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v3.23.1

Fair Values of Financial Instruments (Assets and Liabilities Measured on a Recurring Basis by Fair Value Hierarchy) (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022
--- | --- | ---
Assets |  |  |
Derivative instruments | $ 684,033 | $ 431,727 | [1]
Market risk benefits | 230,304 | 229,871 | [1]
Liabilities |  |  |
Market risk benefits | 2,653,185 | 2,455,492 | [1]
Fair Value, Measurements, Recurring |  |  |
Assets |  |  |
Real estate investments | 1,053,631 | 940,559 |
Limited partnerships and limited liability companies | 1,065,627 | 684,835 |
Derivative instruments | 684,033 | 431,727 |
Cash and cash equivalents | 2,777,852 | 1,919,669 |
Market risk benefits | 230,304 | 229,871 |
Assets | 46,041,671 | 45,024,575 |
Liabilities |  |  |
Market risk benefits | 2,653,185 | 2,455,492 |
Liabilities | 7,180,834 | 6,834,473 |
Fair Value, Measurements, Recurring | U.S. Government and agencies |  |  |
Assets |  |  |
Investments | 177,878 | 169,071 |
Fair Value, Measurements, Recurring | States, municipalities and territories |  |  |
Assets |  |  |
Investments | 3,665,716 | 3,822,982 |
Fair Value, Measurements, Recurring | Foreign corporate securities and foreign governments |  |  |
Assets |  |  |
Investments | 677,833 | 676,852 |
Fair Value, Measurements, Recurring | Corporate securities |  |  |
Assets |  |  |
Investments | 23,401,001 | 24,161,921 |
Fair Value, Measurements, Recurring | Residential mortgage backed securities |  |  |
Assets |  |  |
Investments | 1,355,858 | 1,377,611 |
Fair Value, Measurements, Recurring | Commercial mortgage backed securities |  |  |
Assets |  |  |
Investments | 3,677,672 | 3,687,478 |
Fair Value, Measurements, Recurring | Other asset backed securities |  |  |
Assets |  |  |
Investments | 6,599,666 | 5,908,702 |
Fair Value, Measurements, Recurring | Other investments |  |  |
Assets |  |  |
Investments | 674,600 | 1,013,297 |
Fair Value, Measurements, Recurring | Funds withheld liability - embedded derivative |  |  |
Liabilities |  |  |
Derivative liabilities | (377,484) | (441,864) |
Fair Value, Measurements, Recurring | Fixed index annuities - embedded derivatives |  |  |
Liabilities |  |  |
Derivative liabilities | 4,905,133 | 4,820,845 |
Fair Value, Measurements, Recurring | NAV |  |  |
Assets |  |  |
Real estate investments | 0 | 0 |
Limited partnerships and limited liability companies | 901,301 | 620,626 |
Derivative instruments | 0 | 0 |
Cash and cash equivalents | 0 | 0 |
Market risk benefits | 0 | 0 |
Assets | 901,301 | 620,626 |
Liabilities |  |  |
Market risk benefits | 0 | 0 |
Liabilities | 0 | 0 |
Fair Value, Measurements, Recurring | NAV | U.S. Government and agencies |  |  |
Assets |  |  |
Investments | 0 | 0 |
Fair Value, Measurements, Recurring | NAV | States, municipalities and territories |  |  |
Assets |  |  |
Investments | 0 | 0 |
Fair Value, Measurements, Recurring | NAV | Foreign corporate securities and foreign governments |  |  |
Assets |  |  |
Investments | 0 | 0 |
Fair Value, Measurements, Recurring | NAV | Corporate securities |  |  |
Assets |  |  |
Investments | 0 | 0 |
Fair Value, Measurements, Recurring | NAV | Residential mortgage backed securities |  |  |
Assets |  |  |
Investments | 0 | 0 |
Fair Value, Measurements, Recurring | NAV | Commercial mortgage backed securities |  |  |
Assets |  |  |
Investments | 0 | 0 |
Fair Value, Measurements, Recurring | NAV | Other asset backed securities |  |  |
Assets |  |  |
Investments | 0 | 0 |
Fair Value, Measurements, Recurring | NAV | Other investments |  |  |
Assets |  |  |
Investments | 0 | 0 |
Fair Value, Measurements, Recurring | NAV | Funds withheld liability - embedded derivative |  |  |
Liabilities |  |  |
Derivative liabilities | 0 | 0 |
Fair Value, Measurements, Recurring | NAV | Fixed index annuities - embedded derivatives |  |  |
Liabilities |  |  |
Derivative liabilities | 0 | 0 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1) |  |  |
Assets |  |  |
Real estate investments | 0 | 0 |
Limited partnerships and limited liability companies | 0 | 0 |
Derivative instruments | 0 | 0 |
Cash and cash equivalents | 2,777,852 | 1,919,669 |
Market risk benefits | 0 | 0 |
Assets | 2,958,272 | 2,344,133 |
Liabilities |  |  |
Market risk benefits | 0 | 0 |
Liabilities | 0 | 0 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1) | U.S. Government and agencies |  |  |
Assets |  |  |
Investments | 29,978 | 26,184 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1) | States, municipalities and territories |  |  |
Assets |  |  |
Investments | 0 | 0 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1) | Foreign corporate securities and foreign governments |  |  |
Assets |  |  |
Investments | 0 | 0 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1) | Corporate securities |  |  |
