2025

2024

2023

Equity securities:

Change in unrealized investment gains (losses) during the year on
   securities held at the end of the year

$

39,981

$

49,297

$

69,144

Investment gains (losses) during the year on securities sold

(18

)

3,523

2,698

39,963

52,820

71,842

Fixed maturity securities:

Gross realized gains

53

28

139

Gross realized losses

(83

)

(71

)

(86

)

Other

(855

)

22

2,960

$

39,078

$

52,799

$

74,855