Investment income and net realized and unrealized gains (Tables)

12 Months Ended

Dec. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Income from investments and net realized and unrealized gains

Income from investments and net realized and unrealized gains for the years ended December 31 are detailed below:

	2019		2018		2017
	($000 omitted)
Investment income:
Debt securities	15,769		17,431		17,222
Short-term investments, cash equivalents and other	4,026		2,306		1,710
	19,795		19,737		18,932
Net realized and unrealized gains:
Realized gains	53,465		2,698		4,997
Realized losses	(14,747	)	(483	)	(2,790	)
Net unrealized investment gains (losses) recognized on equity securities still held	4,042		(2,162	)	—
	42,760		53		2,207

Net gains (losses) 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:

	2019	2018
	($000 omitted)
Investments in:
Debt securities	605,721	602,020
Equity securities	39,318	33,997
	645,039	636,017

Net investment gains and losses recognized in 2019 and 2018 related to investments in equity securities (refer to Note 1-H) are calculated as follows:

	2019	2018
	($000 omitted)
Total net investment gains (losses) recognized on equity securities during the period	4,825	(2,538	)
Less: Net realized gains (losses) on equity securities sold during the period	783	(376	)
Net unrealized investment gains (losses) recognized on equity securities still held	4,042	(2,162	)

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:

	2019		2018
	Amortized costs	Fair values	Amortized costs	Fair values
	($000 omitted)
Municipal	52,176	53,823	61,779	61,934
Corporate	299,074	309,142	333,289	328,495
Foreign	234,734	236,073	200,667	198,938
U.S. Treasury Bonds	6,664	6,683	12,951	12,653
	592,648	605,721	608,686	602,020

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

	2019	2018	2017
	($000 omitted)
Proceeds from sales of debt securities	46,834	43,556	68,649
Proceeds from sales of equity securities	3,771	5,886	8,293
Total proceeds from sales of investments in securities	50,605	49,442	76,942