Investments in debt and equity securities. The total fair values of the Company's investments in debt and equity securities are as follows:


	June 30, 2021	December 31, 2020
	($000 omitted)
Investments in:
Debt securities	635,162	631,386
Equity securities	76,236	53,001
	711,398	684,387

As of June 30, 2021 and December 31, 2020, the net unrealized investment gains relating to investments in equity securities held were $13.6 million and $4.4 million, respectively (refer to Note 5).


	June 30, 2021		December 31, 2020
	Amortized costs	Fair values	Amortized costs	Fair values
	($000 omitted)
Municipal	40,466	42,462	45,138	47,603
Corporate	291,413	305,229	285,962	305,450
Foreign	275,764	280,861	261,748	271,711
U.S. Treasury Bonds	6,570	6,610	6,564	6,622

	614,213	635,162	599,412	631,386

Foreign debt securities consist of Canadian government, provincial and corporate bonds, United Kingdom treasury and corporate bonds, and Mexican government bonds.


	June 30, 2021		December 31, 2020
	Gains	Losses	Gains	Losses
	($000 omitted)
Municipal	1,997	1	2,465	—
Corporate	14,320	504	19,594	106
Foreign	5,767	670	10,024	61
U.S. Treasury Bonds	65	25	82	24

	22,149	1,200	32,165	191

Debt securities as of June 30, 2021 mature, according to their contractual terms, as follows (actual maturities may differ due to call or prepayment rights):


	Amortized costs	Fair values
	($000 omitted)
In one year or less	59,019	59,695
After one year through five years	375,721	385,551
After five years through ten years	148,716	156,299
After ten years	30,757	33,617
	614,213	635,162

Gross unrealized losses on investments in debt securities and the fair values of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2021, were:


	Less than 12 months		More than 12 months		Total
	Losses	Fair values	Losses	Fair values	Losses	Fair values
	($000 omitted)
Municipal	1	96	—	—	1	96
Corporate	504	31,489	—	—	504	31,489
Foreign	645	74,153	25	254	670	74,407
U.S. Treasury Bonds	1	109	24	1,022	25	1,131

	1,151	105,847	49	1,276	1,200	107,123

The number of specific debt investment holdings held in an unrealized loss position as of June 30, 2021 was 51. Of these securities, 3 were in unrealized loss positions for more than 12 months. Since the Company does not intend to sell and will more likely than not maintain each investment security until its maturity or anticipated recovery in value, and no significant credit risk is deemed to exist, these investments are not considered as credit-impaired. The Company believes its investment portfolio is diversified and expects no material loss to result from the failure to perform by issuers of the debt securities it holds. Investments made by the Company are not collateralized.


	Less than 12 months		More than 12 months		Total
	Losses	Fair values	Losses	Fair values	Losses	Fair values
	($000 omitted)
Municipal	—	—	—	—	—	—
Corporate	106	13,518	—	—	106	13,518
Foreign	40	2,912	21	254	61	3,166
U.S. Treasury Bonds	—	—	24	1,022	24	1,022

	146	16,430	45	1,276	191	17,706


	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020
	($000 omitted)
Realized gains	7,909	1,355	8,080	1,508
Realized losses	—	(657)	(2,469)	(1,347)
Net unrealized investment gains (losses) recognized on equity securities still held at end of period	3,745	4,366	9,318	(6,188)
	11,654	5,064	14,929	(6,027)

Realized gains and losses during the second quarter 2021 included $7.3 million of gains on sales of buildings, while realized gains and losses during the second quarter 2020 included $1.1 million of gains from settlements of equity investments with no previously readily determinable fair values. Additionally, realized gains and losses for the first six months of 2021 included a $2.5 million loss related to a disposal of an equity method investment.


	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020
	($000 omitted)
Net investment gains (losses) recognized on equity securities during the period	3,780	3,966	9,361	(7,095)
Less: Net realized gains (losses) on equity securities sold during the period	35	(400)	43	(907)
Net unrealized investment gains (losses) recognized on equity securities still held at end of period	3,745	4,366	9,318	(6,188)


	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020
	($000 omitted)
Proceeds from sales of debt securities	11,634	3,270	14,571	14,773
Proceeds from sales of equity securities	59	433	173	726
Total proceeds from sales of investments in securities	11,693	3,703	14,744	15,499