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v3.25.2

Investments (Details) - USD ($) $ in Thousands | Jun. 30, 2025 | Dec. 31, 2024
--- | --- | ---
Debt Securities, Available-for-sale [Line Items] |  |
Amortized Cost | $ 6,027,249 | $ 6,178,123
Gross Unrealized Gains | 41,822 | 19,722
Gross Unrealized Losses | (266,740) | (346,156)
Fair Value | 5,802,331 | 5,851,689
Assets held by insurance regulatory requirements | 12,900 | 12,200
Assets held in trust for the benefit of contractual counterparties | 203,600 | 199,900
U.S. Treasury securities and obligations of U.S. government corporations and agencies |  |
Debt Securities, Available-for-sale [Line Items] |  |
Amortized Cost | 341,550 | 265,349
Gross Unrealized Gains | 596 | 231
Gross Unrealized Losses | (3,452) | (5,087)
Fair Value | 338,694 | 260,493
Obligations of U.S. states and political subdivisions |  |
Debt Securities, Available-for-sale [Line Items] |  |
Amortized Cost | 1,994,628 | 2,065,953
Gross Unrealized Gains | 4,391 | 2,331
Gross Unrealized Losses | (161,614) | (192,789)
Fair Value | 1,837,405 | 1,875,495
Corporate debt securities |  |
Debt Securities, Available-for-sale [Line Items] |  |
Amortized Cost | 2,726,805 | 2,857,627
Gross Unrealized Gains | 27,734 | 12,593
Gross Unrealized Losses | (76,098) | (112,839)
Fair Value | 2,678,441 | 2,757,381
ABS |  |
Debt Securities, Available-for-sale [Line Items] |  |
Amortized Cost | 183,698 | 155,594
Gross Unrealized Gains | 3,153 | 2,157
Gross Unrealized Losses | (696) | (1,234)
Fair Value | 186,155 | 156,517
RMBS |  |
Debt Securities, Available-for-sale [Line Items] |  |
Amortized Cost | 379,179 | 373,485
Gross Unrealized Gains | 4,742 | 2,103
Gross Unrealized Losses | (20,642) | (25,528)
Fair Value | 363,279 | 350,060
CMBS |  |
Debt Securities, Available-for-sale [Line Items] |  |
Amortized Cost | 248,872 | 243,840
Gross Unrealized Gains | 963 | 21
Gross Unrealized Losses | (3,735) | (7,990)
Fair Value | 246,100 | 235,871
CLOs |  |
Debt Securities, Available-for-sale [Line Items] |  |
Amortized Cost | 124,435 | 199,773
Gross Unrealized Gains | 243 | 286
Gross Unrealized Losses | 0 | 0
Fair Value | 124,678 | 200,059
Foreign government debt |  |
Debt Securities, Available-for-sale [Line Items] |  |
Amortized Cost | 4,487 | 4,487
Gross Unrealized Gains | 0 | 0
Gross Unrealized Losses | (503) | (689)
Fair Value | 3,984 | 3,798
Commercial paper |  |
Debt Securities, Available-for-sale [Line Items] |  |
Amortized Cost | 23,595 | 12,015
Gross Unrealized Gains | 0 | 0
Gross Unrealized Losses | 0 | 0
Fair Value | $ 23,595 | $ 12,015

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