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Net Investment Income (Tables) | 6 Months Ended
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Jun. 30, 2025
Net Investment Income [Abstract] |
Schedule of Net Investment Income | Net investment income consisted of the following:
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
(In thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Investment income (loss) earned on: |  |  |  |  |  |  |
Fixed maturity securities, including cash and cash equivalents and loans receivable | $ | 322,518 |  |  | $ | 324,136 |  |  | $ | 636,306 |  |  | $ | 659,384 |
Investment funds | 27,268 |  |  | 25,476 |  |  | 54,291 |  |  | (3,873) |
Arbitrage trading account (1) | 23,672 |  |  | 16,682 |  |  | 40,001 |  |  | 34,693 |
Equity securities | 12,485 |  |  | 12,386 |  |  | 23,126 |  |  | 23,721 |
Real estate | (4,092) |  |  | (3,705) |  |  | (8,109) |  |  | (16,868) |
Gross investment income | 381,851 |  |  | 374,975 |  |  | 745,615 |  |  | 697,057 |
Investment expense | (2,548) |  |  | (2,846) |  |  | (6,020) |  |  | (5,090) |
Net investment income | $ | 379,303 |  |  | $ | 372,129 |  |  | $ | 739,595 |  |  | $ | 691,967 |
(1) Net investment income includes earnings from trading account receivables from brokers and clearing organizations.

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