FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2019

FAIR VALUE MEASUREMENTS

Schedule of assets measured at fair value on recurring basis

	As of September 30, 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	$	—	$	240,913	$	—	$	240,913
U.S. agency		—		32,479		—		32,479
Non-U.S. govt. & agency		—		9,342		—		9,342
Agency MBS		—		431,509		—		431,509
ABS/CMBS*		—		176,555		—		176,555
Corporate		—		708,102		—		708,102
Municipal		—		358,125		—		358,125
Total fixed income securities - available-for-sale	$	—	$	1,957,025	$	—	$	1,957,025
Equity securities		428,297		—		—		428,297
Total	$	428,297	$	1,957,025	$	—	$	2,385,322

	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