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Fair Value (Tables) | 6 Months Ended
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Jun. 30, 2022
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, 2022 (Level 1) (Level 2) (Level 3) Assets: Fixed maturities, available for sale U.S. Treasury securities and obligations of U.S. government agencies and corporations $ 1,338,230 $ - $ 1,338,230 $ - Obligations of U.S. States and political subdivisions 508,281 - 508,281 - Corporate securities 6,986,777 - 6,124,350 862,427 Asset-backed securities 3,898,679 - 2,643,282 1,255,397 Mortgage-backed securities Commercial 951,895 - 946,204 5,691 Agency residential 2,690,855 - 2,690,855 - Non-agency residential 5,141 - 5,141 - Foreign government securities 1,359,743 - 1,359,743 - Foreign corporate securities 4,140,842 - 4,100,881 39,961 Total fixed maturities, available for sale 21,880,443 - 19,716,967 2,163,476 Equity securities, fair value 1,299,221 1,226,921 72,300 - Fair Value Measurement Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Dollars in thousands) December 31, 2021 (Level 1) (Level 2) (Level 3) Assets: Fixed maturities, available for sale U.S. Treasury securities and obligations of U.S. government agencies and corporations $ 1,420,618 $ - $ 1,420,618 $ - Obligations of U.S. States and political subdivisions 586,621 - 586,621 - Corporate securities 7,556,898 - 6,756,324 800,574 Asset-backed securities 3,581,729 - 2,330,448 1,251,281 Mortgage-backed securities Commercial 1,064,366 - 1,064,366 - Agency residential 2,375,332 - 2,375,332 - Non-agency residential 6,536 - 6,536 - Foreign government securities 1,437,512 - 1,437,512 - Foreign corporate securities 4,278,660 - 4,262,645 16,015 Total fixed maturities, available for sale 22,308,272 - 20,240,402 2,067,870 Equity securities, fair value 1,825,908 1,742,367 83,541 -
Activity Under Level 3, Fair Value Measurements Using Significant Unobservable Inputs By Asset Type | Total Fixed Maturities, Available for Sale Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 Corporate Asset-Backed Foreign Corporate Asset-Backed Foreign (Dollars in thousands) Securities Securities CMBS Corporate Total Securities Securities CMBS Corporate Total Beginning balance fixed maturities $ 714,656 $ 1,388,691 $ 5,890 $ 15,926 $ 2,125,163 $ 800,574 $ 1,251,281 $ - $ 16,015 $ 2,067,870 Total gains or (losses) (realized/unrealized) Included in earnings (4,534) 35 - 16 (4,483) 11,409 137 - 29 11,575 Included in other comprehensive income (loss) (3,003) (47,202) (199) (3,747) (54,151) (7,170) (75,990) (222) (3,808) (87,190) Purchases, issuances and settlements 27,750 61,565 - 7,632 96,947 (69,944) 227,661 5,913 7,591 171,221 Transfers in/(out) of Level 3 and reclassification of securities in/(out) of investment categories 127,558 (147,692) - 20,134 - 127,558 (147,692) - 20,134 - Ending balance $ 862,427 $ 1,255,397 $ 5,691 $ 39,961 $ 2,163,476 $ 862,427 $ 1,255,397 $ 5,691 $ 39,961 $ 2,163,476 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 $ (5,261) $ 7,679 $ - $ - $ 2,418 $ (4,943) $ 7,679 $ - $ - $ 2,736 (Some amounts may not reconcile due to rounding.) Total Fixed Maturities, Available for Sale 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 $ 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/(out) of Level 3 and reclassification of securities in/(out) of investment categories - - - - - - - - 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.)

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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=123874694&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=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611 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 (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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