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Investments (Tables) | 12 Months Ended
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Dec. 31, 2020
Investments [Abstract] |
Summary Of Unrealized Appreciation (Depreciation) Of Available For Sale, Fixed Maturity And Equity Security Investments |
|  | At December 31, 2020
|  | Amortized |  | Allowance for |  | Unrealized |  | Unrealized |  | Market
(Dollars in thousands) | Cost |  | Credit Losses |  | Appreciation |  | Depreciation |  | Value
Fixed maturity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |
| U.S. Treasury securities and obligations of |  |  |  |  |  |  |  |  |  |  |  |  |  |
| U.S. government agencies and corporations | $ | 1,325,156 |  | $ | - |  | $ | 49,084 |  | $ | (7,134) |  | $ | 1,367,106
| Obligations of U.S. states and political subdivisions |  | 543,895 |  |  | - |  |  | 34,654 |  |  | (1,254) |  |  | 577,295
| Corporate securities |  | 6,824,800 |  |  | (1,220) |  |  | 380,677 |  |  | (55,231) |  |  | 7,149,026
| Asset-backed securities |  | 2,540,809 |  |  | - |  |  | 30,691 |  |  | (5,698) |  |  | 2,565,802
| Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Commercial |  | 915,923 |  |  | - |  |  | 75,275 |  |  | (895) |  |  | 990,303
| Agency residential |  | 2,206,139 |  |  | - |  |  | 64,663 |  |  | (3,063) |  |  | 2,267,739
| Non-agency residential |  | 5,187 |  |  | - |  |  | 9 |  |  | (2) |  |  | 5,194
| Foreign government securities |  | 1,565,260 |  |  | (22) |  |  | 102,587 |  |  | (22,450) |  |  | 1,645,375
| Foreign corporate securities |  | 3,297,898 |  |  | (503) |  |  | 204,023 |  |  | (29,085) |  |  | 3,472,333
Total fixed maturity securities | $ | 19,225,067 |  | $ | (1,745) |  | $ | 941,663 |  | $ | (124,812) |  | $ | 20,040,173
|  | At December 31, 2019
|  | Amortized |  | Unrealized |  | Unrealized |  | Market |  | OTTI in AOCI
(Dollars in thousands) | Cost |  | Appreciation |  | Depreciation |  | Value |  | (a)
Fixed maturity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |
| U.S. Treasury securities and obligations of |  |  |  |  |  |  |  |  |  |  |  |  |  |
| U.S. government agencies and corporations | $ | 1,489,660 |  | $ | 28,357 |  | $ | (2,214) |  | $ | 1,515,803 |  | $ | -
| Obligations of U.S. states and political subdivisions |  | 507,353 |  |  | 29,651 |  |  | (89) |  |  | 536,915 |  |  | -
| Corporate securities |  | 6,227,661 |  |  | 185,052 |  |  | (37,767) |  |  | 6,374,946 |  |  | 469
| Asset-backed securities |  | 892,373 |  |  | 6,818 |  |  | (1,858) |  |  | 897,333 |  |  | -
| Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Commercial |  | 814,570 |  |  | 31,236 |  |  | (1,249) |  |  | 844,557 |  |  | -
| Agency residential |  | 2,173,099 |  |  | 36,361 |  |  | (10,879) |  |  | 2,198,581 |  |  | -
| Non-agency residential |  | 5,723 |  |  | - |  |  | (20) |  |  | 5,703 |  |  | -
| Foreign government securities |  | 1,492,315 |  |  | 47,148 |  |  | (33,513) |  |  | 1,505,950 |  |  | 71
| Foreign corporate securities |  | 2,870,737 |  |  | 107,999 |  |  | (33,580) |  |  | 2,945,156 |  |  | 447
Total fixed maturity securities | $ | 16,473,491 |  | $ | 472,622 |  | $ | (121,169) |  | $ | 16,824,944 |  | $ | 987
(a) Represents the amount of OTTI recognized in AOCI. Amount includes unrealized gains and losses on impaired securities relating to changes in the value of such securities subsequent to the impairment measurement date.
