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Fair Value of Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2024
Fair Value Disclosures [Abstract] |
Carrying Amounts and Estimated Fair Values of Financial Insruments | The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments as of December 31, 2024 and 2023:
| 2024 |  | 2023
(In thousands) | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Assets: |  |  |  |  |  |  |
Fixed maturity securities | $ | 22,397,865 |  |  | $ | 22,399,426 |  |  | $ | 20,178,308 |  |  | $ | 20,181,547 |
Equity securities | 1,203,788 |  |  | 1,203,788 |  |  | 1,090,347 |  |  | 1,090,347 |
Arbitrage trading account | 1,122,599 |  |  | 1,122,599 |  |  | 938,049 |  |  | 938,049 |
Loans receivable | 405,453 |  |  | 405,248 |  |  | 201,271 |  |  | 198,244 |
Cash and cash equivalents | 1,974,747 |  |  | 1,974,747 |  |  | 1,363,195 |  |  | 1,363,195 |
Trading accounts receivable from brokers and clearing organizations | 60,327 |  |  | 60,327 |  |  | 303,614 |  |  | 303,614 |
Due from broker | — |  |  | — |  |  | 36,747 |  |  | 36,747 |
Liabilities: |  |  |  |  |  |  |
Due to broker | 70,483 |  |  | 70,483 |  |  | — |  |  | — |
Trading account securities sold but not yet purchased | 73,358 |  |  | 73,358 |  |  | 9,357 |  |  | 9,357 |
Senior notes and other debt | 1,831,158 |  |  | 1,425,852 |  |  | 1,827,951 |  |  | 1,480,076 |
Subordinated debentures | 1,009,808 |  |  | 805,864 |  |  | 1,009,090 |  |  | 929,598 |

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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