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v3.23.1

INVESTMENTS - Gross Unrealized Losses (Details) $ in Thousands | Mar. 31, 2023 USD ($) security | Dec. 31, 2022 USD ($) security
--- | --- | ---
Fixed maturities, available for sale |  |
Fair value |  |
12 months or greater | $ 6,253,850 | $ 3,615,234
Less than 12 months | 2,779,448 | 6,269,478
Total | 9,033,298 | 9,884,712
Unrealized losses |  |
12 months or greater | (583,859) | (497,762)
Less than 12 months | (82,502) | (358,826)
Total | $ (666,361) | $ (856,588)
Number of securities in unrealized loss position | security | 4,372 | 4,525
Number of securities in a continuous unrealized loss position | security | 3,154 | 1,842
Fixed maturities, available for sale | Below Investment Grade or Not Rated |  |
Unrealized losses |  |
Total | $ (47,000) | $ (64,000)
U.S. government and agency |  |
Fair value |  |
12 months or greater | 808,593 | 467,032
Less than 12 months | 738,852 | 1,414,181
Total | 1,547,445 | 1,881,213
Unrealized losses |  |
12 months or greater | (51,696) | (41,365)
Less than 12 months | (18,799) | (56,424)
Total | (70,495) | (97,789)
Non-U.S. government |  |
Fair value |  |
12 months or greater | 263,740 | 207,637
Less than 12 months | 109,543 | 298,048
Total | 373,283 | 505,685
Unrealized losses |  |
12 months or greater | (31,114) | (33,027)
Less than 12 months | (2,215) | (19,885)
Total | (33,329) | (52,912)
Corporate debt |  |
Fair value |  |
12 months or greater | 2,499,437 | 1,562,355
Less than 12 months | 1,166,503 | 2,350,504
Total | 3,665,940 | 3,912,859
Unrealized losses |  |
12 months or greater | (287,339) | (268,289)
Less than 12 months | (34,475) | (150,701)
Total | (321,814) | (418,990)
Agency RMBS |  |
Fair value |  |
12 months or greater | 533,145 | 220,595
Less than 12 months | 433,607 | 771,191
Total | 966,752 | 991,786
Unrealized losses |  |
12 months or greater | (64,620) | (40,469)
Less than 12 months | (16,517) | (58,832)
Total | (81,137) | (99,301)
CMBS |  |
Fair value |  |
12 months or greater | 764,365 | 343,494
Less than 12 months | 140,843 | 599,877
Total | 905,208 | 943,371
Unrealized losses |  |
12 months or greater | (66,063) | (40,888)
Less than 12 months | (7,298) | (41,257)
Total | (73,361) | (82,145)
Non-agency RMBS |  |
Fair value |  |
12 months or greater | 99,758 | 75,137
Less than 12 months | 23,591 | 53,484
Total | 123,349 | 128,621
Unrealized losses |  |
12 months or greater | (15,383) | (14,691)
Less than 12 months | (456) | (3,834)
Total | (15,839) | (18,525)
ABS |  |
Fair value |  |
12 months or greater | 1,179,697 | 685,990
Less than 12 months | 134,693 | 686,190
Total | 1,314,390 | 1,372,180
Unrealized losses |  |
12 months or greater | (56,118) | (48,913)
Less than 12 months | (1,779) | (21,808)
Total | (57,897) | (70,721)
Municipals |  |
Fair value |  |
12 months or greater | 105,115 | 52,994
Less than 12 months | 31,816 | 96,003
Total | 136,931 | 148,997
Unrealized losses |  |
12 months or greater | (11,526) | (10,120)
Less than 12 months | (963) | (6,085)
Total | $ (12,489) | $ (16,205)

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