Investments (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Fair Value of Fixed Maturity and Equity Investments Trading

The following table summarizes the fair value of fixed maturity investments trading:



	March 31, 2021		December 31, 2020
U.S. treasuries	$	5,107,878	$	4,960,409
Agencies	227,184		368,032

Non-U.S. government	518,162		491,531

Non-U.S. government-backed corporate	335,662		338,014
Corporate	4,289,072		4,261,025
Agency mortgage-backed	957,563		1,113,792
Non-agency mortgage-backed	272,529		291,444
Commercial mortgage-backed	713,044		791,272
Asset-backed	888,140		890,984
Total fixed maturity investments trading	$	13,309,234	$	13,506,503

The following table summarizes the fair value of equity investments trading:



	March 31, 2021		December 31, 2020
Financials	$	241,360	$	452,765
Communications and technology	123,204		119,592
Consumer	45,586		44,477
Industrial, utilities and energy	48,935		43,380
Healthcare	36,248		35,140
Basic materials	7,804		7,263
Total	$	503,137	$	702,617

Schedule of Contractual Maturities of Fixed Maturity Investments

Contractual maturities of fixed maturity investments trading are described in the following table. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.




March 31, 2021	Amortized Cost		Fair Value
Due in less than one year	$	568,444	$	572,443
Due after one through five years	5,498,414		5,569,638
Due after five through ten years	3,822,345		3,786,423
Due after ten years	562,618		549,453
Mortgage-backed	1,922,325		1,943,137
Asset-backed	884,839		888,140
Total	$	13,258,985	$	13,309,234

Schedule of Net Investment Income

The components of net investment income are as follows:



	Three months ended
		March 31, 2021		March 31, 2020
Fixed maturity investments		$	62,933	$	73,338
Short term investments		573		12,092
Equity investments		1,491		1,551
Other investments
Catastrophe bonds		14,468		14,139
Other		3,801		1,629
Cash and cash equivalents		102		1,504
		83,368		104,253
Investment expenses		(3,564)		(4,780)
Net investment income		$	79,804	$	99,473

Schedule of Net Realized and Unrealized Gains (Losses)

Net realized and unrealized losses on investments are as follows:



	Three months ended
		March 31, 2021		March 31, 2020


Net realized gains on fixed maturity investments trading		$	20,398	$	57,487
Net unrealized losses on fixed maturity investments trading		(297,018)		(20,345)
Net realized and unrealized (losses) gains on fixed maturity investments trading		(276,620)		37,142
Net realized and unrealized gains on investments-related derivatives		14,861		33,181
Net realized gains (losses) on equity investments trading		109,887		(15,047)
Net unrealized losses on equity investments trading		(177,809)		(105,937)
Net realized and unrealized losses on equity investments trading		(67,922)		(120,984)
Net realized and unrealized losses on other investments - catastrophe bonds		(19,083)		(14,352)
Net realized and unrealized gains (losses) on other investments - other		3,201		(45,694)
Net realized and unrealized losses on investments		$	(345,563)	$	(110,707)