Investments in debt and equity securities (Tables)

3 Months Ended

Mar. 31, 2023

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:

	March 31, 2023		December 31, 2022
	Amortized costs	Fair values	Amortized costs	Fair values
	($000 omitted)
Municipal	26,619	26,487	30,104	29,835
Corporate	259,084	244,479	272,362	254,316
Foreign	318,408	306,885	315,184	299,137
U.S. Treasury Bonds	30,505	30,463	29,078	28,646
	634,616	608,314	646,728	611,934

Proceeds from sales of investments in securities are as follows: 

		Three Months Ended   March 31,
		2023	2022
	($000 omitted)
Proceeds from sales of debt securities		7,446	17,280
Proceeds from sales of equity securities		19,326	370
Total proceeds from sales of investments in securities		26,772	17,650

Gross unrealized gains and losses

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

	March 31, 2023		December 31, 2022
	Gains	Losses	Gains	Losses
	($000 omitted)
Municipal	29	161	3	272
Corporate	815	15,420	489	18,535
Foreign	1,034	12,557	165	16,212
U.S. Treasury Bonds	129	171	21	453
	2,007	28,309	678	35,472

Debt securities according to contractual terms

Debt securities as of March 31, 2023 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	63,817	63,214
After one year through five years	380,826	363,161
After five years through ten years	174,554	168,393
After ten years	15,419	13,546
	634,616	608,314

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 March 31, 2023, were:

	Less than 12 months		More than 12 months		Total
	Losses	Fair values	Losses	Fair values	Losses	Fair values
	($000 omitted)
Municipal	89	16,879	72	2,850	161	19,729
Corporate	3,944	111,914	11,476	115,713	15,420	227,627
Foreign	539	33,353	12,018	220,333	12,557	253,686
U.S. Treasury Bonds	96	14,094	75	1,284	171	15,378
	4,668	176,240	23,641	340,180	28,309	516,420

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, 2022, were:

	Less than 12 months		More than 12 months		Total
	Losses	Fair values	Losses	Fair values	Losses	Fair values
	($000 omitted)
Municipal	262	27,491	10	67	272	27,558
Corporate	12,935	193,239	5,600	44,342	18,535	237,581
Foreign	7,608	186,221	8,604	101,294	16,212	287,515
U.S. Treasury Bonds	413	25,102	40	445	453	25,547
	21,218	432,053	14,254	146,148	35,472	578,201