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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 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.

			June 30, 2024
(dollars in thousands)			Level 1						Level 2						Level 3						Total
Assets:
Investments:
Fixed maturity securities, available-for-sale:
U.S. Treasury securities			$	—					$	4,524,397					$	—					$	4,524,397
U.S. government-sponsored enterprises			—						1,247,869						—						1,247,869
Obligations of states, municipalities and political subdivisions			—						3,792,426						—						3,792,426
Foreign governments			—						1,847,879						—						1,847,879
Commercial mortgage-backed securities			—						2,199,628						—						2,199,628
Residential mortgage-backed securities			—						412,450						—						412,450
Corporate bonds			—						952,865						—						952,865
Total fixed maturity securities, available-for-sale			—						14,977,514						—						14,977,514
Equity securities:
Insurance, banks and other financial institutions			4,101,406						—						1,321						4,102,727
Industrial, consumer and all other			6,490,117						—						—						6,490,117
Total equity securities			10,591,523						—						1,321						10,592,844
Short-term investments, available-for-sale			2,633,686						154,072						—						2,787,758
Total investments			$	13,225,209					$	15,131,586					$	1,321					$	28,358,116

			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/2009/role/commonPracticeRef
-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

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-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

+ Details

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