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Investments (Tables)

12 Months Ended

Dec. 31, 2024

Investments [Abstract]

Gains And Losses Due To Changes In Fair Value

The following table presents gains (losses) due to changes in fair value of investments that are measured at fair value pursuant to application of the fair value option:

			Year Ended December 31,
			2024						2023						2022
			(Amounts in thousands)
Fixed maturity securities			$	6,566					$	62,833					$	(260,223)
Equity securities			8,352						45,046						(185,694)
Short-term investments			909						107						88
Total gains (losses)			$	15,827					$	107,986					$	(445,829)

Gross Gains And Losses Realized On Sales Of Investments

The following table presents gross gains (losses) realized on the sales of investments:

			Year Ended December 31,
			2024																		2023																		2022
			(Amounts in thousands)
			Gross Realized Gains						Gross Realized Losses						Net						Gross Realized Gains						Gross Realized Losses						Net						Gross Realized Gains						Gross Realized Losses						Net
Fixed maturity securities			$	1,067					$	(3,812)					$	(2,745)					$	1,783					$	(3,246)					$	(1,463)					$	863					$	(71,425)					$	(70,562)
Equity securities			96,927						(33,857)						63,070						76,844						(91,109)						(14,265)						86,168						(61,252)						24,916
Short-term investments			13						(727)						(714)						—						(4)						(4)						8						(2,500)						(2,492)

Estimated Fair Values Of Investments

The following table presents the estimated fair values of the Company's fixed maturity securities at December 31, 2024 by contractual maturity. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

			Estimated Fair Value
			(Amounts in thousands)
Fixed maturity securities:
Due in one year or less			$	245,282
Due after one year through five years			1,121,053
Due after five years through ten years			994,491
Due after ten years			2,552,552
Total			$	4,913,378

Investment Income

The following table presents a summary of net investment income:

			Year Ended December 31,
			2024						2023						2022
			(Amounts in thousands)
Fixed maturity securities			$	207,798					$	173,167					$	127,336
Equity securities			43,107						44,223						43,495
Cash and Short-term investments			37,712						23,741						3,495
Total investment income			$	288,617					$	241,131					$	174,326
Less: investment expense			(8,628)						(6,501)						(5,970)
Net investment income			$	279,989					$	234,630					$	168,356

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Tabular disclosure of realized and unrealized gain (loss) on investment in security.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
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Tabular disclosure of investment income, including, but not limited to, interest and dividend income and amortization of discount (premium) derived from debt and equity securities. Excludes realized and unrealized gain (loss) on investments.

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