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Fixed Maturity Securities in an Unrealized Loss Position (Tables)
12 Months Ended
Dec. 31, 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 December 31, 2024 and 2023 by the length of time those securities have been continuously in an unrealized loss position.
 Less Than 12 Months12 Months or GreaterTotal
(In thousands)Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
December 31, 2024      
U.S. government and government agency$767,515 $9,637 $560,260 $33,226 $1,327,775 $42,863 
State and municipal348,116 8,027 1,411,761 81,430 1,759,877 89,457 
Mortgage-backed securities1,541,464 21,326 1,060,823 171,734 2,602,287 193,060 
Asset-backed securities411,763 4,613 626,237 36,899 1,038,000 41,512 
Corporate1,791,970 21,346 2,951,377 135,117 4,743,347 156,463 
Foreign government600,103 17,933 476,479 167,440 1,076,582 185,373 
Fixed maturity securities$5,460,931 $82,882 $7,086,937 $625,846 $12,547,868 $708,728 
December 31, 2023     
U.S. government and government agency$384,392 $6,655 $614,623 $51,014 $999,015 $57,669 
State and municipal264,273 3,013 1,680,034 119,449 1,944,307 122,462 
Mortgage-backed securities278,819 2,025 1,360,748 175,131 1,639,567 177,156 
Asset-backed securities413,511 2,070 2,176,035 71,136 2,589,546 73,206 
Corporate874,754 11,975 4,418,309 231,288 5,293,063 243,263 
Foreign government204,908 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 $811,175 
Non-Investment Grade Fixed Maturity Securities A summary of the Company’s non-investment grade fixed maturity securities that were in an unrealized loss position at December 31, 2024 is presented in the table below:
($ in thousands)Number of
Securities
Aggregate
Fair Value
Gross
Unrealized
Loss
Foreign government50 $138,388 $157,424 
Corporate19 50,525 2,922 
State and municipal28,150 1,921 
Mortgage-backed securities17 3,684 206 
Asset-backed securities
Total93 $220,756 $162,474