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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Balances Of Assets Measured At Fair Value On A Recurring Basis

The following tables present the balances of assets measured at fair value on a recurring basis by level within the fair value hierarchy.

			March 31, 2024
(dollars in thousands)			Level 1						Level 2						Level 3						Total
Assets:
Investments:
Fixed maturity securities, available-for-sale:
U.S. Treasury securities			$	—					$	4,045,990					$	—					$	4,045,990
U.S. government-sponsored enterprises			—						1,193,895						—						1,193,895
Obligations of states, municipalities and political subdivisions			—						3,846,588						—						3,846,588
Foreign governments			—						1,828,041						—						1,828,041
Commercial mortgage-backed securities			—						2,268,156						—						2,268,156
Residential mortgage-backed securities			—						441,678						—						441,678
Corporate bonds			—						895,022						—						895,022
Total fixed maturity securities, available-for-sale			—						14,519,370						—						14,519,370
Equity securities:
Insurance, banks and other financial institutions			4,177,578						—						1,157						4,178,735
Industrial, consumer and all other			6,392,240						—						—						6,392,240
Total equity securities			10,569,818						—						1,157						10,570,975
Short-term investments, available-for-sale			2,453,881						163,761						—						2,617,642
Total investments			$	13,023,699					$	14,683,131					$	1,157					$	27,707,987

			December 31, 2023
(dollars in thousands)			Level 1						Level 2						Level 3						Total
Assets:
Investments:
Fixed maturity securities, available-for-sale:
U.S. Treasury securities			$	—					$	3,784,713					$	—					$	3,784,713
U.S. government-sponsored enterprises			—						1,142,814						—						1,142,814
Obligations of states, municipalities and political subdivisions			—						4,029,305						—						4,029,305
Foreign governments			—						1,783,421						—						1,783,421
Commercial mortgage-backed securities			—						2,243,658						—						2,243,658
Residential mortgage-backed securities			—						470,422						—						470,422
Corporate bonds			—						918,399						—						918,399
Total fixed maturity securities, available-for-sale			—						14,372,732						—						14,372,732
Equity securities:
Insurance, banks and other financial institutions			3,694,375						—						994						3,695,369
Industrial, consumer and all other			5,882,502						—						—						5,882,502
Total equity securities			9,576,877						—						994						9,577,871
Short-term investments, available-for-sale			2,402,099						169,283						—						2,571,382
Total investments			$	11,978,976					$	14,542,015					$	994					$	26,521,985

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- References

No definition available.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

+ Details

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