Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Carrying Amounts And Estimated Fair Values Of Financial Instruments

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments:

	March 31, 2025				December 31, 2024
(In thousands)	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Fixed maturity securities	$	23,620,804	$	23,622,102	$	22,397,865	$	22,399,426
Equity securities	1,145,040		1,145,040		1,203,788		1,203,788
Arbitrage trading account	831,705		831,705		1,122,599		1,122,599
Loans receivable	419,880		420,655		405,453		405,248
Cash and cash equivalents	1,720,209		1,720,209		1,974,747		1,974,747
Trading account receivables from brokers and clearing organizations	343,796		343,796		60,327		60,327
Liabilities:
Due to broker	85,188		85,188		70,483		70,483
Trading account securities sold but not yet purchased	52,407		52,407		73,358		73,358
Senior notes and other debt	1,832,822		1,435,637		1,831,158		1,425,852
Subordinated debentures	1,009,988		772,422		1,009,808		805,864