FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2019

FAIR VALUE MEASUREMENTS

Schedule of assets measured at fair value on recurring basis

	As of March 31, 2019
	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	$	—	$	194,728	$	—	$	194,728
U.S. agency		—		32,738		—		32,738
Non-U.S. govt. & agency		—		7,943		—		7,943
Agency MBS		—		393,966		—		393,966
ABS/CMBS*		—		146,806		—		146,806
Corporate		—		693,516		—		693,516
Municipal		—		323,646		—		323,646
Total fixed income securities - available-for-sale	$	—	$	1,793,343	$	—	$	1,793,343
Equity securities		387,778		503		—		388,281
Total	$	387,778	$	1,793,846	$	—	$	2,181,624

	As of December 31, 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	$	—	$	200,229	$	—	$	200,229
U.S. agency		—		31,904		—		31,904
Non-U.S. govt. & agency		—		7,639		—		7,639
Agency MBS		—		395,253		—		395,253
ABS/CMBS*		—		136,723		—		136,723
Corporate		—		668,679		—		668,679
Municipal		—		320,088		—		320,088
Total fixed income securities - available-for-sale	$	—	$	1,760,515	$	—	$	1,760,515
Equity securities		339,985		498		—		340,483
Total	$	339,985	$	1,761,013	$	—	$	2,100,998

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