Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Derivative Instruments

The notional value, fair value and gains and losses recognized in investment gains (losses) as of December 31, 2022 and 2021 for derivative instruments (excluding derivative instruments relating to our options desk trading activities discussed below) not designated as hedging instruments were as follows:

	Notional Value			Derivative Assets			Derivative Liabilities			Gains (Losses)
	(in thousands)
December 31, 2022
Exchange-traded futures		$	154,687		$	1,768		$	162		$	19,994
Currency forwards		34,597			4,446			5,047			1,965
Interest rate swaps		16,847			386			262			70
Credit default swaps		225,671			17,507			7,302			(1,000)
Total return swaps		28,742			605			933			14,828
Option swaps		50,000			—			6			5,211
Total derivatives		$	510,544		$	24,712		$	13,712		$	41,068
December 31, 2021
Exchange-traded futures		$	131,876		$	392		$	1,186		$	(5,072)
Currency forwards		66,058			7,344			6,980			1,746
Interest rate swaps		13,483			497			833			(316)
Credit default swaps		155,757			6,594			6,967			(2,914)
Total return swaps		63,817			595			527			(6,433)
Option swaps		50,000			—			430			(309)
Total derivatives		$	480,991		$	15,422		$	16,923		$	(13,298)