Investment and other gains (losses) (Tables)

12 Months Ended

Dec. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Gross realized investment and other gains and losses

Income from investments and gross realized investment and other gains and losses for the years ended December 31 are detailed below:

	2018		2017		2016
	($000 omitted)
Investment income:
Debt securities	17,431		17,222		16,476
Short-term investments, cash equivalents and other	2,306		1,710		2,449
	19,737		18,932		18,925
Investment and other gains (losses) – net:
Realized gains	2,698		4,997		9,882
Realized losses	(483	)	(2,790	)	(10,548	)
Net unrealized investment losses recognized on equity securities still held	(2,162	)	—		—
	53		2,207		(666	)

Net gains on investments in equity securities still held

The total fair values of the Company's investments in debt and equity securities as of December 31 are detailed below:

	2018	2017
	($000 omitted)
Investments in:
Debt securities	602,020	671,441
Equity securities	33,997	37,914
	636,017	709,355

Following the adoption of ASU 2016-01, as discussed in Note 1-Q, net investment losses recognized in 2018 related to investments in equity securities still held as of December 31, 2018 are calculated as follows ($000 omitted):

Total net investment losses recognized on equity securities during the period	(2,538	)
Less: Net realized losses on equity securities sold during the period	(376	)
Net unrealized investment losses recognized on equity securities still held	(2,162	)

Proceeds from sales of investments in securities for the years ended December 31 are as follows:

	2018	2017	2016
	($000 omitted)
Proceeds from sales of debt securities	43,556	68,649	73,343
Proceeds from sales of equity securities	5,886	8,293	7,748
Total proceeds from sales of investments in securities	49,442	76,942	81,091

Proceeds from sale of investments available-for-sale

The amortized costs and fair values of investments in debt securities as of December 31, are as follows:

	2018		2017
	Amortized costs	Fair values	Amortized costs	Fair values
	($000 omitted)
Municipal	61,779	61,934	71,581	72,669
Corporate	333,289	328,495	351,477	357,933
Foreign	200,667	198,938	229,750	228,237
U.S. Treasury Bonds	12,951	12,653	12,838	12,602
	608,686	602,020	665,646	671,441

Proceeds from sales of investments in securities for the years ended December 31 are as follows:

	2018	2017	2016
	($000 omitted)
Proceeds from sales of debt securities	43,556	68,649	73,343
Proceeds from sales of equity securities	5,886	8,293	7,748
Total proceeds from sales of investments in securities	49,442	76,942	81,091