Summary Of Amortized Cost And Market Value Of Fixed Maturity Securities, By Contractual Maturity |
| At December 31, 2020 |  | At December 31, 2019
| Amortized |  | Market |  | Amortized |  | Market
(Dollars in thousands) | Cost |  | Value |  | Cost |  | Value
Fixed maturity securities – available for sale: |  |  |  |  |  |  |  |  |  |  |
Due in one year or less | $ | 1,365,793 |  | $ | 1,374,674 |  | $ | 1,456,960 |  | $ | 1,457,919
Due after one year through five years |  | 6,529,189 |  |  | 6,774,785 |  |  | 6,757,107 |  |  | 6,869,359
Due after five years through ten years |  | 4,414,211 |  |  | 4,751,903 |  |  | 3,471,370 |  |  | 3,609,816
Due after ten years |  | 1,247,816 |  |  | 1,309,773 |  |  | 902,289 |  |  | 941,676
Asset-backed securities |  | 2,540,809 |  |  | 2,565,802 |  |  | 892,373 |  |  | 897,333
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |
Commercial |  | 915,923 |  |  | 990,303 |  |  | 814,570 |  |  | 844,557
Agency residential |  | 2,206,139 |  |  | 2,267,739 |  |  | 2,173,099 |  |  | 2,198,581
Non-agency residential |  | 5,187 |  |  | 5,194 |  |  | 5,723 |  |  | 5,703
Total fixed maturity securities | $ | 19,225,067 |  | $ | 20,040,173 |  | $ | 16,473,491 |  | $ | 16,824,944
Summary Of Changes In Net Unrealized Appreciation (Depreciation) For The Company's Investments |
| Years Ended December 31,
(Dollars in thousands) | 2020 |  | 2019
Increase (decrease) during the period between the market value and cost |  |  |  |  |
of investments carried at market value, and deferred taxes thereon: |  |  |  |  |
Fixed maturity securities | $ | 465,192 |  | $ | 534,410
Fixed maturity securities, other-than-temporary impairment |  | - |  |  | (1,559)
Change in unrealized appreciation (depreciation), pre-tax |  | 465,192 |  |  | 532,851
Deferred tax benefit (expense) |  | (45,458) |  |  | (49,149)
Deferred tax benefit (expense), other-than-temporary impairment |  | - |  |  | 115
Change in unrealized appreciation (depreciation), |  |  |  |  |
net of deferred taxes, included in shareholders’ equity | $ | 419,734 |  | $ | 483,817
Summary Of Aggregate Market Value And Gross Unrealized Depreciation Of Fixed Maturity And Equity Securities, By Security Type |
|  | Duration of Unrealized Loss at December 31, 2020 By Security Type
| Less than 12 months |  | Greater than 12 months |  | Total
|  |  |  | Gross |  |  |  |  | Gross |  |  |  |  | Gross
|  |  |  | Unrealized |  |  |  |  | Unrealized |  |  |  |  | Unrealized
(Dollars in thousands) | Market Value |  | Depreciation |  | Market Value |  | Depreciation |  | Market Value |  | Depreciation
Fixed maturity securities - available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies and corporations | $ | 135,190 |  | $ | (7,134) |  | $ | - |  | $ | - |  | $ | 135,190 |  | $ | (7,134)
Obligations of U.S. states and political subdivisions |  | 19,524 |  |  | (999) |  |  | 4,059 |  |  | (255) |  |  | 23,583 |  |  | (1,254)
Corporate securities |  | 669,755 |  |  | (26,159) |  |  | 247,962 |  |  | (29,072) |  |  | 917,717 |  |  | (55,231)
Asset-backed securities |  | 235,566 |  |  | (4,768) |  |  | 85,595 |  |  | (930) |  |  | 321,161 |  |  | (5,698)
Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  | 53,511 |  |  | (578) |  |  | 6,592 |  |  | (317) |  |  | 60,103 |  |  | (895)
Agency residential |  | 434,447 |  |  | (2,016) |  |  | 50,353 |  |  | (1,047) |  |  | 484,800 |  |  | (3,063)
Non-agency residential |  | 185 |  |  | (2) |  |  | - |  |  | - |  |  | 185 |  |  | (2)
Foreign government securities |  | 114,755 |  |  | (8,813) |  |  | 150,812 |  |  | (13,637) |  |  | 265,567 |  |  | (22,450)
Foreign corporate securities |  | 354,548 |  |  | (17,489) |  |  | 115,595 |  |  | (11,596) |  |  | 470,143 |  |  | (29,085)
Total fixed maturity securities | $ | 2,017,481 |  | $ | (67,958) |  | $ | 660,968 |  | $ | (56,854) |  | $ | 2,678,449 |  | $ | (124,812)
|  | Duration of Unrealized Loss at December 31, 2019 By Security Type
| Less than 12 months |  | Greater than 12 months |  | Total
