Investments in debt and equity securities (Tables)

9 Months Ended

Sep. 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:

	September 30, 2023		December 31, 2022
	Amortized costs	Fair values	Amortized costs	Fair values
	($000 omitted)
Municipal	23,941	23,278	30,104	29,835
Corporate	250,552	231,038	272,362	254,316
Foreign	321,046	299,748	315,184	299,137
U.S. Treasury Bonds	32,614	31,342	29,078	28,646
	628,153	585,406	646,728	611,934

Proceeds from sales of investments in securities are as follows: 

	Three Months Ended   September 30,		Nine Months Ended   September 30,
	2023	2022	2023	2022
	($000 omitted)
Proceeds from sales of debt securities	10,255	19,123	25,134	47,405
Proceeds from sales of equity securities	3,887	62	28,496	549
Total proceeds from sales of investments in securities	14,142	19,185	53,630	47,954

Schedule of Gross Unrealized Gains and Losses

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

	September 30, 2023		December 31, 2022
	Gains	Losses	Gains	Losses
	($000 omitted)
Municipal	1	664	3	272
Corporate	136	19,650	489	18,535
Foreign	152	21,450	165	16,212
U.S. Treasury Bonds	—	1,272	21	453
	289	43,036	678	35,472

Schedule of Debt Securities According to Contractual Terms

Debt securities as of September 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	105,848	103,828
After one year through five years	329,317	306,479
After five years through ten years	180,634	164,702
After ten years	12,354	10,397
	628,153	585,406

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 September 30, 2023, were:

	Less than 12 months		More than 12 months		Total
	Losses	Fair values	Losses	Fair values	Losses	Fair values
	($000 omitted)
Municipal	292	13,477	372	9,800	664	23,277
Corporate	284	18,194	19,366	209,437	19,650	227,631
Foreign	4,594	93,809	16,856	200,359	21,450	294,168
U.S. Treasury Bonds	1,007	26,639	265	4,703	1,272	31,342
	6,177	152,119	36,859	424,299	43,036	576,418

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