Investment income and net realized and unrealized gains (Tables)

12 Months Ended

Dec. 31, 2023

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:

	2023	2022	2021
	(in $ thousands)
Investment income:
Debt securities	16,274	14,483	13,313
Equity securities, short-term investments, cash equivalents and other	28,861	7,938	3,542
	45,135	22,421	16,855
Net realized and unrealized (losses) gains:
Realized gains	3,407	6,212	13,015
Realized losses	(5,510)	(5,142)	(6,414)
Net unrealized investment gains (losses) recognized on equity securities still held	2,069	(2,546)	17,720
	(34)	(1,476)	24,321

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:

	2023	2022
	(in $ thousands)
Investments in:
Debt securities	610,236	611,934
Equity securities	69,700	98,149
	679,936	710,083

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

	2023	2022	2021
	(in $ thousands)
Total net investment gains (losses) recognized on equity securities during the period	3,044	(2,151)	19,351
Less: Net realized gains on equity securities sold during the period	975	395	1,631
Net unrealized investment gains (losses) recognized on equity securities still held at December 31	2,069	(2,546)	17,720

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:

	2023		2022
	Amortized costs	Fair values	Amortized costs	Fair values
	(in $ thousands)
Municipal	22,201	22,031	30,104	29,835
Corporate	242,656	231,474	272,362	254,316
Foreign	332,723	323,391	315,184	299,137
U.S. Treasury Bonds	33,714	33,340	29,078	28,646
	631,294	610,236	646,728	611,934

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

	2023	2022	2021
	(in $ thousands)
Proceeds from sales of debt securities	21,909	65,827	68,450
Proceeds from sales of equity securities	38,548	868	843
Total proceeds from sales of investments in securities	60,457	66,695	69,293