Investment income and net realized and unrealized gains (Tables)

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Income from investments and net realized and unrealized gains

Investment income and net realized and unrealized gains for the years ended December 31 are detailed below:

	2022	2021	2020
	(in $ thousands)
Investment income:
Debt securities	14,483	13,313	15,026
Equity securities, short-term investments, cash equivalents and other	7,938	3,542	3,581
	22,421	16,855	18,607
Net realized and unrealized gains (losses):
Realized gains	6,212	13,015	2,231
Realized losses	(5,142)	(6,414)	(1,598)
Net unrealized investment gains (losses) recognized on equity securities still held	(2,546)	17,720	(2,311)
	(1,476)	24,321	(1,678)

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:

	2022	2021
	(in $ thousands)
Investments in:
Debt securities	611,934	589,772
Equity securities	98,149	89,442
	710,083	679,214

Net investment gains and losses recognized for the years ended December 31 related to investments in equity securities are follows:

	2022	2021	2020
	(in $ thousands)
Total net investment (losses) gains recognized on equity securities during the period	(2,151)	19,351	(3,137)
Less: Net realized gains (losses) on equity securities sold during the period	395	1,631	(826)
Net unrealized investment (losses) gains recognized on equity securities still held at December 31	(2,546)	17,720	(2,311)

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:

	2022		2021
	Amortized costs	Fair values	Amortized costs	Fair values
	(in $ thousands)
Municipal	30,104	29,835	34,739	36,323
Corporate	272,362	254,316	249,757	258,102
Foreign	315,184	299,137	287,240	288,883
U.S. Treasury Bonds	29,078	28,646	6,429	6,464
	646,728	611,934	578,165	589,772

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

	2022	2021	2020
	(in $ thousands)
Proceeds from sales of debt securities	65,827	68,450	36,449
Proceeds from sales of equity securities	868	843	791
Total proceeds from sales of investments in securities	66,695	69,293	37,240