Assets |  |  |
Investments | 0 | 0 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1) | Residential mortgage backed securities |  |  |
Assets |  |  |
Investments | 0 | 0 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1) | Commercial mortgage backed securities |  |  |
Assets |  |  |
Investments | 0 | 0 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1) | Other asset backed securities |  |  |
Assets |  |  |
Investments | 0 | 0 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1) | Other investments |  |  |
Assets |  |  |
Investments | 150,442 | 398,280 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1) | Funds withheld liability - embedded derivative |  |  |
Liabilities |  |  |
Derivative liabilities | 0 | 0 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1) | Fixed index annuities - embedded derivatives |  |  |
Liabilities |  |  |
Derivative liabilities | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) |  |  |
Assets |  |  |
Real estate investments | 0 | 0 |
Limited partnerships and limited liability companies | 0 | 0 |
Derivative instruments | 684,033 | 431,727 |
Cash and cash equivalents | 0 | 0 |
Market risk benefits | 0 | 0 |
Assets | 39,452,653 | 39,979,911 |
Liabilities |  |  |
Market risk benefits | 0 | 0 |
Liabilities | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | U.S. Government and agencies |  |  |
Assets |  |  |
Investments | 147,900 | 142,887 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | States, municipalities and territories |  |  |
Assets |  |  |
Investments | 3,568,057 | 3,822,982 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Foreign corporate securities and foreign governments |  |  |
Assets |  |  |
Investments | 677,833 | 676,852 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Corporate securities |  |  |
Assets |  |  |
Investments | 23,025,704 | 23,759,573 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Residential mortgage backed securities |  |  |
Assets |  |  |
Investments | 1,355,858 | 1,377,611 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Commercial mortgage backed securities |  |  |
Assets |  |  |
Investments | 3,677,672 | 3,687,478 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Other asset backed securities |  |  |
Assets |  |  |
Investments | 5,791,438 | 5,465,784 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Other investments |  |  |
Assets |  |  |
Investments | 524,158 | 615,017 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Funds withheld liability - embedded derivative |  |  |
Liabilities |  |  |
Derivative liabilities | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Fixed index annuities - embedded derivatives |  |  |
Liabilities |  |  |
Derivative liabilities | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) |  |  |
Assets |  |  |
Real estate investments | 1,053,631 | 940,559 |
Limited partnerships and limited liability companies | 164,326 | 64,209 |
Derivative instruments | 0 | 0 |
Cash and cash equivalents | 0 | 0 |
Market risk benefits | 230,304 | 229,871 |
Assets | 2,729,445 | 2,079,905 |
Liabilities |  |  |
Market risk benefits | 2,653,185 | 2,455,492 |
Liabilities | 7,180,834 | 6,834,473 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | U.S. Government and agencies |  |  |
Assets |  |  |
Investments | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | States, municipalities and territories |  |  |
Assets |  |  |
Investments | 97,659 | 0 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Foreign corporate securities and foreign governments |  |  |
Assets |  |  |
Investments | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Corporate securities |  |  |
Assets |  |  |
Investments | 375,297 | 402,348 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Residential mortgage backed securities |  |  |
Assets |  |  |
Investments | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Commercial mortgage backed securities |  |  |
Assets |  |  |
Investments | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Other asset backed securities |  |  |
Assets |  |  |
Investments | 808,228 | 442,918 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Other investments |  |  |
Assets |  |  |
Investments | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Funds withheld liability - embedded derivative |  |  |
Liabilities |  |  |
Derivative liabilities | (377,484) | (441,864) |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Fixed index annuities - embedded derivatives |  |  |
Liabilities |  |  |
Derivative liabilities | $ 4,905,133 | $ 4,820,845 |
[1] | Certain prior period amounts have been recast. See Note 1 - Significant Accounting Policies for more information.

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