectively, and $12.8 million and $7.6 million for the nine-month periods ended September 30, 2017 and 2016, respectively.


(2)	Includes $45.0 million and $49.7 million at September 30, 2017 and December 31, 2016, respectively, related to our technology upgrade project and $15.7 million at September 30, 2017 of leasehold improvements related to our new corporate headquarters.