|  |  |  | Gross |  |  |  |  | Gross |  |  |  |  | Gross
|  |  |  | Unrealized |  |  |  |  | Unrealized |  |  |  |  | Unrealized
(Dollars in thousands) | Market Value |  | Depreciation |  | Market Value |  | Depreciation |  | Market Value |  | Depreciation
Fixed maturity securities - available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies and corporations | $ | 85,527 |  | $ | (1,005) |  | $ | 249,371 |  | $ | (1,209) |  | $ | 334,898 |  | $ | (2,214)
Obligations of U.S. states and political subdivisions |  | 4,600 |  |  | (38) |  |  | 5,522 |  |  | (51) |  |  | 10,122 |  |  | (89)
Corporate securities |  | 547,120 |  |  | (9,877) |  |  | 395,369 |  |  | (27,890) |  |  | 942,489 |  |  | (37,767)
Asset-backed securities |  | 176,222 |  |  | (1,027) |  |  | 94,190 |  |  | (831) |  |  | 270,412 |  |  | (1,858)
Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  | 83,127 |  |  | (689) |  |  | 23,063 |  |  | (560) |  |  | 106,190 |  |  | (1,249)
Agency residential |  | 344,267 |  |  | (1,834) |  |  | 488,680 |  |  | (9,045) |  |  | 832,947 |  |  | (10,879)
Non-agency residential |  | 332 |  |  | - |  |  | 3,976 |  |  | (20) |  |  | 4,308 |  |  | (20)
Foreign government securities |  | 210,766 |  |  | (4,770) |  |  | 283,648 |  |  | (28,743) |  |  | 494,414 |  |  | (33,513)
Foreign corporate securities |  | 278,403 |  |  | (7,553) |  |  | 365,808 |  |  | (26,027) |  |  | 644,211 |  |  | (33,580)
Total fixed maturity securities | $ | 1,730,364 |  | $ | (26,793) |  | $ | 1,909,627 |  | $ | (94,376) |  | $ | 3,639,991 |  | $ | (121,169)
Summary Of Aggregate Market Value And Gross Unrealized Depreciation Of Fixed Maturity And Equity Securities, By Contractual Maturity |
|  | Duration of Unrealized Loss at December 31, 2020 By Maturity
| Less than 12 months |  | Greater than 12 months |  | Total
|  |  |  | Gross |  |  |  |  | Gross |  |  |  |  | Gross
|  |  |  | Unrealized |  |  |  |  | Unrealized |  |  |  |  | Unrealized
(Dollars in thousands) | Market Value |  | Depreciation |  | Market Value |  | Depreciation |  | Market Value |  | Depreciation
Fixed maturity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Due in one year or less | $ | 96,144 |  | $ | (4,942) |  | $ | 112,419 |  | $ | (12,071) |  | $ | 208,563 |  | $ | (17,013)
Due in one year through five years |  | 653,816 |  |  | (32,469) |  |  | 283,866 |  |  | (21,319) |  |  | 937,682 |  |  | (53,788)
Due in five years through ten years |  | 422,517 |  |  | (19,392) |  |  | 49,749 |  |  | (2,034) |  |  | 472,266 |  |  | (21,426)
Due after ten years |  | 121,295 |  |  | (3,791) |  |  | 72,394 |  |  | (19,136) |  |  | 193,689 |  |  | (22,927)
Asset-backed securities |  | 235,566 |  |  | (4,768) |  |  | 85,595 |  |  | (930) |  |  | 321,161 |  |  | (5,698)
Mortgage-backed securities |  | 488,143 |  |  | (2,596) |  |  | 56,945 |  |  | (1,364) |  |  | 545,088 |  |  | (3,960)
Total fixed maturity securities | $ | 2,017,481 |  | $ | (67,958) |  | $ | 660,968 |  | $ | (56,854) |  | $ | 2,678,449 |  | $ | (124,812)
|  | Duration of Unrealized Loss at December 31, 2019 By Maturity
| Less than 12 months |  | Greater than 12 months |  | Total
|  |  |  | Gross |  |  |  |  | Gross |  |  |  |  | Gross
|  |  |  | Unrealized |  |  |  |  | Unrealized |  |  |  |  | Unrealized
(Dollars in thousands) | Market Value |  | Depreciation |  | Market Value |  | Depreciation |  | Market Value |  | Depreciation
Fixed maturity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Due in one year or less | $ | 67,879 |  | $ | (1,237) |  | $ | 416,583 |  | $ | (23,004) |  | $ | 484,462 |  | $ | (24,241)
Due in one year through five years |  | 464,753 |  |  | (7,960) |  |  | 689,195 |  |  | (38,138) |  |  | 1,153,948 |  |  | (46,098)
Due in five years through ten years |  | 495,741 |  |  | (12,388) |  |  | 103,612 |  |  | (11,100) |  |  | 599,353 |  |  | (23,488)
Due after ten years |  | 98,043 |  |  | (1,658) |  |  | 90,328 |  |  | (11,678) |  |  | 188,371 |  |  | (13,336)
