Fixed Maturity Securities In An Unrealized Loss Position (Tables)

6 Months Ended

Jun. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Securities in an unrealized loss position

The following tables summarize all fixed maturity securities in an unrealized loss position at June 30, 2020 and December 31, 2019 by the length of time those securities have been continuously in an unrealized loss position:

	Less Than 12 Months				12 Months or Greater				Total
(In thousands)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
June 30, 2020
U.S. government and government agency	$	42,279	$	49	$	20	$	—	$	42,299	$	49
State and municipal	237,515		2,444		24,899		798		262,414		3,242
Mortgage-backed securities	55,367		1,458		57,184		360		112,551		1,818
Asset-backed securities	1,290,764		32,060		653,128		51,212		1,943,892		83,272
Corporate	531,733		34,588		49,806		7,154		581,539		41,742
Foreign government	78,803		5,786		38,726		27,157		117,529		32,943
Fixed maturity securities	$	2,236,461	$	76,385	$	823,763	$	86,681	$	3,060,224	$	163,066
December 31, 2019
U.S. government and government agency	$	83,837	$	618	$	53,089	$	857	$	136,926	$	1,475
State and municipal	365,184		4,245		127,210		1,682		492,394		5,927
Mortgage-backed securities	301,358		2,281		180,148		3,220		481,506		5,501
Asset-backed securities	755,259		2,307		774,508		19,183		1,529,767		21,490
Corporate	307,367		3,148		121,470		5,172		428,837		8,320
Foreign government	164,536		32,028		107,266		61,645		271,802		93,673
Fixed maturity securities	$	1,977,541	$	44,627	$	1,363,691	$	91,759	$	3,341,232	$	136,386

Non-Investment Grade Fixed Maturity Securities

A summary of the Company’s non-investment grade fixed maturity securities that were in an unrealized loss position at June 30, 2020 is presented in the table below:

($ in thousands)	Number of Securities	Aggregate Fair Value		Gross Unrealized Loss
Foreign government	14	$	52,126	$	32,429
Corporate	18	47,404		9,320
Mortgage-backed securities	12	6,348		340
Asset-backed securities	2	279		6
Total	46	$	106,157	$	42,095