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v3.25.1

Investments (Table Text Block) | 12 Months Ended
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Mar. 31, 2025
Investments Debt Equity Securities [Abstract] |
Available for sale investments | Available-for-sale investments as of March 31, 2025 were as follows:
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Allowance for Expected Credit Losses |  |  | Fair Value |
|  | (In thousands) |
U.S. treasury securities and government obligations | $ |  | 119,289 |  | $ |  | 206 |  | $ |  | (8,353 | ) | $ |  | — |  | $ |  | 111,142 |
U.S. government agency mortgage-backed securities |  |  | 81,909 |  |  |  | 232 |  |  |  | (8,712 | ) |  |  | — |  |  |  | 73,429 |
Obligations of states and political subdivisions |  |  | 137,280 |  |  |  | 272 |  |  |  | (8,808 | ) |  |  | — |  |  |  | 128,744 |
Corporate securities |  |  | 1,807,605 |  |  |  | 1,623 |  |  |  | (155,749 | ) |  |  | (3,104 | ) |  |  | 1,650,375 |
Mortgage-backed securities |  |  | 562,479 |  |  |  | 582 |  |  |  | (47,253 | ) |  |  | — |  |  |  | 515,808 |
| $ |  | 2,708,562 |  | $ |  | 2,915 |  | $ |  | (228,875 | ) | $ |  | (3,104 | ) | $ |  | 2,479,498 |
Available-for-sale investments as of March 31, 2024 were as follows:
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Allowance for Expected Credit Losses |  |  | Fair Value |
|  | (in thousands) |
U.S. treasury securities and government obligations | $ |  | 191,070 |  | $ |  | 2,123 |  | $ |  | (8,921 | ) | $ |  | — |  | $ |  | 184,272 |
U.S. government agency mortgage-backed securities |  |  | 48,067 |  |  |  | 250 |  |  |  | (7,664 | ) |  |  | — |  |  |  | 40,653 |
Obligations of states and political subdivisions |  |  | 151,197 |  |  |  | 918 |  |  |  | (7,533 | ) |  |  | — |  |  |  | 144,582 |
Corporate securities |  |  | 1,963,249 |  |  |  | 2,762 |  |  |  | (152,799 | ) |  |  | (1,052 | ) |  |  | 1,812,160 |
Mortgage-backed securities |  |  | 306,510 |  |  |  | 34 |  |  |  | (45,707 | ) |  |  | — |  |  |  | 260,837 |
| $ |  | 2,660,093 |  | $ |  | 6,087 |  | $ |  | (222,624 | ) | $ |  | (1,052 | ) | $ |  | 2,442,504 |
Available for sale investments, unrealized losses, fair value |
|  |  | March 31, 2025 |
|  |  | Less than or equal to 1 year |  |  |  | Greater than 1 year |  |  |  | Total |
|  |  | Fair Value |  |  |  | Unrealized Losses |  |  |  | Fair Value |  |  |  | Unrealized Losses |  |  |  | Fair Value |  |  |  | Unrealized Losses |
|  |  | (In thousands) |
U.S. treasury securities and government obligations |  |  | $ | 1,760 |  |  |  | $ | (24 | ) |  |  | $ | 95,058 |  |  |  | $ | (8,329 | ) |  |  | $ | 96,818 |  |  |  | $ | (8,353 | )
U.S. government agency mortgage-backed securities |  |  |  | 36,871 |  |  |  |  | (197 | ) |  |  |  | 20,928 |  |  |  |  | (8,515 | ) |  |  |  | 57,799 |  |  |  |  | (8,712 | )
Obligations of states and political subdivisions |  |  |  | 46,036 |  |  |  |  | (1,628 | ) |  |  |  | 52,903 |  |  |  |  | (7,179 | ) |  |  |  | 98,939 |  |  |  |  | (8,807 | )
Corporate securities |  |  |  | 294,133 |  |  |  |  | (5,822 | ) |  |  |  | 1,239,884 |  |  |  |  | (149,927 | ) |  |  |  | 1,534,017 |  |  |  |  | (155,749 | )
Mortgage-backed securities |  |  |  | 188,328 |  |  |  |  | (3,911 | ) |  |  |  | 217,020 |  |  |  |  | (43,343 | ) |  |  |  | 405,348 |  |  |  |  | (47,254 | )
