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Net Investment Income
 6 Months Ended
Jun. 30, 2017
Net Investment Income [Abstract]  
Net Investment Income
Net Investment Income
Net investment income consists of the following: 
 
For the Three Months
 
For the Six Months
 
Ended June 30,
 
Ended June 30,
(In thousands)
2017
 
2016
 
2017
 
2016
Investment income earned on:
 
 
 
 
 
 
 
Fixed maturity securities, including cash and cash equivalents and loans receivable
$
116,796

 
$
108,342

 
$
229,142

 
$
217,177

Investment funds
8,895

 
18,456

 
35,544

 
35,092

Arbitrage trading account
5,457

 
3,252

 
11,817

 
6,442

Real estate
5,286

 
1,250

 
9,852

 
3,967

Equity securities available for sale
602

 
1,280

 
1,241

 
2,148

Gross investment income
137,036

 
132,580

 
287,596

 
264,826

Investment expense
(1,772
)
 
(3,531
)
 
(3,473
)
 
(5,644
)
Net investment income
$
135,264

 
$
129,049

 
$
284,123

 
$
259,182