Fixed Maturity Securities In An Unrealized Loss Position (Tables)

3 Months Ended

Mar. 31, 2023

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 March 31, 2023 and December 31, 2022 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
March 31, 2023
U.S. government and government agency	$	213,369	$	4,312	$	527,765	$	50,353	$	741,134	$	54,665
State and municipal	1,070,807		30,908		1,008,985		96,512		2,079,792		127,420
Mortgage-backed	765,967		17,720		866,618		148,720		1,632,585		166,440
Asset-backed	916,431		13,102		2,490,520		104,751		3,406,951		117,853
Corporate	2,694,062		75,595		3,175,233		264,845		5,869,295		340,440
Foreign government	239,947		26,248		786,359		83,587		1,026,306		109,835
Fixed maturity securities	$	5,900,583	$	167,885	$	8,855,480	$	748,768	$	14,756,063	$	916,653
December 31, 2022
U.S. government and government agency	$	285,391	$	10,219	$	453,520	$	58,939	$	738,911	$	69,158
State and municipal	1,720,443		89,272		598,797		79,320		2,319,240		168,592
Mortgage-backed	1,099,549		75,430		473,318		115,528		1,572,867		190,958
Asset-backed	1,569,647		48,390		2,176,638		103,932		3,746,285		152,322
Corporate	3,690,856		150,115		2,349,281		256,631		6,040,137		406,746
Foreign government	477,672		29,815		711,786		105,243		1,189,458		135,058
Fixed maturity securities	$	8,843,558	$	403,241	$	6,763,340	$	719,593	$	15,606,898	$	1,122,834

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 March 31, 2023 is presented in the table below:

($ in thousands)	Number of Securities	Aggregate Fair Value		Gross Unrealized Loss
Foreign government	33	$	105,347	$	64,516
Corporate	16	45,507		3,789
State and municipal	1	12,066		2,936
Mortgage-backed	14	4,202		199
Asset-backed	1	8		8
Total	65	$	167,130	$	71,448