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Note 5 - Investments (Tables) | 6 Months Ended
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Jun. 30, 2020
Investments [Abstract] |
Available for Sale Securities [Table Text Block] | Our available for sale securities within our investment portfolio consisted of the following as of the dates indicated:
| June 30, 2020 |  |  |  |  |  |  |  |
(In thousands) | Amortized Cost |  | Allowance for Credit Losses |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Fixed-maturities available for sale: |  |  |  |  |  |  |  |  |
U.S. government and agency securities | $ | 122,956 |  |  | $ | — |  |  | $ | 10,087 |  |  | $ | — |  |  | $ | 133,043 |
State and municipal obligations | 109,106 |  |  | — |  |  | 14,102 |  |  | (91) |  |  | 123,117 |
Corporate bonds and notes | 2,455,572 |  |  | (2,476) |  |  | 201,051 |  |  | (3,572) |  |  | 2,650,575 |
RMBS | 798,750 |  |  | — |  |  | 37,101 |  |  | (82) |  |  | 835,769 |
CMBS | 614,556 |  |  | — |  |  | 31,600 |  |  | (8,665) |  |  | 637,491 |
Other ABS | 700,412 |  |  | — |  |  | 1,962 |  |  | (15,499) |  |  | 686,875 |
Foreign government and agency securities | 5,096 |  |  | — |  |  | 244 |  |  | — |  |  | 5,340 |
Total securities available for sale, including loaned securities | 4,806,448 |  |  | $ | (2,476) |  |  | $ | 296,147 |  |  | $ | (27,909) |  |  | 5,072,210 |
Less: loaned securities | 1,995 |  |  |  |  |  |  |  |  | 2,119 |
Total fixed-maturities available for sale | $ | 4,804,453 |  |  |  |  |  |  |  |  | $ | 5,070,091 |
| December 31, 2019 |  |  |  |  |  |
(In thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Fixed-maturities available for sale: |  |  |  |  |  |  |
U.S. government and agency securities | $ | 198,613 |  |  | $ | 2,048 |  |  | $ | (733) |  |  | $ | 199,928 |
State and municipal obligations | 112,003 |  |  | 8,032 |  |  | (41) |  |  | 119,994 |
Corporate bonds and notes | 2,136,819 |  |  | 106,189 |  |  | (1,728) |  |  | 2,241,280 |
RMBS | 766,429 |  |  | 14,452 |  |  | (1,527) |  |  | 779,354 |
CMBS | 593,647 |  |  | 14,993 |  |  | (625) |  |  | 608,015 |
Other ABS | 760,785 |  |  | 2,018 |  |  | (3,674) |  |  | 759,129 |
Foreign government and agency securities | 5,091 |  |  | 133 |  |  | — |  |  | 5,224 |
Total securities available for sale, including loaned securities | 4,573,387 |  |  | $ | 147,865 |  |  | $ | (8,328) |  |  | 4,712,924 |
Less: loaned securities | 23,853 |  |  |  |  |  |  | 24,013 |
Total fixed-maturities available for sale | $ | 4,549,534 |  |  |  |  |  |  | $ | 4,688,911 |
Rollforward of Allowance for Credit Losses | The following table provides a rollforward of the allowance for credit losses on fixed-maturities available for sale, which relates entirely to corporate bonds and notes for the periods indicated:
(In thousands) | Three Months Ended June 30, 2020 |  | Six Months Ended June 30, 2020
Beginning balance | $ | — |  |  | $ | — |
Current provision for securities without prior allowance | 2,782 |  |  | 2,782 |
Reduction for securities sold | (306) |  |  | (306) |
Ending balance | $ | 2,476 |  |  | $ | 2,476 |
Gross Unrealized Losses and Fair Value of Available for Sale Securities [Table Text Block] | the following tables show the gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of the dates indicated. Included in the amounts as of June 30, 2020 and December 31, 2019 are loaned securities under securities lending agreements that are classified as other assets in our condensed consolidated balance sheets, as further described below.
