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Derivative Instruments (Tables) | 6 Months Ended
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Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair value and notional amount of derivatives | The following table summarizes information on the fair values and notional values of the Company’s derivative instruments:
| Estimated Fair Value |  |
| Asset Derivatives |  | Liability Derivatives |  | Notional Value (1)
June 30, 2020 |  |  |  |  |
Futures contracts (2) | $ | 17,181 |  |  | $ | (5,894 | ) |  | $ | 2,635,862 |
Foreign currency forward contracts (2) | 12,366 |  |  | (9,400 | ) |  | 1,073,432 |
TBAs (3) | 5,973 |  |  | — |  |  | 5,740 |
Other (2) | 67,362 |  |  | (51,527 | ) |  | 3,398,053 |
Total | $ | 102,882 |  |  | $ | (66,821 | ) |  |
December 31, 2019 |  |  |  |  |
Futures contracts (2) | $ | 10,065 |  |  | $ | (13,722 | ) |  | $ | 4,104,559 |
Foreign currency forward contracts (2) | 5,352 |  |  | (5,327 | ) |  | 686,878 |
TBAs (3) | 55,010 |  |  | — |  |  | 53,229 |
Other (2) | 33,529 |  |  | (20,701 | ) |  | 4,356,300 |
Total | $ | 103,956 |  |  | $ | (39,750 | ) |  |
(1) | Represents the absolute notional value of all outstanding contracts, consisting of long and short positions.
(2) | The fair value of asset derivatives are included in ‘other assets’ and the fair value of liability derivatives are included in ‘other liabilities.’
(3) The fair value of TBAs are included in ‘fixed maturities available for sale, at fair value.’
Summary of net realized gains (losses) recorded in the consolidated statements of income | Realized and unrealized contract gains and losses on the Company’s derivative instruments are reflected in ‘net realized gains (losses)’ in the consolidated statements of income, as summarized in the following table:
Derivatives not designated as |  | June 30,
hedging instruments: |  | 2020 |  | 2019
Three Months Ended |  |  |  |
Net realized gains (losses): |  |  |  |
Futures contracts |  | $ | (1,607 | ) |  | $ | 66,973 |
Foreign currency forward contracts |  | 3,523 |  |  | (5,365 | )
TBAs |  | 264 |  |  | 48 |
Other |  | (3,016 | ) |  | 2,310 |
Total |  | $ | (836 | ) |  | $ | 63,966 |
Six Months Ended |  |  |  |
Net realized gains (losses): |  |  |  |
Futures contracts |  | $ | 94,337 |  |  | $ | 94,309 |
Foreign currency forward contracts |  | (7,347 | ) |  | (19,074 | )
TBAs |  | 1,009 |  |  | 238 |
Other |  | 38,354 |  |  | 24,364 |
Total |  | $ | 126,353 |  |  | $ | 99,837 |

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