Asset-backed securities |  | 176,222 |  |  | (1,027) |  |  | 94,190 |  |  | (831) |  |  | 270,412 |  |  | (1,858)
Mortgage-backed securities |  | 427,726 |  |  | (2,523) |  |  | 515,719 |  |  | (9,625) |  |  | 943,445 |  |  | (12,148)
Total fixed maturity securities | $ | 1,730,364 |  | $ | (26,793) |  | $ | 1,909,627 |  | $ | (94,376) |  | $ | 3,639,991 |  | $ | (121,169)
Summary Of Components Of Net Investment Income |
| Years Ended December 31,
(Dollars in thousands) | 2020 |  | 2019 |  |  | 2018
Fixed maturities | $ | 542,363 |  | $ | 520,291 |  | $ | 465,793
Equity securities |  | 18,776 |  |  | 19,505 |  |  | 25,327
Short-term investments and cash |  | 5,012 |  |  | 17,619 |  |  | 14,395
Other invested assets |  |  |  |  |  |  |  |
Limited partnerships |  | 112,853 |  |  | 105,815 |  |  | 93,327
Other |  | 1,699 |  |  | 14,117 |  |  | 16,960
Gross investment income before adjustments |  | 680,703 |  |  | 677,347 |  |  | 615,802
Funds held interest income (expense) |  | 12,754 |  |  | 13,271 |  |  | 6,300
Future policy benefit reserve income (expense) |  | (1,237) |  |  | (1,380) |  |  | (1,419)
Gross investment income |  | 692,220 |  |  | 689,238 |  |  | 620,683
Investment expenses |  | (49,755) |  |  | (42,099) |  |  | (39,500)
Net investment income | $ | 642,465 |  | $ | 647,139 |  | $ | 581,183
Summary Of Components Of Net Realized Capital Gains (Losses) |
| Years Ended December 31,
(Dollars in thousands) | 2020 |  |  | 2019 |  | 2018
Fixed maturity securities, market value: |  |  |  |  |  |  |  |
Allowance for credit losses | $ | (1,745) |  | $ | - |  | $ | -
Other-than-temporary impairments |  | - |  |  | (20,899) |  |  | (8,110)
Gains (losses) from sales |  | (2,214) |  |  | 28,025 |  |  | (21,719)
Fixed maturity securities, fair value: |  |  |  |  |  |  |  |
Gains (losses) from sales |  | (2,863) |  |  | 355 |  |  | (1,799)
Gains (losses) from fair value adjustments |  | 1,944 |  |  | 1,808 |  |  | 1,506
Equity securities, fair value: |  |  |  |  |  |  |  |
Gains (losses) from sales |  | (8,963) |  |  | 4,148 |  |  | (29,941)
Gains (losses) from fair value adjustments |  | 278,461 |  |  | 165,200 |  |  | (68,832)
Other invested assets |  | 1,705 |  |  | 6,003 |  |  | 1,815
Short-term investments gain (loss) |  | 1,324 |  |  | 364 |  |  | (56)
Total net realized capital gains (losses) | $ | 267,649 |  | $ | 185,004 |  | $ | (127,136)
|  | Roll Forward of Allowance for Credit Losses
|  | Twelve Months Ended December 31, 2020
|  |  |  |  | Foreign |  | Foreign |  |  |
|  | Corporate |  | Government |  | Corporate |  |  |
|  | Securities |  | Securities |  | Securities |  | Total
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance |  | $ | - |  | $ | - |  | $ | - |  | $ | -
Credit losses on securities where credit |  |  |  |  |  |  |  |  |  |  |  |
losses were not previously recorded |  |  | (27,666) |  |  | (518) |  |  | (4,700) |  |  | (32,884)
Increases in allowance on previously |  |  |  |  |  |  |  |  |  |  |  |
impaired securities |  |  | (6,136) |  |  | (28) |  |  | (481) |  |  | (6,645)
Decreases in allowance on previously |  |  |  |  |  |  |  |  |  |  |  |
impaired securities |  |  | 4,333 |  |  | 309 |  |  | 883 |  |  | 5,525
Reduction in allowance due to disposals |  |  | 28,249 |  |  | 215 |  |  | 3,795 |  |  | 32,259
Balance as of December 31, 2020 |  | $ | (1,220) |  | $ | (22) |  | $ | (503) |  | $ | (1,745)
Summary Of Gross Gains (Losses) From Sales Of Fixed Maturity And Equity Securities |
| Years Ended December 31,
(Dollars in thousands) | 2020 |  | 2019 |  | 2018
Proceeds from sales of fixed maturity securities | $ | 1,950,774 |  | $ | 3,283,154 |  | $ | 3,150,179
Gross gains from sales |  | 79,609 |  |  | 63,721 |  |  | 33,996
Gross losses from sales |  | (84,686) |  |  | (35,341) |  |  | (57,514)
Proceeds from sales of equity securities | $ | 376,347 |  | $ | 283,965 |  | $ | 1,199,409
Gross gains from sales |  | 37,415 |  |  | 14,274 |  |  | 31,718
Gross losses from sales |  | (46,378) |  |  | (10,126) |  |  | (61,659)

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