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Investments (Table Text Block) | 9 Months Ended
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Dec. 31, 2024
Investments Debt Equity Securities [Abstract] |
Available for sale investments |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Allowance for Expected Credit Losses |  |  | Fair Value |
|  | (Unaudited) |
|  | (In thousands) |
U.S. treasury securities and government obligations |  | $ | 141,224 |  |  | $ | 371 |  |  | $ | (6,094 | ) |  | $ | — |  |  | $ | 135,501 |
U.S. government agency mortgage-backed securities |  |  | 86,443 |  |  |  | 229 |  |  |  | (7,944 | ) |  |  | — |  |  |  | 78,728 |
Obligations of states and political subdivisions |  |  | 140,373 |  |  |  | 758 |  |  |  | (5,468 | ) |  |  | — |  |  |  | 135,663 |
Corporate securities |  |  | 1,879,165 |  |  |  | 5,643 |  |  |  | (111,690 | ) |  |  | (3,049 | ) |  |  | 1,770,069 |
Mortgage-backed securities |  |  | 529,735 |  |  |  | 2,979 |  |  |  | (35,549 | ) |  |  | — |  |  |  | 497,165 |
|  | $ | 2,776,940 |  |  | $ | 9,980 |  |  | $ | (166,745 | ) |  | $ | (3,049 | ) |  | $ | 2,617,126 |
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 |
|  | (Unaudited) |
|  | (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 |
|  |  | December 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 |
|  |  | (Unaudited) |
|  |  | (In thousands) |
U.S. treasury securities and government obligations |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | 99,405 |  |  |  | $ | (6,094 | ) |  |  | $ | 99,405 |  |  |  | $ | (6,094 | )
U.S. government agency mortgage-backed securities |  |  |  | 37,449 |  |  |  |  | (210 | ) |  |  |  | 22,153 |  |  |  |  | (7,733 | ) |  |  |  | 59,602 |  |  |  |  | (7,943 | )
Obligations of states and political subdivisions |  |  |  | 23,020 |  |  |  |  | (252 | ) |  |  |  | 59,752 |  |  |  |  | (5,216 | ) |  |  |  | 82,772 |  |  |  |  | (5,468 | )
Corporate securities |  |  |  | 120,515 |  |  |  |  | (330 | ) |  |  |  | 1,314,484 |  |  |  |  | (111,361 | ) |  |  |  | 1,434,999 |  |  |  |  | (111,691 | )
Mortgage-backed securities |  |  |  | 64,236 |  |  |  |  | (206 | ) |  |  |  | 228,897 |  |  |  |  | (35,343 | ) |  |  |  | 293,133 |  |  |  |  | (35,549 | )
|  |  | $ | 245,220 |  |  |  | $ | (998 | ) |  |  | $ | 1,724,691 |  |  |  | $ | (165,747 | ) |  |  | $ | 1,969,911 |  |  |  | $ | (166,745 | )
|  |  | 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 |
|  |  | (Unaudited) |
|  |  | (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 |
|  | December 31, 2024 |  |  | March 31, 2024 |
|  | Amortized Cost |  |  | Fair Value |  |  | Amortized Cost |  |  | Fair Value |
|  | (Unaudited) |
|  | (In thousands) |
Due in one year or less |  | $ | 211,754 |  |  | $ | 210,698 |  |  | $ | 266,357 |  |  | $ | 266,578 |
Due after one year through five years |  |  | 632,864 |  |  |  | 626,490 |  |  |  | 748,338 |  |  |  | 723,903 |
Due after five years through ten years |  |  | 602,819 |  |  |  | 568,543 |  |  |  | 614,890 |  |  |  | 564,422 |
Due after ten years |  |  | 799,768 |  |  |  | 714,230 |  |  |  | 723,998 |  |  |  | 626,764 |
|  |  | 2,247,205 |  |  |  | 2,119,961 |  |  |  | 2,353,583 |  |  |  | 2,181,667 |
Mortgage-backed securities |  |  | 529,735 |  |  |  | 497,165 |  |  |  | 306,510 |  |  |  | 260,837 |
|  | $ | 2,776,940 |  |  | $ | 2,617,126 |  |  | $ | 2,660,093 |  |  | $ | 2,442,504 |
Available for sale equity investments | Equity investments of common stock and non-redeemable preferred stock were as follows:
|  | December 31, 2024 |  |  | March 31, 2024 |
|  | Amortized Cost |  |  | Fair Value |  |  | Amortized Cost |  |  | Fair Value |
|  | (Unaudited) |
|  | (In thousands) |
Common stocks |  | $ | 29,491 |  |  | $ | 44,796 |  |  | $ | 29,604 |  |  | $ | 45,014 |
Non-redeemable preferred stocks |  |  | 25,144 |  |  |  | 22,871 |  |  |  | 25,144 |  |  |  | 21,260 |
|  | $ | 54,635 |  |  | $ | 67,667 |  |  | $ | 54,748 |  |  | $ | 66,274 |
Carrying value of Investments, other | The carrying value of the other investments was as follows:
|  | December 31, |  |  | March 31, |
|  | 2024 |  |  | 2024 |
|  | (Unaudited) |
|  | (In thousands) |
Mortgage loans, net |  | $ | 604,615 |  |  | $ | 604,481 |
Short-term investments |  |  | — |  |  |  | 997 |
Policy loans |  |  | 11,682 |  |  |  | 11,229 |
Other investments |  |  | 9,333 |  |  |  | 17,229 |
|  | $ | 625,630 |  |  | $ | 633,936 |

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