| Balances Of Assets And Liabilities Measured At Fair Value On A Recurring Basis |
The following tables present the balances of assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy.
| | | | | | | | | | | | | | | | | | June 30, 2015 | (dollars in thousands) | Level 1 | | Level 2 | | Level 3 | | Total | Assets: | | | | | | | | Investments available-for-sale: | | | | | | | | Fixed maturities: | | | | | | | | U.S. Treasury securities and obligations of U.S. government agencies | $ | — |
| | $ | 645,688 |
| | $ | — |
| | $ | 645,688 |
| Obligations of states, municipalities and political subdivisions | — |
| | 4,011,031 |
| | — |
| | 4,011,031 |
| Foreign governments | — |
| | 1,455,632 |
| | — |
| | 1,455,632 |
| Commercial mortgage-backed securities | — |
| | 429,037 |
| | — |
| | 429,037 |
| Residential mortgage-backed securities | — |
| | 907,645 |
| | — |
| | 907,645 |
| Asset-backed securities | — |
| | 65,300 |
| | — |
| | 65,300 |
| Corporate bonds | — |
| | 2,008,831 |
| | — |
| | 2,008,831 |
| Total fixed maturities | — |
| | 9,523,164 |
| | — |
| | 9,523,164 |
| Equity securities: | | | | | | | | Insurance, banks and other financial institutions | 1,351,849 |
| | — |
| | — |
| | 1,351,849 |
| Industrial, consumer and all other | 3,023,312 |
| | — |
| | — |
| | 3,023,312 |
| Total equity securities | 4,375,161 |
| | — |
| | — |
| | 4,375,161 |
| Short-term investments | 2,075,473 |
| | 109,776 |
| | — |
| | 2,185,249 |
| Total investments available-for-sale | $ | 6,450,634 |
| | $ | 9,632,940 |
| | $ | — |
| | $ | 16,083,574 |
|
| | | | | | | | | | | | | | | | | | December 31, 2014 | (dollars in thousands) | Level 1 | | Level 2 | | Level 3 | | Total | Assets: | | | | | | | | Investments available-for-sale: | | | | | | | | Fixed maturities: | | | | | | | | U.S. Treasury securities and obligations of U.S. government agencies | $ | — |
| | $ | 673,262 |
| | $ | — |
| | $ | 673,262 |
| Obligations of states, municipalities and political subdivisions | — |
| | 4,317,547 |
| | — |
| | 4,317,547 |
| Foreign governments | — |
| | 1,611,921 |
| | — |
| | 1,611,921 |
| Commercial mortgage-backed securities | — |
| | 430,627 |
| | — |
| | 430,627 |
| Residential mortgage-backed securities | — |
| | 982,847 |
| | — |
| | 982,847 |
| Asset-backed securities | — |
| | 99,490 |
| | — |
| | 99,490 |
| Corporate bonds | — |
| | 2,307,188 |
| | — |
| | 2,307,188 |
| Total fixed maturities | — |
| | 10,422,882 |
| | — |
| | 10,422,882 |
| Equity securities: | | | | | | | | Insurance, banks and other financial institutions | 1,311,925 |
| | — |
| | — |
| | 1,311,925 |
| Industrial, consumer and all other | 2,825,651 |
| | — |
| | — |
| | 2,825,651 |
| Total equity securities | 4,137,576 |
| | — |
| | — |
| | 4,137,576 |
| Short-term investments | 1,469,975 |
| | 124,874 |
| | — |
| | 1,594,849 |
| Total investments available-for-sale | $ | 5,607,551 |
| | $ | 10,547,756 |
| | $ | — |
| | $ | 16,155,307 |
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