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Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Vale on a Recurring Basis
All assets measured at fair value are categorized in the table below based upon the lowest level of significant input to the valuations. All fair value measurements at the reporting date were on a recurring basis.
December 31, 2024 (In thousands)Quoted Prices
in Active 
Markets for
Identical
Instruments
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Recurring fair value measurements    
Financial Assets:    
U.S. Treasury securities$547,290 $— $— $547,290 
U.S. agency securities— — — — 
U.S. agency mortgage-backed securities— 1,125,436 — 1,125,436 
Municipal debt securities— 583,501 — 583,501 
Non-U.S. government securities— 69,798 — 69,798 
Corporate debt securities— 1,783,046 — 1,783,046 
Residential and commercial mortgage securities— 478,086 — 478,086 
Asset-backed securities— 631,959 — 631,959 
Money market funds657,605 — — 657,605 
Total assets at fair value (1) (2)$1,204,895 $4,671,826 $— $5,876,721 

December 31, 2023 (In thousands)Quoted Prices
in Active 
Markets for
Identical
Instruments
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Recurring fair value measurements    
Financial Assets:    
U.S. Treasury securities$996,382 $— $— $996,382 
U.S. agency securities— 7,195 — 7,195 
U.S. agency mortgage-backed securities— 821,346 — 821,346 
Municipal debt securities— 547,258 — 547,258 
Non-U.S. government securities— 67,447 — 67,447 
Corporate debt securities— 1,297,055 — 1,297,055 
Residential and commercial mortgage securities— 517,940 — 517,940 
Asset-backed securities— 564,995 — 564,995 
Money market funds444,121 — — 444,121 
Total assets at fair value (1) (2)
$1,440,503 $3,823,236 $— $5,263,739 
_______________________________________________________________________________
(1)Does not include the fair value of embedded derivatives, which we have accounted for separately as freestanding derivatives and included in other assets or other accrued liabilities in our consolidated balance sheet. See Note 5 for more information.
(2)Does not include certain other invested assets that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient, as applicable accounting standards do not provide for classification within the fair value hierarchy.