Fixed Maturity Securities In An Unrealized Loss Position (Tables)

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Securities in an unrealized loss position

The following tables summarize all fixed maturity securities in an unrealized loss position at June 30, 2024 and December 31, 2023 by the length of time those securities have been continuously in an unrealized loss position:


	Less Than 12 Months				12 Months or Greater				Total
(In thousands)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
June 30, 2024
U.S. government and government agency	$	422,945	$	3,391	$	795,297	$	51,081	$	1,218,242	$	54,472
State and municipal	357,529		4,935		1,758,572		114,831		2,116,101		119,766
Mortgage-backed	530,802		4,258		1,356,573		182,908		1,887,375		187,166
Asset-backed	947,780		4,434		1,079,695		57,188		2,027,475		61,622
Corporate	2,068,015		17,788		4,333,968		222,444		6,401,983		240,232
Foreign government	563,150		15,565		759,174		178,120		1,322,324		193,685
Fixed maturity securities	$	4,890,221	$	50,371	$	10,083,279	$	806,572	$	14,973,500	$	856,943





December 31, 2023
U.S. government and government agency	$	384,392	$	6,655	$	614,623	$	51,014	$	999,015	$	57,669
State and municipal	264,273		3,013		1,680,034		119,449		1,944,307		122,462
Mortgage-backed	278,819		2,025		1,360,748		175,131		1,639,567		177,156
Asset-backed	413,511		2,070		2,176,035		71,136		2,589,546		73,206
Corporate	874,754		11,975		4,418,309		231,288		5,293,063		243,263
Foreign government	204,908		1,758		794,174		135,661		999,082		137,419
Fixed maturity securities	$	2,420,657	$	27,496	$	11,043,923	$	783,679	$	13,464,580	$	811,175

Non-Investment Grade Fixed Maturity Securities

A summary of the Company’s non-investment grade fixed maturity securities that were in an unrealized loss position at June 30, 2024 is presented in the table below:


($ in thousands)	Number of Securities	Aggregate Fair Value		Gross Unrealized Loss
Foreign government	51	$	99,230	$	159,930
State and municipal	5	24,865		4,838
Corporate	30	42,131		2,651
Mortgage-backed	16	4,107		201

Total	102	$	170,333	$	167,620