Fixed Maturity Securities In An Unrealized Loss Position (Tables)

9 Months Ended

Sep. 30, 2024

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 September 30, 2024 and December 31, 2023 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
September 30, 2024
U.S. government and government agency	$	142,850	$	3,128	$	586,823	$	32,946	$	729,673	$	36,074
State and municipal	119,658		2,875		1,636,735		67,333		1,756,393		70,208
Mortgage-backed	237,206		925		1,162,601		132,922		1,399,807		133,847
Asset-backed	471,907		1,236		787,420		35,541		1,259,327		36,777
Corporate	308,606		4,573		3,325,568		126,794		3,634,174		131,367
Foreign government	141,247		17,405		617,409		162,231		758,656		179,636
Fixed maturity securities	$	1,421,474	$	30,142	$	8,116,556	$	557,767	$	9,538,030	$	587,909
December 31, 2023
U.S. government and government agency	$	384,392	$	6,655	$	614,623	$	51,014	$	999,015	$	57,669
State and municipal	264,273		3,013		1,680,034		119,449		1,944,307		122,462
Mortgage-backed	278,819		2,025		1,360,748		175,131		1,639,567		177,156
Asset-backed	413,511		2,070		2,176,035		71,136		2,589,546		73,206
Corporate	874,754		11,975		4,418,309		231,288		5,293,063		243,263
Foreign government	204,908		1,758		794,174		135,661		999,082		137,419
Fixed maturity securities	$	2,420,657	$	27,496	$	11,043,923	$	783,679	$	13,464,580	$	811,175

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 September 30, 2024 is presented in the table below:

($ in thousands)	Number of Securities	Aggregate Fair Value		Gross Unrealized Loss
Foreign government	62	$	146,049	$	163,081
State and municipal	5	28,143		1,894
Corporate	9	20,185		568
Mortgage-backed	15	2,930		143
Total	91	$	197,307	$	165,686