FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2017

FAIR VALUE MEASUREMENTS

Schedule of assets measured at fair value on recurring basis

	As of September 30,  2017
	Fair Value Measurements Using
	Quoted Prices in		Significant Other		Significant
	Active Markets for		Observable		Unobservable
	Identical Assets		Inputs		Inputs
(in thousands)	(Level 1)		(Level 2)		(Level 3)		Total
Available-for-sale securities
U.S. government	$	—	$	88,445	$	—	$	88,445
U.S. agency		—		13,746		—		13,746
Non-U.S. govt. & agency		—		9,636		—		9,636
Agency MBS		—		331,558		—		331,558
ABS/CMBS*		—		74,989		—		74,989
Corporate		—		545,355		—		545,355
Municipal		—		649,829		—		649,829
Equity		393,213		—		—		393,213
Total available-for-sale securities	$	393,213	$	1,713,558	$	—	$	2,106,771

	As of December 31,  2016
	Fair Value Measurements Using
	Quoted Prices in		Significant Other		Significant
	Active Markets for		Observable		Unobservable
	Identical Assets		Inputs		Inputs
(in thousands)	(Level 1)		(Level 2)		(Level 3)		Total
Available-for-sale securities
U.S. government	$	—	$	76,563	$	—	$	76,563
U.S. agency		—		5,813		—		5,813
Non-U.S. govt. & agency		—		9,151		—		9,151
Agency MBS		—		284,069		—		284,069
ABS/CMBS*		—		93,910		—		93,910
Corporate		—		508,367		—		508,367
Municipal		—		627,336		—		627,336
Equity		369,219		—		—		369,219
Total available-for-sale securities	$	369,219	$	1,605,209	$	—	$	1,974,428

* Non-agency asset-backed and commercial mortgage-backed