XML 61 R49.htm IDEA: XBRL DOCUMENT v3.25.3
Fair Value Measurements (Details) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value $ 5,868,594   $ 5,851,689
Equity securities 15,286   14,762
Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 5,868,594   5,851,689
Equity securities 15,286   14,762
Cash equivalents 268,034   230,156
Total assets 6,151,914   6,096,607
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 304,417   220,369
Equity securities 15,286   14,762
Cash equivalents 267,736   219,943
Total assets 587,439   455,074
Significant Other Observable Inputs (Level 2) | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 5,564,177   5,631,320
Equity securities 0   0
Cash equivalents 298   10,213
Total assets 5,564,475   5,641,533
Significant Unobservable Inputs (Level 3)      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Embedded derivative related to Home Re transactions (100)   (400)
Significant Unobservable Inputs (Level 3) | Real Estate Acquired      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Purchases of real estate assets acquired 3,800 $ 3,700  
Sales of real estate assets acquired 2,500 $ 600  
U.S. Treasury securities and obligations of U.S. government corporations and agencies      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 337,499   260,493
U.S. Treasury securities and obligations of U.S. government corporations and agencies | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 337,499   260,493
U.S. Treasury securities and obligations of U.S. government corporations and agencies | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 304,417   220,369
U.S. Treasury securities and obligations of U.S. government corporations and agencies | Significant Other Observable Inputs (Level 2) | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 33,082   40,124
Obligations of U.S. states and political subdivisions      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 1,872,429   1,875,495
Obligations of U.S. states and political subdivisions | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 1,872,429   1,875,495
Obligations of U.S. states and political subdivisions | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 0   0
Obligations of U.S. states and political subdivisions | Significant Other Observable Inputs (Level 2) | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 1,872,429   1,875,495
Corporate debt securities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 2,703,542   2,757,381
Corporate debt securities | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 2,703,542   2,757,381
Corporate debt securities | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 0   0
Corporate debt securities | Significant Other Observable Inputs (Level 2) | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 2,703,542   2,757,381
ABS      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 208,666   156,517
ABS | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 208,666   156,517
ABS | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 0   0
ABS | Significant Other Observable Inputs (Level 2) | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 208,666   156,517
RMBS      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 361,846   350,060
RMBS | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 361,846   350,060
RMBS | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 0   0
RMBS | Significant Other Observable Inputs (Level 2) | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 361,846   350,060
CMBS      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 224,622   235,871
CMBS | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 224,622   235,871
CMBS | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 0   0
CMBS | Significant Other Observable Inputs (Level 2) | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 224,622   235,871
CLOs      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 117,986   200,059
CLOs | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 117,986   200,059
CLOs | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 0   0
CLOs | Significant Other Observable Inputs (Level 2) | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 117,986   200,059
Foreign government debt      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 4,090   3,798
Foreign government debt | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 4,090   3,798
Foreign government debt | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 0   0
Foreign government debt | Significant Other Observable Inputs (Level 2) | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 4,090   3,798
Commercial paper      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 37,914   12,015
Commercial paper | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 37,914   12,015
Commercial paper | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value 0   0
Commercial paper | Significant Other Observable Inputs (Level 2) | Fair Value, Recurring      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value $ 37,914   $ 12,015