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Net Investment Income
 12 Months Ended
Dec. 31, 2024
Net Investment Income [Abstract]  
Net Investment Income Net Investment Income
Net investment income consists of the following:
(In thousands)202420232022
Investment income (loss) earned on:   
Fixed maturity securities, including cash and cash equivalents and loans receivable$1,260,429 $929,098 $549,281 
Arbitrage trading account (1)69,573 69,369 45,213 
Equity securities48,920 55,726 52,600 
Investment funds(11,491)16,743 145,099 
Real estate
(23,616)(11,185)(3,087)
Gross investment income1,343,815 1,059,751 789,106 
Investment expense(10,654)(6,916)(9,921)
Net investment income$1,333,161 $1,052,835 $779,185