|  |  | $ | 567,128 |  |  |  | $ | (11,582 | ) |  |  | $ | 1,625,793 |  |  |  | $ | (217,293 | ) |  |  | $ | 2,192,921 |  |  |  | $ | (228,875 | )
|  |  | March 31, 2024 |
|  |  | Less than or equal to 1 year |  |  |  | Greater than 1 year |  |  |  | Total |
|  |  | Fair Value |  |  |  | Unrealized Losses |  |  |  | Fair Value |  |  |  | Unrealized Losses |  |  |  | Fair Value |  |  |  | Unrealized Losses |
|  |  | (In thousands) |
U.S. treasury securities and government obligations |  |  | $ | 1,888 |  |  |  | $ | (13 | ) |  |  | $ | 103,336 |  |  |  | $ | (8,908 | ) |  |  | $ | 105,224 |  |  |  | $ | (8,921 | )
U.S. government agency mortgage-backed securities |  |  |  | — |  |  |  |  | — |  |  |  |  | 23,711 |  |  |  |  | (7,664 | ) |  |  |  | 23,711 |  |  |  |  | (7,664 | )
Obligations of states and political subdivisions |  |  |  | 10,492 |  |  |  |  | (222 | ) |  |  |  | 80,082 |  |  |  |  | (7,311 | ) |  |  |  | 90,574 |  |  |  |  | (7,533 | )
Corporate securities |  |  |  | 132,513 |  |  |  |  | (1,258 | ) |  |  |  | 1,495,167 |  |  |  |  | (151,541 | ) |  |  |  | 1,627,680 |  |  |  |  | (152,799 | )
Mortgage-backed securities |  |  |  | 3,008 |  |  |  |  | (23 | ) |  |  |  | 248,423 |  |  |  |  | (45,684 | ) |  |  |  | 251,431 |  |  |  |  | (45,707 | )
|  |  | $ | 147,901 |  |  |  | $ | (1,516 | ) |  |  | $ | 1,950,719 |  |  |  | $ | (221,108 | ) |  |  | $ | 2,098,620 |  |  |  | $ | (222,624 | )
Adjusted Cost and Estimated Market Value of Available-for-sale Investments |
|  | March 31, 2025 |  |  | March 31, 2024 |
|  | Amortized Cost |  |  | Fair Value |  |  | Amortized Cost |  |  | Fair Value |
|  | (In thousands) |
Due in one year or less | $ |  | 196,238 |  | $ |  | 194,896 |  | $ |  | 266,357 |  | $ |  | 266,578 |
Due after one year through five years |  |  | 591,589 |  |  |  | 576,204 |  |  |  | 748,338 |  |  |  | 723,903 |
Due after five years through ten years |  |  | 611,788 |  |  |  | 558,430 |  |  |  | 614,890 |  |  |  | 564,422 |
Due after ten years |  |  | 746,468 |  |  |  | 634,160 |  |  |  | 723,998 |  |  |  | 626,764 |
|  |  | 2,146,083 |  |  |  | 1,963,690 |  |  |  | 2,353,583 |  |  |  | 2,181,667 |
Mortgage-backed securities |  |  | 562,479 |  |  |  | 515,808 |  |  |  | 306,510 |  |  |  | 260,837 |
| $ |  | 2,708,562 |  | $ |  | 2,479,498 |  | $ |  | 2,660,093 |  | $ |  | 2,442,504 |
Available for sale equity investments | Equity investments of common stock and non-redeemable preferred stock were as follows:
|  | March 31, 2025 |  |  | March 31, 2024 |
|  | Amortized Cost |  |  | Fair Value |  |  | Amortized Cost |  |  | Fair Value |
|  | (In thousands) |
Common stocks | $ |  | 30,108 |  | $ |  | 43,413 |  | $ |  | 29,604 |  | $ |  | 45,014 |
Non-redeemable preferred stocks |  |  | 25,144 |  |  |  | 22,136 |  |  |  | 25,144 |  |  |  | 21,260 |
| $ |  | 55,252 |  | $ |  | 65,549 |  | $ |  | 54,748 |  | $ |  | 66,274 |
Carrying value of Investments, other | The carrying value of other investments were as follows:
|  | March 31, |
|  | 2025 |  |  | 2024 |
|  | (In thousands) |
Mortgage loans, net | $ |  | 657,567 |  | $ |  | 604,481 |
Policy loans |  |  | 11,868 |  |  |  | 11,229 |
Other investments |  |  | 8,819 |  |  |  | 18,226 |
| $ |  | 678,254 |  | $ |  | 633,936 |

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