At December 31, 2020 Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fixed maturity investments U.S. treasuries $ 4,960,409 $ 4,960,409 $ — $ — Agencies 368,032 — 368,032 — Non-U.S. government 491,531 — 491,531 — Non-U.S. government-backed corporate 338,014 — 338,014 — Corporate 4,261,025 — 4,261,025 — Agency mortgage-backed 1,113,792 — 1,113,792 — Non-agency mortgage-backed 291,444 — 291,444 — Commercial mortgage-backed 791,272 — 791,272 — Asset-backed 890,984 — 890,984 — Total fixed maturity investments 13,506,503 4,960,409 8,546,094 — Short term investments 4,993,735 — 4,993,735 — Equity investments trading 702,617 702,617 — — Other investments Catastrophe bonds 881,290 — 881,290 — Direct private equity investments (1) 79,807 — — 79,807 961,097 — 881,290 79,807 Fund investments (1) 295,851 Total other investments 1,256,948 — 881,290 79,807 Other assets and (liabilities) Assumed and ceded (re)insurance contracts (2) (6,211) — — (6,211) Derivative assets 45,233 156 45,077 — Derivative liabilities (3) (22,360) (567) (21,793) — Total other assets and (liabilities) 16,662 (411) 23,284 (6,211) $ 20,476,465 $ 5,662,615 $ 14,444,403 $ 73,596 (1) Fund investments, which are comprised of private equity funds, private credit funds, and hedge funds are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient and have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet. (2) Included in assumed and ceded (re)insurance contracts at December 31, 2020 was $1.4 million of other assets and $7.6 million of other liabilities. (3) Refer to “Note 19. Derivative Instruments” for additional information related to the fair value, by type of contract, of derivatives entered into by the Company. Level 1 and Level 2 Assets and Liabilities Measured at Fair Value Fixed Maturity Investments Fixed maturity investments included in Level 1 consist of the Company’s investments in U.S. treasuries. Fixed maturity investments included in Level 2 are agencies, non-U.S. government, non-U.S. government- backed corporate, corporate, agency mortgage-backed, non-agency mortgage-backed, commercial mortgage-backed and asset-backed. The Company’s fixed maturity investments are primarily priced using pricing services, such as index providers and pricing vendors, as well as broker quotations. In general, the pricing vendors provide pricing for a high volume of liquid securities that are actively traded. For securities that do not trade on an F-31