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v3.25.3

Investments - Schedule of Aging of Unrealized Losses (Details) $ in Thousands | Sep. 30, 2025 USD ($) security | Dec. 31, 2024 USD ($) security
--- | --- | ---
Debt Securities, Available-for-sale [Line Items] |  |
Number of securities, less than 12 months | security | 23 | 98
Fair value, less than 12 months | $ 109,553 | $ 486,314
Unrealized losses, less than 12 months | $ (420) | $ (7,848)
Number of securities,12 months or greater | security | 414 | 474
Fair value, 12 months or greater | $ 1,392,691 | $ 1,578,701
Unrealized loss position, 12 months or greater | $ (95,089) | $ (150,774)
Number of securities, total | security | 437 | 572
Fair Value | $ 1,502,244 | $ 2,065,015
Unrealized Losses | $ (95,509) | $ (158,622)
U.S. Treasury securities and obligations of U.S. government agencies |  |
Debt Securities, Available-for-sale [Line Items] |  |
Number of securities, less than 12 months | security | 1 | 4
Fair value, less than 12 months | $ 125 | $ 8,002
Unrealized losses, less than 12 months |  | $ (98)
Number of securities,12 months or greater | security | 7 | 9
Fair value, 12 months or greater | $ 10,819 | $ 11,510
Unrealized loss position, 12 months or greater | $ (165) | $ (391)
Number of securities, total | security | 8 | 13
Fair Value | $ 10,944 | $ 19,512
Unrealized Losses | $ (165) | $ (489)
Municipal debt securities |  |
Debt Securities, Available-for-sale [Line Items] |  |
Number of securities, less than 12 months | security | 1 | 25
Fair value, less than 12 months | $ 893 | $ 110,648
Unrealized losses, less than 12 months | $ (3) | $ (1,928)
Number of securities,12 months or greater | security | 221 | 220
Fair value, 12 months or greater | $ 478,460 | $ 471,770
Unrealized loss position, 12 months or greater | $ (30,961) | $ (47,939)
Number of securities, total | security | 222 | 245
Fair Value | $ 479,353 | $ 582,418
Unrealized Losses | $ (30,964) | $ (49,867)
Corporate debt securities |  |
Debt Securities, Available-for-sale [Line Items] |  |
Number of securities, less than 12 months | security | 15 | 68
Fair value, less than 12 months | $ 64,253 | $ 366,113
Unrealized losses, less than 12 months | $ (378) | $ (5,822)
Number of securities,12 months or greater | security | 170 | 226
Fair value, 12 months or greater | $ 866,782 | $ 1,053,862
Unrealized loss position, 12 months or greater | $ (61,204) | $ (100,319)
Number of securities, total | security | 185 | 294
Fair Value | $ 931,035 | $ 1,419,975
Unrealized Losses | $ (61,582) | $ (106,141)
Asset-backed securities |  |
Debt Securities, Available-for-sale [Line Items] |  |
Number of securities, less than 12 months | security | 3 | 0
Fair value, less than 12 months | $ 13,133 | $ 0
Unrealized losses, less than 12 months | $ (37) | $ 0
Number of securities,12 months or greater | security | 16 | 19
Fair value, 12 months or greater | $ 36,630 | $ 41,559
Unrealized loss position, 12 months or greater | $ (2,759) | $ (2,125)
Number of securities, total | security | 19 | 19
Fair Value | $ 49,763 | $ 41,559
Unrealized Losses | $ (2,796) | $ (2,125)
Short-term investments |  |
Debt Securities, Available-for-sale [Line Items] |  |
Number of securities, less than 12 months | security | 3 | 1
Fair value, less than 12 months | $ 31,149 | $ 1,551
Unrealized losses, less than 12 months | $ (2) |
Number of securities,12 months or greater | security | 0 | 0
Fair value, 12 months or greater | $ 0 | $ 0
Unrealized loss position, 12 months or greater | $ 0 | $ 0
Number of securities, total | security | 3 | 1
Fair Value | $ 31,149 | $ 1,551
Unrealized Losses | $ (2) |

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