(3) Investments in Fixed Maturity Securities 67 (In thousands) Amortized Cost Gross Unrealized Fair Value Carrying Value Gains Losses December 31, 2018 Held to maturity: State and municipal $ 67,891 $ 11,549 $ — $ 79,440 $ 67,891 Residential mortgage-backed 10,744 1,259 — 12,003 10,744 Total held to maturity 78,635 12,808 — 91,443 78,635 Available for sale: U.S. government and government agency 697,931 9,219 (4,910 ) 702,240 702,240 State and municipal: Special revenue 2,396,089 30,507 (19,790 ) 2,406,806 2,406,806 State general obligation 335,626 11,951 (1,103) 346,474 346,474 Pre-refunded 408,141 16,568 (30 ) 424,679 424,679 Corporate backed 272,440 4,319 (2,350) 274,409 274,409 Local general obligation 403,219 18,350 (1,339 ) 420,230 420,230 Total state and municipal 3,815,515 81,695 (24,612) 3,872,598 3,872,598 Mortgage-backed securities: Residential (1) 1,264,376 7,729 (20,225) 1,251,880 1,251,880 Commercial 345,070 1,304 (3,708 ) 342,666 342,666 Total mortgage-backed securities 1,609,446 9,033 (23,933) 1,594,546 1,594,546 Asset-backed securities 2,462,303 10,131 (33,687 ) 2,438,747 2,438,747 Corporate: Industrial 2,295,778 15,355 (53,312 ) 2,257,821 2,257,821 Financial 1,502,427 7,178 (45,683) 1,463,922 1,463,922 Utilities 330,326 2,997 (4,148 ) 329,175 329,175 Other 60,238 322 (167) 60,393 60,393 Total corporate 4,188,769 25,852 (103,310 ) 4,111,311 4,111,311 Foreign government 822,093 11,753 (25,111) 808,735 808,735 Total available for sale 13,596,057 147,683 (215,563 ) 13,528,177 13,528,177 Total investments in fixed maturity securities $ 13,674,692 $ 160,491 $ (215,563) $ 13,619,620 $ 13,606,812 At December 31, 2018 and 2017, investments in fixed maturity securities were as follows: