Fixed Maturity Securities In An Unrealized Loss Position (Tables)

6 Months Ended

Jun. 30, 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 June 30, 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
June 30, 2025
U.S. government and government agency	$	941,906	$	11,134	$	466,439	$	19,315	$	1,408,345	$	30,449
State and municipal	200,033		3,908		1,262,830		51,312		1,462,863		55,220
Mortgage-backed	859,569		11,556		887,676		146,042		1,747,245		157,598
Asset-backed	610,864		2,675		532,828		24,130		1,143,692		26,805
Corporate	366,889		2,120		2,207,465		83,962		2,574,354		86,082
Foreign government	150,504		2,285		339,854		163,221		490,358		165,506
Fixed maturity securities	$	3,129,765	$	33,678	$	5,697,092	$	487,982	$	8,826,857	$	521,660
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 June 30, 2025 is presented in the table below:

($ in thousands)	Number of Securities	Aggregate Fair Value		Gross Unrealized Loss
Foreign government	50	$	144,584	$	155,344
State and municipal	6	28,621		1,436
Corporate	8	29,131		622
Mortgage-backed	15	2,589		193
Asset-backed	1	9		1
Total	80	$	204,934	$	157,596