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Derivative Instruments (Tables)
12 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summarized Information on Location and Gross Amount of Derivatives on Consolidated Balance Sheets

The following table summarizes information on the location and the gross amount of the derivatives on the consolidated balance sheets as of December 31, 2022 and 2021:

 

(Dollars in thousands)

 

 

 

December 31, 2022

 

 

December 31, 2021

 

Derivatives Not Designated as Hedging Instruments under ASC 815

 

Balance Sheet
Location

 

Notional
Amount

 

 

Fair Value

 

 

Notional
Amount

 

 

Fair Value

 

Interest rate swap agreements

 

Other assets/liabilities

 

$

 

 

$

 

 

$

213,022

 

 

$

(8,395

)

Total

 

 

 

$

 

 

$

 

 

$

213,022

 

 

$

(8,395

)

Summary of Net Gain (Loss) Included in Consolidated Statements of Operations for Changes in Fair Value of Derivatives and Periodic Net Interest Settlements Under Derivatives

The following table summarizes the net gains (losses) included in the consolidated statements of operations for changes in the fair value of the derivatives and the periodic net interest settlements under the derivatives for the years ended December 31, 2022, 2021, and 2020:

 

 

 

Consolidated Statements of

 

Years Ended December 31,

 

(Dollars in thousands)

 

Operations Line

 

2022

 

 

2021

 

 

2020

 

Interest rate swap agreements

 

Net realized investment gains (losses)

 

$

10,073

 

 

$

2,424

 

 

$

(10,691

)

Futures contracts on bonds

 

Net realized investment gains (losses)

 

 

 

 

 

(319

)

 

 

(2,576

)

Futures contracts on equities

 

Net realized investment gains (losses)

 

 

 

 

 

 

 

 

(8,989

)

 

 

 

 

$

10,073

 

 

$

2,105

 

 

$

(22,256

)