Investments in debt and equity securities (Tables)

6 Months Ended

Jun. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of amortized costs and fair values

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

	June 30, 2023		December 31, 2022
	Amortized costs	Fair values	Amortized costs	Fair values
	($000 omitted)
Municipal	26,273	25,949	30,104	29,835
Corporate	249,888	233,200	272,362	254,316
Foreign	326,937	311,354	315,184	299,137
U.S. Treasury Bonds	32,149	31,424	29,078	28,646
	635,247	601,927	646,728	611,934

Proceeds from sales of investments in securities are as follows: 

	Three Months Ended   June 30,		Six Months Ended   June 30,
	2023	2022	2023	2022
	($000 omitted)
Proceeds from sales of debt securities	7,433	11,002	14,879	28,282
Proceeds from sales of equity securities	5,283	117	24,609	487
Total proceeds from sales of investments in securities	12,716	11,119	39,488	28,769

Schedule of gross unrealized gains and losses

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

	June 30, 2023		December 31, 2022
	Gains	Losses	Gains	Losses
	($000 omitted)
Municipal	1	325	3	272
Corporate	433	17,121	489	18,535
Foreign	293	15,876	165	16,212
U.S. Treasury Bonds	12	737	21	453
	739	34,059	678	35,472

Schedule of debt securities according to contractual terms

Debt securities as of June 30, 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	90,765	88,947
After one year through five years	357,970	337,352
After five years through ten years	171,140	162,291
After ten years	15,372	13,337
	635,247	601,927

Schedule of 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, 2023, were:

	Less than 12 months		More than 12 months		Total
	Losses	Fair values	Losses	Fair values	Losses	Fair values
	($000 omitted)
Municipal	191	20,666	134	4,033	325	24,699
Corporate	1,990	50,979	15,131	165,730	17,121	216,709
Foreign	1,335	84,849	14,541	206,510	15,876	291,359
U.S. Treasury Bonds	656	28,748	81	1,278	737	30,026
	4,172	185,242	29,887	377,551	34,059	562,793

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