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Fair Value (Tables) | 6 Months Ended
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Jun. 30, 2021
Fair Value [Abstract] |
Fair Value Measurement Levels For All Assets And Liabilities |
|  |  |  |  | Fair Value Measurement Using:
|  |  |  |  | Quoted Prices |  |  |  |  |  |
|  |  |  |  | in Active |  | Significant |  |  |
|  |  |  |  | Markets for |  | Other |  | Significant
|  |  |  |  | Identical |  | Observable |  | Unobservable
|  |  |  |  | Assets |  | Inputs |  | Inputs
(Dollars in thousands) |  | June 30, 2021 |  | (Level 1) |  | (Level 2) |  | (Level 3)
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Fixed maturities, market value |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies and corporations |  | $ | 1,275,758 |  | $ | - |  | $ | 1,275,758 |  | $ | -
Obligations of U.S. States and political subdivisions |  |  | 609,345 |  |  | - |  |  | 609,345 |  |  | -
Corporate securities |  |  | 7,359,704 |  |  | - |  |  | 6,654,133 |  |  | 705,571
Asset-backed securities |  |  | 3,169,417 |  |  | - |  |  | 2,354,141 |  |  | 815,276
Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  | 1,078,399 |  |  | - |  |  | 1,078,399 |  |  | -
Agency residential |  |  | 2,290,267 |  |  | - |  |  | 2,290,267 |  |  | -
Non-agency residential |  |  | 8,211 |  |  | - |  |  | 8,211 |  |  | -
Foreign government securities |  |  | 1,553,961 |  |  | - |  |  | 1,553,961 |  |  | -
Foreign corporate securities |  |  | 3,930,137 |  |  | - |  |  | 3,925,250 |  |  | 4,887
Total fixed maturities, market value |  |  | 21,275,199 |  |  | - |  |  | 19,749,465 |  |  | 1,525,734
Equity securities, fair value |  |  | 1,485,833 |  |  | 1,412,711 |  |  | 73,122 |  |  | -
|  |  |  |  |  | Fair Value Measurement Using:
|  |  |  |  | Quoted Prices |  |  |  |  |  |
|  |  |  |  | in Active |  | Significant |  |  |
|  |  |  |  | Markets for |  | Other |  | Significant
|  |  |  |  | Identical |  | Observable |  | Unobservable
|  |  |  |  | Assets |  | Inputs |  | Inputs
(Dollars in thousands) |  | December 31, 2020 |  | (Level 1) |  | (Level 2) |  | (Level 3)
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Fixed maturities, market value |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies and corporations |  | $ | 1,367,106 |  | $ | - |  | $ | 1,367,106 |  | $ | -
Obligations of U.S. States and political subdivisions |  |  | 577,295 |  |  | - |  |  | 577,295 |  |  | -
Corporate securities |  |  | 7,149,026 |  |  | - |  |  | 6,447,534 |  |  | 701,492
Asset-backed securities |  |  | 2,565,802 |  |  | - |  |  | 1,942,769 |  |  | 623,033
Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  | 990,303 |  |  | - |  |  | 990,303 |  |  | -
Agency residential |  |  | 2,267,739 |  |  | - |  |  | 2,267,739 |  |  | -
Non-agency residential |  |  | 5,194 |  |  | - |  |  | 5,194 |  |  | -
Foreign government securities |  |  | 1,645,375 |  |  | - |  |  | 1,645,375 |  |  | -
Foreign corporate securities |  |  | 3,472,333 |  |  | - |  |  | 3,466,634 |  |  | 5,699
Total fixed maturities, market value |  |  | 20,040,173 |  |  | - |  |  | 18,709,949 |  |  | 1,330,224
Equity securities, fair value |  |  | 1,472,236 |  |  | 1,368,704 |  |  | 103,532 |  |  | -
Activity Under Level 3, Fair Value Measurements Using Significant Unobservable Inputs By Asset Type |
|  |  | Total Fixed Maturities, Market Value
|  | Three Months Ended June 30, 2021 |  | Six Months Ended June 30, 2021
|  | Corporate |  | Asset-Backed |  | Foreign |  |  |  |  | Corporate |  | Asset-Backed |  | Foreign |  |  |
(Dollars in thousands) |  | Securities |  | Securities |  | Corporate |  | Total |  | Securities |  | Securities |  | Corporate |  | Total
Beginning balance fixed maturities at market value |  | $ | 704,542 |  | $ | 785,360 |  | $ | 5,598 |  | $ | 1,495,500 |  | $ | 701,492 |  | $ | 623,033 |  | $ | 5,699 |  | $ | 1,330,224
Total gains or (losses) (realized/unrealized) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Included in earnings |  |  | (13,761) |  |  | 206 |  |  | 137 |  |  | (13,418) |  |  | (15,550) |  |  | (3,962) |  |  | 140 |  |  | (19,372)
Included in other comprehensive income (loss) |  |  | 4,582 |  |  | 7,610 |  |  | (85) |  |  | 12,107 |  |  | 7,418 |  |  | 4,475 |  |  | (36) |  |  | 11,857
Purchases, issuances and settlements |  |  | 10,208 |  |  | 22,100 |  |  | (763) |  |  | 31,545 |  |  | 12,211 |  |  | 191,730 |  |  | (916) |  |  | 203,025
Transfers in and/or (out) of Level 3 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Ending balance |  | $ | 705,571 |  | $ | 815,276 |  | $ | 4,887 |  | $ | 1,525,734 |  | $ | 705,571 |  | $ | 815,276 |  | $ | 4,887 |  | $ | 1,525,734
The amount of total gains or losses for the period |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
included in earnings (or changes in net assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
