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Fair Value of Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2025
Fair Value Disclosures [Abstract] |
Carrying Amounts And Estimated Fair Values Of Financial Instruments | The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments:
| September 30, 2025 |  | December 31, 2024
(In thousands) | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Assets: |  |  |  |  |  |  |
Fixed maturity securities | $ | 24,947,949 |  |  | $ | 24,949,094 |  |  | $ | 22,397,865 |  |  | $ | 22,399,426 |
Equity securities | 1,382,432 |  |  | 1,382,432 |  |  | 1,203,788 |  |  | 1,203,788 |
Arbitrage trading account | 1,070,304 |  |  | 1,070,304 |  |  | 1,122,599 |  |  | 1,122,599 |
Loans receivable | 326,855 |  |  | 327,102 |  |  | 405,453 |  |  | 405,248 |
Cash and cash equivalents | 2,404,019 |  |  | 2,404,019 |  |  | 1,974,747 |  |  | 1,974,747 |
Trading account receivables from brokers and clearing organizations | 113,330 |  |  | 113,330 |  |  | 60,327 |  |  | 60,327 |
Liabilities: |  |  |  |  |  |  |
Due to broker | 130,723 |  |  | 130,723 |  |  | 70,483 |  |  | 70,483 |
Trading account securities sold but not yet purchased | 34,509 |  |  | 34,509 |  |  | 73,358 |  |  | 73,358 |
Senior notes and other debt | 1,829,511 |  |  | 1,482,612 |  |  | 1,831,158 |  |  | 1,425,852 |
Subordinated debentures | 1,010,347 |  |  | 834,836 |  |  | 1,009,808 |  |  | 805,864 |

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