The Fair Value Option for Financial Assets and Financial Liabilities The Company has elected to account for certain financial assets and financial liabilities at fair value using the guidance under FASB ASC Topic Financial Instruments as the Company believes it represents the most meaningful measurement basis for these assets and liabilities. Below is a summary of the balances the Company has elected to account for at fair value: At December 31, 2021 2020 Other investments $ 1,993,059 $ 1,256,948 Other assets $ 6,100 $ 8,982 Other liabilities $ 10,827 $ 15,193 Included in net realized and unrealized gains on investments for 2021 was net unrealized gains of $41.7 million related to the changes in fair value of other investments (2020 – losses of $4.7 million, 2019 – gains of $3.8 million). Measuring the Fair Value of Other Investments Using Net Asset Valuations The table below shows the Company’s portfolio of other investments measured using net asset valuations as a practical expedient: At December 31, 2021 Fair Value Unfunded Commitments Redemption Frequency Redemption Notice Period (Minimum Days) Redemption Notice Period (Maximum Days) Private equity funds $ 241,297 $ 458,566 See below See below See below Private credit funds 473,112 868,571 See below See below See below Hedge funds 11,394 — See below See below See below Total other investments measured using net asset valuations $ 725,803 $ 1,327,137 At December 31, 2020 Fair Value Unfunded Commitments Redemption Frequency Redemption Notice Period (Minimum Days) Redemption Notice Period (Maximum Days) Private equity funds $ 140,743 $ 286,893 See below See below See below Private credit funds 144,556 692,425 See below See below See below Hedge funds 10,553 — See below See below See below Total other investments measured using net asset valuations $ 295,852 $ 979,318 4ivate 37it; 70&5 The Company’s investments in private equity funds include limited partnership or similar interests that invest in certain private equity asset classes including U.S. and global leveraged buyouts. The Company generally has no right to redeem its interest in any of these private equity funds in advance of dissolution of the applicable limited partnerships. Instead, distributions are received by the Company in connection with the exit from the underlying private equity investments of the fund. It is estimated that the majority of the underlying assets of the limited partnerships would liquidate over 5 to 10 years from inception of the limited partnership. F-38