Investments in debt and equity securities (Tables)

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Amortized costs and fair values

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

	June 30, 2022		December 31, 2021
	Amortized costs	Fair values	Amortized costs	Fair values
	($000 omitted)
Municipal	32,555	32,525	34,739	36,323
Corporate	268,626	255,437	249,757	258,102
Foreign	311,894	295,134	287,240	288,883
U.S. Treasury Bonds	10,539	10,487	6,429	6,464
	623,614	593,583	578,165	589,772

Proceeds from sales of investments in securities are as follows: 

	Three Months Ended   June 30,		Six Months Ended   June 30,
	2022	2021	2022	2021
	($000 omitted)
Proceeds from sales of debt securities	11,002	11,634	28,282	14,571
Proceeds from sales of equity securities	117	59	487	173
Total proceeds from sales of investments in securities	11,119	11,693	28,769	14,744

Gross unrealized gains and losses

Gross unrealized gains and losses on investments in debt securities are as follows:

	June 30, 2022		December 31, 2021
	Gains	Losses	Gains	Losses
	($000 omitted)
Municipal	114	144	1,585	1
Corporate	435	13,624	9,389	1,044
Foreign	319	17,079	3,285	1,642
U.S. Treasury Bonds	33	85	60	25
	901	30,932	14,319	2,712

Debt securities according to contractual terms

Debt securities as of June 30, 2022 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	98,843	98,429
After one year through five years	333,202	318,895
After five years through ten years	158,609	145,799
After ten years	32,960	30,460
	623,614	593,583

Gross unrealized losses on investments and fair values of related securities

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, 2022, were:

	Less than 12 months		More than 12 months		Total
	Losses	Fair values	Losses	Fair values	Losses	Fair values
	($000 omitted)
Municipal	144	11,631	—	—	144	11,631
Corporate	12,033	218,982	1,591	11,268	13,624	230,250
Foreign	14,322	249,533	2,757	37,154	17,079	286,687
U.S. Treasury Bonds	61	1,410	24	611	85	2,021
	26,560	481,556	4,372	49,033	30,932	530,589

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 December 31, 2021, were:

	Less than 12 months		More than 12 months		Total
	Losses	Fair values	Losses	Fair values	Losses	Fair values
	($000 omitted)
Municipal	1	130	—	—	1	130
Corporate	588	42,231	456	12,014	1,044	54,245
Foreign	1,502	118,943	140	3,394	1,642	122,337
U.S. Treasury Bonds	8	477	17	508	25	985
	2,099	161,781	613	15,916	2,712	177,697