v3.24.1.u1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Balances Of Assets Measured At Fair Value On A Recurring Basis
The following tables present the balances of assets measured at fair value on a recurring basis by level within the fair value hierarchy.

March 31, 2024
(dollars in thousands)Level 1Level 2Level 3Total
Assets:
Investments:
Fixed maturity securities, available-for-sale:
U.S. Treasury securities$— $4,045,990 $— $4,045,990 
U.S. government-sponsored enterprises— 1,193,895 — 1,193,895 
Obligations of states, municipalities and political subdivisions— 3,846,588 — 3,846,588 
Foreign governments— 1,828,041 — 1,828,041 
Commercial mortgage-backed securities— 2,268,156 — 2,268,156 
Residential mortgage-backed securities— 441,678 — 441,678 
Corporate bonds— 895,022 — 895,022 
Total fixed maturity securities, available-for-sale— 14,519,370 — 14,519,370 
Equity securities:
Insurance, banks and other financial institutions4,177,578 — 1,157 4,178,735 
Industrial, consumer and all other6,392,240 — — 6,392,240 
Total equity securities10,569,818 — 1,157 10,570,975 
Short-term investments, available-for-sale2,453,881 163,761 — 2,617,642 
Total investments$13,023,699 $14,683,131 $1,157 $27,707,987 

December 31, 2023
(dollars in thousands)Level 1Level 2Level 3Total
Assets:
Investments:
Fixed maturity securities, available-for-sale:
U.S. Treasury securities$— $3,784,713 $— $3,784,713 
U.S. government-sponsored enterprises— 1,142,814 — 1,142,814 
Obligations of states, municipalities and political subdivisions— 4,029,305 — 4,029,305 
Foreign governments— 1,783,421 — 1,783,421 
Commercial mortgage-backed securities— 2,243,658 — 2,243,658 
Residential mortgage-backed securities— 470,422 — 470,422 
Corporate bonds— 918,399 — 918,399 
Total fixed maturity securities, available-for-sale— 14,372,732 — 14,372,732 
Equity securities:
Insurance, banks and other financial institutions3,694,375 — 994 3,695,369 
Industrial, consumer and all other5,882,502 — — 5,882,502 
Total equity securities9,576,877 — 994 9,577,871 
Short-term investments, available-for-sale2,402,099 169,283 — 2,571,382 
Total investments$11,978,976 $14,542,015 $994 $26,521,985