Investments in debt and equity securities (Tables)

9 Months Ended

Sep. 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:

	September 30, 2022		December 31, 2021
	Amortized costs	Fair values	Amortized costs	Fair values
	($000 omitted)
Municipal	30,759	30,119	34,739	36,323
Corporate	279,392	257,575	249,757	258,102
Foreign	297,490	278,511	287,240	288,883
U.S. Treasury Bonds	16,631	16,256	6,429	6,464
	624,272	582,461	578,165	589,772

Proceeds from sales of investments in securities are as follows: 

	Three Months Ended   September 30,		Nine Months Ended   September 30,
	2022	2021	2022	2021
	($000 omitted)
Proceeds from sales of debt securities	19,123	4,854	47,405	19,425
Proceeds from sales of equity securities	62	128	549	301
Total proceeds from sales of investments in securities	19,185	4,982	47,954	19,726

Gross unrealized gains and losses

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

	September 30, 2022		December 31, 2021
	Gains	Losses	Gains	Losses
	($000 omitted)
Municipal	2	642	1,585	1
Corporate	226	22,043	9,389	1,044
Foreign	92	19,071	3,285	1,642
U.S. Treasury Bonds	7	382	60	25
	327	42,138	14,319	2,712

Debt securities according to contractual terms

Debt securities as of September 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	88,203	87,384
After one year through five years	355,367	333,584
After five years through ten years	155,555	140,592
After ten years	25,147	20,901
	624,272	582,461

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 September 30, 2022, were:

	Less than 12 months		More than 12 months		Total
	Losses	Fair values	Losses	Fair values	Losses	Fair values
	($000 omitted)
Municipal	633	28,835	9	33	642	28,868
Corporate	17,822	224,128	4,221	29,888	22,043	254,016
Foreign	13,264	210,499	5,807	65,721	19,071	276,220
U.S. Treasury Bonds	323	13,116	59	951	382	14,067
	32,042	476,578	10,096	96,593	42,138	573,171

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