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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2025
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, 2025
(dollars in thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Investments: |  |  |  |  |  |  |
Fixed maturity securities, available-for-sale: |  |  |  |  |  |  |
U.S. Treasury securities | $ | — |  |  | $ | 5,504,200 |  |  | $ | — |  |  | $ | 5,504,200 |
U.S. government-sponsored enterprises | — |  |  | 1,522,998 |  |  | — |  |  | 1,522,998 |
Obligations of states, municipalities and political subdivisions | — |  |  | 3,650,162 |  |  | — |  |  | 3,650,162 |
Foreign governments, agencies and supranationals | — |  |  | 3,125,295 |  |  | — |  |  | 3,125,295 |
Agency mortgage-backed securities | — |  |  | 2,687,261 |  |  | — |  |  | 2,687,261 |
Non-agency mortgage-backed securities | — |  |  | 70,357 |  |  | — |  |  | 70,357 |
Corporate and university bonds | — |  |  | 212,135 |  |  | — |  |  | 212,135 |
Total fixed maturity securities, available-for-sale | — |  |  | 16,772,408 |  |  | — |  |  | 16,772,408 |
Equity securities: |  |  |  |  |  |  |
Insurance, banks and other financial institutions | 5,102,397 |  |  | — |  |  | — |  |  | 5,102,397 |
Industrial, consumer and all other | 7,227,707 |  |  | — |  |  | — |  |  | 7,227,707 |
Total equity securities | 12,330,104 |  |  | — |  |  | — |  |  | 12,330,104 |
Short-term investments, available-for-sale | 1,731,758 |  |  | 162,766 |  |  | — |  |  | 1,894,524 |
Total investments | $ | 14,061,862 |  |  | $ | 16,935,174 |  |  | $ | — |  |  | $ | 30,997,036 |
| December 31, 2024
(dollars in thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Investments: |  |  |  |  |  |  |
Fixed maturity securities, available-for-sale: |  |  |  |  |  |  |
U.S. Treasury securities | $ | — |  |  | $ | 5,087,858 |  |  | $ | — |  |  | $ | 5,087,858 |
U.S. government-sponsored enterprises | — |  |  | 1,346,236 |  |  | — |  |  | 1,346,236 |
Obligations of states, municipalities and political subdivisions | — |  |  | 3,619,492 |  |  | — |  |  | 3,619,492 |
Foreign governments, agencies and supranationals | — |  |  | 2,706,523 |  |  | — |  |  | 2,706,523 |
Agency mortgage-backed securities | — |  |  | 2,649,813 |  |  | — |  |  | 2,649,813 |
Non-agency mortgage-backed securities | — |  |  | 118,030 |  |  | — |  |  | 118,030 |
Corporate and university bonds | — |  |  | 217,587 |  |  | — |  |  | 217,587 |
Total fixed maturity securities, available-for-sale | — |  |  | 15,745,539 |  |  | — |  |  | 15,745,539 |
Equity securities: |  |  |  |  |  |  |
Insurance, banks and other financial institutions | 4,968,736 |  |  | — |  |  | 1,384 |  |  | 4,970,120 |
Industrial, consumer and all other | 6,814,401 |  |  | — |  |  | — |  |  | 6,814,401 |
Total equity securities | 11,783,137 |  |  | — |  |  | 1,384 |  |  | 11,784,521 |
Short-term investments, available-for-sale | 2,363,736 |  |  | 161,174 |  |  | — |  |  | 2,524,910 |
Total investments | $ | 14,146,873 |  |  | $ | 15,906,713 |  |  | $ | 1,384 |  |  | $ | 30,054,970 |

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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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