FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2018

FAIR VALUE MEASUREMENTS

Schedule of assets measured at fair value on recurring basis

	As of September 30, 2018
	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
Fixed income securities - available-for-sale
U.S. government	$	—	$	173,787	$	—	$	173,787
U.S. agency		—		29,903		—		29,903
Non-U.S. govt. & agency		—		7,907		—		7,907
Agency MBS		—		402,026		—		402,026
ABS/CMBS*		—		119,567		—		119,567
Corporate		—		666,692		—		666,692
Municipal		—		319,735		—		319,735
Total fixed income securities - available-for-sale	$	—	$	1,719,617	$	—	$	1,719,617
Equity securities		393,882		493		—		394,375
Total	$	393,882	$	1,720,110	$	—	$	2,113,992

	As of December 31, 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
Fixed income securities - available-for-sale
U.S. government	$	—	$	91,689	$	—	$	91,689
U.S. agency		—		18,778		—		18,778
Non-U.S. govt. & agency		—		7,588		—		7,588
Agency MBS		—		328,471		—		328,471
ABS/CMBS*		—		70,526		—		70,526
Corporate		—		519,022		—		519,022
Municipal		—		636,165		—		636,165
Total fixed income securities - available-for-sale	$	—	$	1,672,239	$	—	$	1,672,239
Equity securities		400,492		—		—		400,492
Total	$	400,492	$	1,672,239	$	—	$	2,072,731

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