| Comprehensive Income (Loss) |
The following table summarizes the components of other comprehensive (loss) income for the three and nine months ended September 30, 2026 and 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | (in thousands) | | Unrealized (losses) gains on fixed-maturity securities arising during the period, before income taxes | | $ | (180,541) | | | $ | 27,170 | | | $ | (235,726) | | | $ | 78,884 | | | Income tax benefit (expense) | | 37,913 | | | (5,706) | | | 49,502 | | | (16,566) | | | Unrealized (losses) gains arising during the period, net of income taxes | | (142,628) | | | 21,464 | | | (186,224) | | | 62,318 | | | Less reclassification adjustment: | | | | | | | | | | Net realized (losses) gains on fixed-maturity securities, before income taxes | | (37,575) | | | 1,684 | | | (37,639) | | | 1,723 | | | Income tax benefit (expense) | | 7,891 | | | (354) | | | 7,904 | | | (362) | | | Reclassification adjustment included in net income | | (29,684) | | | 1,330 | | | (29,735) | | | 1,361 | | | Change in allowance for credit losses on investments, before income taxes | | 1 | | | 4 | | | (26) | | | (11) | | | Income tax benefit (expense) | | (1) | | | (1) | | | 5 | | | 2 | | | Reclassification adjustment included in net income | | — | | | 3 | | | (21) | | | (9) | | | Other comprehensive (loss) income | | $ | (112,944) | | | $ | 20,131 | | | $ | (156,468) | | | $ | 60,966 | |
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