23 unchanged sentences
This typically occurs when rates fall below the interest rate of the debt.
−Removed: The carrying value of our investment portfolio as of June 30, 2021 and December 31, 2020 was $2.0 billion and $1.8 billion, respectively, of which 100% was invested in fixed maturity securities.
+Added: The carrying value of our investment portfolio as of September 30, 2021 and December 31, 2020 was $2.1 billion and $1.8 billion, respectively, of which 100% was invested in fixed maturity securities.
The primary market risk to our investment portfolio is interest rate risk associated with investments in fixed maturity securities.
We mitigate the market risk associated with our fixed maturity securities portfolio by matching the duration of our fixed maturity securities with the expected duration of the liabilities that those securities are intended to support.
−Removed: As of June 30, 2021, the duration of our fixed income portfolio, including cash and cash equivalents, was 5.05 years, which means that an instantaneous parallel shift (movement up or down) in the yield curve of 100 basis points would result in a change of 5.05% in fair value of our fixed income portfolio.
+Added: As of September 30, 2021, the duration of our fixed income portfolio, including cash and cash equivalents, was 5.08 years, which means that an instantaneous parallel shift (movement up or down) in the yield curve of 100 basis points would result in a change of 5.08% in fair value of our fixed income portfolio.
Excluding cash, our fixed income portfolio duration was 5.10 years, which means that an instantaneous parallel shift (movement up or down) in the yield curve of 100 basis points would result in a change of 5.10% in fair value of our fixed income portfolio.
5 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.