The following tables present, for each of the fair value hierarchy levels as defined by the accounting guidance for fair value measurements described above, our Company’s Fixed maturities and Equity securities by asset class that are measured at fair value on a recurring basis, as well as the fair value of the 5.75% Senior notes due October 15, 2023 (the “Senior notes”) carried at amortized cost as of March 31, 2017 and December 31, 2016:

	March 31, 2017
amounts in thousands	Level 1		Level 2		Level 3		Total
Fixed maturities:
U.S. Treasury bonds, agency bonds and foreign government bonds	$	47,903	$	222,106	$	—	$	270,009
States, municipalities and political subdivisions		—		604,912		—		604,912
Mortgage-backed and asset-backed securities:
Agency mortgage-backed securities		—		468,255		—		468,255
Residential mortgage obligations		—		16,970		—		16,970
Asset-backed securities		—		331,567		—		331,567
Commercial mortgage-backed securities		—		147,353		—		147,353
Subtotal	$	—	$	964,145	$	—	$	964,145
Corporate exposures		—		856,211		—		856,211
Total fixed maturities	$	47,903	$	2,647,374	$	—	$	2,695,277
Equity securities:
Common stocks	$	169,905	$	—	$	—	$	169,905
Preferred stocks		—		192,309		—		192,309
Total Equity securities	$	169,905	$	192,309	$	—	$	362,214
Short-term investments		123,846		—		—		123,846
Total assets measured at fair value	$	341,654	$	2,839,683	$	—	$	3,181,337
Senior notes	$	—	$	284,135	$	—	$	284,135
Total liabilities measured at fair value	$	—	$	284,135	$	—	$	284,135

	December 31, 2016
amounts in thousands	Level 1		Level 2		Level 3		Total
Fixed maturities:
U.S. Treasury bonds, agency bonds and foreign government bonds	$	47,704	$	226,072	$	—	$	273,776
States, municipalities and political subdivisions		—		547,415		—		547,415
Mortgage-backed and asset-backed securities:
Agency mortgage-backed securities		—		487,364		—		487,364
Residential mortgage obligations		—		20,530		—		20,530
Asset-backed securities		—		314,601		—		314,601
Commercial mortgage-backed securities		—		154,139		—		154,139
Subtotal	$	—	$	976,634	$	—	$	976,634
Corporate exposures		—		838,057		—		838,057
Total fixed maturities	$	47,704	$	2,588,178	$	—	$	2,635,882
Equity securities:
Common stocks	$	164,087	$	—	$	—	$	164,087
Preferred stocks		—		185,055		—		185,055
Total Equity securities	$	164,087	$	185,055		—	$	349,142
Short-term investments		143,539		—		—		143,539
Total assets measured at fair value	$	355,330	$	2,773,233	$	—	$	3,128,563
Senior notes	$	—	$	280,316	$	—	$	280,316
Total liabilities measured at fair value	$	—	$	280,316	$	—	$	280,316