Investments (Table Text Block)
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6 Months Ended |
Sep. 30, 2025 |
|---|
| Investments Debt Equity Securities [Abstract] |
|
| Available for sale investments |
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Amortized
Cost |
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Gross
Unrealized
Gains |
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Gross
Unrealized
Losses |
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Allowance for Expected Credit Losses |
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Fair
Value |
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(Unaudited) |
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|
(In thousands) |
|
U.S. treasury securities and government obligations |
|
$ |
106,730 |
|
|
$ |
262 |
|
|
$ |
(6,012 |
) |
|
$ |
— |
|
|
$ |
100,980 |
|
U.S. government agency mortgage-backed securities |
|
|
79,463 |
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|
513 |
|
|
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(7,532 |
) |
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|
— |
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|
72,444 |
|
Obligations of states and political subdivisions |
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|
130,669 |
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|
413 |
|
|
|
(8,297 |
) |
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|
— |
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|
122,785 |
|
Corporate securities |
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1,737,046 |
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3,268 |
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(120,702 |
) |
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(4,573 |
) |
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|
1,615,039 |
|
Mortgage-backed securities |
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|
617,679 |
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|
2,672 |
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(37,170 |
) |
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|
— |
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|
583,181 |
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|
$ |
2,671,587 |
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|
$ |
7,128 |
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|
$ |
(179,713 |
) |
|
$ |
(4,573 |
) |
|
$ |
2,494,429 |
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| Available for sale investments, unrealized losses, fair value |
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September 30, 2025 |
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Less than or equal to 1 year |
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Greater than 1 year |
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Total |
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Fair Value |
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Unrealized Losses |
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Fair Value |
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Unrealized Losses |
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Fair Value |
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Unrealized Losses |
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|
(Unaudited) |
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(In thousands) |
|
U.S. treasury securities and government obligations |
|
|
$ |
— |
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|
|
$ |
— |
|
|
|
$ |
94,669 |
|
|
|
$ |
(6,012 |
) |
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|
$ |
94,669 |
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|
$ |
(6,012 |
) |
U.S. government agency mortgage-backed securities |
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|
10,695 |
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(46 |
) |
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19,921 |
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(7,486 |
) |
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30,616 |
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(7,532 |
) |
Obligations of states and political subdivisions |
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41,058 |
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(1,439 |
) |
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53,467 |
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(6,858 |
) |
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94,525 |
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(8,297 |
) |
Corporate securities |
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186,091 |
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(1,651 |
) |
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1,181,934 |
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(119,051 |
) |
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1,368,025 |
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(120,702 |
) |
Mortgage-backed securities |
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|
89,344 |
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(2,352 |
) |
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|
197,422 |
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(34,818 |
) |
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286,766 |
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|
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(37,170 |
) |
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|
$ |
327,188 |
|
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|
$ |
(5,488 |
) |
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$ |
1,547,413 |
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|
$ |
(174,225 |
) |
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$ |
1,874,601 |
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|
$ |
(179,713 |
) |
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| Adjusted Cost and Estimated Market Value of Available-for-sale Investments |
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September 30, 2025 |
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March 31, 2025 |
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Amortized
Cost |
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|
Fair
Value |
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|
Amortized
Cost |
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|
Fair
Value |
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|
(Unaudited) |
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|
(In thousands) |
|
Due in one year or less |
|
$ |
201,627 |
|
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$ |
200,792 |
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$ |
196,238 |
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$ |
194,896 |
|
Due after one year through five years |
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|
571,477 |
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|
560,967 |
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|
591,589 |
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|
576,204 |
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Due after five years through ten years |
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|
580,086 |
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|
540,400 |
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|
611,788 |
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|
558,430 |
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Due after ten years |
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|
700,718 |
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|
609,089 |
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|
746,468 |
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|
634,160 |
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2,053,908 |
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1,911,248 |
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2,146,083 |
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1,963,690 |
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|
Mortgage-backed securities |
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|
617,679 |
|
|
|
583,181 |
|
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|
562,479 |
|
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|
515,808 |
|
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$ |
2,671,587 |
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|
$ |
2,494,429 |
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|
$ |
2,708,562 |
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|
$ |
2,479,498 |
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| Available for sale equity investments |
Equity investments of common stock and non-redeemable preferred stock were as follows:
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|
September 30, 2025 |
|
|
March 31, 2025 |
|
|
|
Amortized
Cost |
|
|
Fair
Value |
|
|
Amortized
Cost |
|
|
Fair
Value |
|
|
|
(Unaudited) |
|
|
|
(In thousands) |
|
Common stocks |
|
$ |
32,938 |
|
|
$ |
47,289 |
|
|
$ |
30,108 |
|
|
$ |
43,413 |
|
Non-redeemable preferred stocks |
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|
19,103 |
|
|
|
15,683 |
|
|
|
25,144 |
|
|
|
22,136 |
|
|
|
$ |
52,041 |
|
|
$ |
62,972 |
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|
$ |
55,252 |
|
|
$ |
65,549 |
|
Changes in the market value of common stock and non-redeemable preferred stock are recognized in earnings.
|
| Carrying value of Investments, other |
The carrying value of the other investments was as follows:
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September 30, |
|
|
March 31, |
|
|
|
2025 |
|
|
2025 |
|
|
|
(Unaudited) |
|
|
|
(In thousands) |
|
Mortgage loans, net |
|
$ |
659,736 |
|
|
$ |
657,567 |
|
Policy loans |
|
|
12,079 |
|
|
|
11,868 |
|
Other investments |
|
|
7,657 |
|
|
|
8,819 |
|
|
|
$ |
679,472 |
|
|
$ |
678,254 |
|
|