4. Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2015

Notes to Financial Statements

Schedule of Fair Value Measurements

The Company’s investments are allocated among pricing input levels at June 30, 2015 and December 31, 2014 as follows:

	June 30, 2015
($ in thousands)	Level 1	Level 2	Level 3	Total
Fixed-maturity securities available-for-sale
Political subdivisions of
States, Territories and
Possessions	$                  -	$ 13,778,604	$                  -	$ 13,778,604
Corporate and other
bonds industrial and
miscellaneous	31,334,151	7,558,746	-	38,892,897
Residential mortgage backed securities	-	4,180,593	-	4,180,593
Total fixed maturities	31,334,151	25,517,943	-	56,852,094
Equity securities	9,275,452	-	-	9,275,452
Total investments	$ 40,609,603	$ 25,517,943	$                  -	$ 66,127,546

	December 31, 2014
($ in thousands)	Level 1	Level 2	Level 3	Total
Fixed-maturity investments available-for-sale
Political subdivisions of
States, Territories and
Possessions	$                  -	$ 14,244,439	$                  -	$ 14,244,439
Corporate and other
bonds industrial and
miscellaneous	29,257,850	7,618,570	-	36,876,420
Total fixed maturities	29,257,850	21,863,009	-	51,120,859
Equity investments	8,017,729	-	-	8,017,729
Total investments	$ 37,275,579	$ 21,863,009	$                  -	$ 59,138,588