attributable to the change in unrealized gains |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
or losses relating to assets still held |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
at the reporting date |  | $ | (17,279) |  | $ | (4,915) |  | $ | - |  | $ | (22,194) |  | $ | (17,279) |  | $ | (4,915) |  | $ | - |  | $ | (22,194)
(Some amounts may not reconcile due to rounding.) |  |  |  |  |  |  |  |  |
|  |  | Total Fixed Maturities, Market Value
|  |  | Three Months Ended June 30, 2020 |  |  | Six Months Ended June 30, 2020
|  | Corporate |  | Asset-Backed |  | Foreign |  |  |  |  | Corporate |  | Asset-Backed |  | Foreign |  |  |
(Dollars in thousands) |  | Securities |  | Securities |  | Corporate |  | Total |  | Securities |  | Securities |  | Corporate |  | Total
Beginning balance fixed maturities at market value |  | $ | 713,081 |  | $ | 238,631 |  | $ | - |  | $ | 951,712 |  | $ | 617,588 |  | $ | 153,641 |  | $ | 1,750 |  | $ | 772,979
Total gains or (losses) (realized/unrealized) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Included in earnings |  |  | (248) |  |  | 121 |  |  | (97) |  |  | (224) |  |  | (462) |  |  | 125 |  |  | (97) |  |  | (434)
Included in other comprehensive income (loss) |  |  | (549) |  |  | 18,092 |  |  | (40) |  |  | 17,503 |  |  | (3,906) |  |  | 2,210 |  |  | (40) |  |  | (1,736)
Purchases, issuances and settlements |  |  | 14,345 |  |  | 38,886 |  |  | 5,434 |  |  | 58,665 |  |  | 113,409 |  |  | 139,754 |  |  | 3,684 |  |  | 256,847
Transfers in and/or (out) of Level 3 |  |  | (4,795) |  |  | - |  |  | 977 |  |  | (3,818) |  |  | (4,795) |  |  | - |  |  | 977 |  |  | (3,818)
Ending balance |  | $ | 721,834 |  | $ | 295,730 |  | $ | 6,274 |  | $ | 1,023,838 |  | $ | 721,834 |  | $ | 295,730 |  | $ | 6,274 |  | $ | 1,023,838
The amount of total gains or losses for the period |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
included in earnings (or changes in net assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
attributable to the change in unrealized gains |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
or losses relating to assets still held |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
at the reporting date |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | (539) |  | $ | - |  | $ | - |  | $ | (539)
(Some amounts may not reconcile due to rounding.)
|  | Total Fixed Maturities, Fair Value
|  | Three Months Ended June 30, 2020 |  | Six Months Ended June 30, 2020
|  | Foreign |  |  |  |  | Foreign |  |  |
(Dollars in thousands) |  | Corporate |  | Total |  | Corporate |  | Total
Beginning balance fixed maturities at market value |  | $ | 4,703 |  | $ | 4,703 |  | $ | 5,826 |  | $ | 5,826
Total gains or (losses) (realized/unrealized) |  |  |  |  |  |  |  |  |  |  |  |
Included in earnings |  |  | (272) |  |  | (272) |  |  | (1,395) |  |  | (1,395)
Included in other comprehensive income (loss) |  |  | - |  |  | - |  |  | - |  |  | -
Purchases, issuances and settlements |  |  | - |  |  | - |  |  | - |  |  | -
Transfers in and/or (out) of Level 3 |  |  | - |  |  | - |  |  | - |  |  | -
Ending balance |  | $ | 4,431 |  | $ | 4,431 |  | $ | 4,431 |  | $ | 4,431
The amount of total gains or losses for the period |  |  |  |  |  |  |  |  |  |  |  |
included in earnings (or changes in net assets) |  |  |  |  |  |  |  |  |  |  |  |
attributable to the change in unrealized gains |  |  |  |  |  |  |  |  |  |  |  |
or losses relating to assets still held |  |  |  |  |  |  |  |  |  |  |  |
at the reporting date |  | $ | - |  | $ | - |  | $ | - |  | $ | -
(Some amounts may not reconcile due to rounding.)
Fair Value Measurements Using Significant Unobservable Inputs For Equity Index Put Option Contracts |
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
(Dollars in thousands) | 2021 |  | 2020 |  | 2021 |  | 2020
Common Stock |  |  |  |  |  |  |  |  |  |  |
Balance, beginning of period | $ | - |  | $ | - |  | $ | - |  | $ | -
Total (gains) or losses (realized/unrealized) |  |  |  |  |  |  |  |  |  |  |
Included in earnings |  | - |  |  | - |  |  | - |  |  | -
Included in other comprehensive income (loss) |  | - |  |  | - |  |  | - |  |  | -
Purchases, issuances and settlements |  | - |  |  | 9,877 |  |  | - |  |  | 9,877
Transfers in and/or (out) of Level 3 |  | - |  |  | - |  |  | - |  |  | -
Balance, end of period | $ | - |  | $ | 9,877 |  | $ | - |  | $ | 9,877
The amount of total gains or losses for the period included in earnings |  |  |  |  |  |  |  |  |  |  |
(or changes in net assets) attributable to the change in unrealized |  |  |  |  |  |  |  |  |  |  |
gains or losses relating to liabilities still held at the reporting date | $ | - |  | $ | - |  | $ | - |  | $ | -
(Some amounts may not reconcile due to rounding.)

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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