Fixed Maturity Securities In An Unrealized Loss Position (Tables)

3 Months Ended

Mar. 31, 2025

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, 2025 and December 31, 2024 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, 2025
U.S. government and government agency	$	730,275	$	5,910	$	576,231	$	22,185	$	1,306,506	$	28,095
State and municipal	238,597		3,961		1,371,842		61,160		1,610,439		65,121
Mortgage-backed	925,345		10,699		987,497		149,560		1,912,842		160,259
Asset-backed	1,110,183		4,871		590,123		29,118		1,700,306		33,989
Corporate	836,171		8,431		2,646,520		107,914		3,482,691		116,345
Foreign government	375,595		14,306		429,851		179,927		805,446		194,233
Fixed maturity securities	$	4,216,166	$	48,178	$	6,602,064	$	549,864	$	10,818,230	$	598,042
December 31, 2024
U.S. government and government agency	$	767,515	$	9,637	$	560,260	$	33,226	$	1,327,775	$	42,863
State and municipal	348,116		8,027		1,411,761		81,430		1,759,877		89,457
Mortgage-backed	1,541,464		21,326		1,060,823		171,734		2,602,287		193,060
Asset-backed	411,763		4,613		626,237		36,899		1,038,000		41,512
Corporate	1,791,970		21,346		2,951,377		135,117		4,743,347		156,463
Foreign government	600,103		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

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, 2025 is presented in the table below:

($ in thousands)	Number of Securities	Aggregate Fair Value		Gross Unrealized Loss
Foreign government	75	$	182,410	$	173,141
Corporate	28	63,624		2,771
State and municipal	6	28,784		1,280
Mortgage-backed	17	4,303		176
Asset-backed	1	8		2
Total	127	$	279,129	$	177,370