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Net Investment Income
 6 Months Ended
Jun. 30, 2018
Net Investment Income [Abstract]  
Net Investment Income
Net Investment Income
Net investment income consists of the following: 
 
For the Three Months
Ended June 30,
 
For the Six Months
Ended June 30,
 
 
(In thousands)
2018
 
2017
 
2018
 
2017
Investment income earned on:
 
 
 
 
 
 
 
Fixed maturity securities, including cash and cash equivalents and loans receivable
$
129,665

 
$
116,796

 
$
252,911

 
$
229,142

Investment funds
12,716

 
8,895

 
53,070

 
35,544

Arbitrage trading account
8,333

 
5,457

 
13,524

 
11,817

Real estate
3,174

 
5,286

 
9,742

 
9,852

Equity securities
559

 
602

 
1,205

 
1,241

Gross investment income
154,447

 
137,036

 
330,452

 
287,596

Investment expense
(670
)
 
(1,772
)
 
(2,157
)
 
(3,473
)
Net investment income
$
153,777

 
$
135,264

 
$
328,295

 
$
284,123