|  | June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
($ in thousands) Description of Securities |  | Less Than 12 Months |  |  |  |  |  | 12 Months or Greater |  |  |  |  |  | Total |  |  |  |
|  | # of securities |  | Fair Value |  | Unrealized Losses |  | # of securities |  | Fair Value |  | Unrealized Losses |  | # of securities |  | Fair Value |  | Unrealized Losses
State and municipal obligations |  | 3 |  |  | $ | 8,540 |  |  | $ | (91) |  |  | — |  |  | $ | — |  |  | $ | — |  |  | 3 |  |  | $ | 8,540 |  |  | $ | (91) |
Corporate bonds and notes |  | 56 |  |  | 181,498 |  |  | (3,572) |  |  | — |  |  | — |  |  | — |  |  | 56 |  |  | 181,498 |  |  | (3,572) |
RMBS |  | 2 |  |  | 3,776 |  |  | (2) |  |  | 3 |  |  | 10,220 |  |  | (80) |  |  | 5 |  |  | 13,996 |  |  | (82) |
CMBS |  | 47 |  |  | 130,339 |  |  | (8,353) |  |  | 5 |  |  | 6,965 |  |  | (312) |  |  | 52 |  |  | 137,304 |  |  | (8,665) |
Other ABS |  | 124 |  |  | 405,147 |  |  | (10,100) |  |  | 26 |  |  | 129,216 |  |  | (5,399) |  |  | 150 |  |  | 534,363 |  |  | (15,499) |
Total |  | 232 |  |  | $ | 729,300 |  |  | $ | (22,118) |  |  | 34 |  |  | $ | 146,401 |  |  | $ | (5,791) |  |  | 266 |  |  | $ | 875,701 |  |  | $ | (27,909) |
|  | December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
($ in thousands) Description of Securities |  | Less Than 12 Months |  |  |  |  |  | 12 Months or Greater |  |  |  |  |  | Total |  |  |  |
|  | # of securities |  | Fair Value |  | Unrealized Losses |  | # of securities |  | Fair Value |  | Unrealized Losses |  | # of securities |  | Fair Value |  | Unrealized Losses
U.S. government and agency securities |  | 2 |  |  | $ | 26,142 |  |  | $ | (731) |  |  | 2 |  |  | $ | 2,529 |  |  | $ | (2) |  |  | 4 |  |  | $ | 28,671 |  |  | $ | (733) |
State and municipal obligations |  | 1 |  |  | 3,959 |  |  | (41) |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 3,959 |  |  | (41) |
Corporate bonds and notes |  | 25 |  |  | 110,871 |  |  | (1,728) |  |  | — |  |  | — |  |  | — |  |  | 25 |  |  | 110,871 |  |  | (1,728) |
RMBS |  | 27 |  |  | 184,378 |  |  | (535) |  |  | 16 |  |  | 36,192 |  |  | (992) |  |  | 43 |  |  | 220,570 |  |  | (1,527) |
CMBS |  | 36 |  |  | 109,589 |  |  | (478) |  |  | 8 |  |  | 6,346 |  |  | (147) |  |  | 44 |  |  | 115,935 |  |  | (625) |
Other ABS |  | 63 |  |  | 225,944 |  |  | (670) |  |  | 44 |  |  | 209,661 |  |  | (3,004) |  |  | 107 |  |  | 435,605 |  |  | (3,674) |
Total |  | 154 |  |  | $ | 660,883 |  |  | $ | (4,183) |  |  | 70 |  |  | $ | 254,728 |  |  | $ | (4,145) |  |  | 224 |  |  | $ | 915,611 |  |  | $ | (8,328) |
Net Gains (Losses) on Investments and Other Financial Instruments [Table Text Block] | Net gains (losses) on investments consisted of:
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
(In thousands) | 2020 |  | 2019 |  | 2020 |  | 2019
Net realized gains (losses): |  |  |  |  |  |  |
Fixed-maturities available for sale (1) | $ | 6,974 |  |  | $ | 1,303 |  |  | $ | 18,221 |  |  | $ | 808 |
Trading securities | (45) |  |  | 274 |  |  | 4 |  |  | (410) |
Equity securities | 51 |  |  | — |  |  | 361 |  |  | (680) |
Other investments | 44 |  |  | 144 |  |  | 77 |  |  | 316 |
Net realized gains (losses) on investments | 7,024 |  |  | 1,721 |  |  | 18,663 |  |  | 34 |
Impairment losses due to intent to sell | (779) |  |  | — |  |  | (1,401) |  |  | — |
Net decrease (increase) in expected credit losses | (2,782) |  |  | — |  |  | (2,782) |  |  | — |
Net unrealized gains (losses) on investments | 24,948 |  |  | 9,117 |  |  | (1,897) |  |  | 28,586 |
Total net gains (losses) on investments | $ | 28,411 |  |  | $ | 10,838 |  |  | $ | 12,583 |  |  | $ | 28,620 |
______________________ (1)Components of net realized gains (losses) on fixed-maturities available for sale include:
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
(In thousands) | 2020 |  | 2019 |  | 2020 |  | 2019
Gross investment gains from sales and redemptions | $ | 8,304 |  |  | $ | 2,064 |  |  | $ | 20,203 |  |  | $ | 6,229 |
Gross investment losses from sales and redemptions | (1,330) |  |  | (761) |  |  | (1,982) |  |  | (5,421) |
Net Changes in Unrealized Gains (Losses) Recognized in Earnings [Table Text Block] | The net changes in unrealized gains (losses) recognized in earnings on investments that were still held at each period-end were as follows:
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
(In thousands) | 2020 |  | 2019 |  | 2020 |  | 2019
Net unrealized gains (losses) on investments still held: |  |  |  |  |  |  |
Trading securities | $ | 13,790 |  |  | $ | 7,608 |  |  | $ | 11,131 |  |  | $ | 15,027 |
Equity securities | 10,443 |  |  | 1,404 |  |  | (12,612) |  |  | 8,600 |
Other investments | (201) |  |  | 138 |  |  | 471 |  |  | 7 |
Net unrealized gains (losses) on investments still held | $ | 24,032 |  |  | $ | 9,150 |  |  | $ | (1,010) |  |  | $ | 23,634 |
Contractual Maturities [Table Text Block] | The contractual maturities of fixed-maturities available for sale were as follows:
| June 30, 2020 |  |
| Available for Sale |  |
(In thousands) | Amortized Cost |  | Fair Value
Due in one year or less (1) | $ | 92,098 |  |  | $ | 92,628 |
Due after one year through five years (1) | 871,081 |  |  | 915,497 |
Due after five years through 10 years (1) | 1,134,440 |  |  | 1,234,602 |
Due after 10 years (1) | 595,111 |  |  | 669,348 |
Asset-backed and other mortgage-backed securities (2) | 2,113,718 |  |  | 2,160,135 |
Total | 4,806,448 |  |  | 5,072,210 |
Less: loaned securities | 1,995 |  |  | 2,119 |
Total fixed-maturities available for sale | $ | 4,804,453 |  |  | $ | 5,070,091 |
______________________ (1)Actual maturities may differ as a result of calls before scheduled maturity. (2)Includes RMBS, CMBS and Other ABS, which are not due at a single maturity date.

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