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Investments | 3 Months Ended
--- | ---
Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract] |
Investments | Investments At March 31, 2015, the Company’s amortized cost and fair values of fixed maturity securities are summarized as follows:
(in thousands) | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
U.S. Treasury securities, obligations of U.S. Government agencies and Municipals | $ | 10,761 |  |  | $ | 33 |  |  | $ | — |  |  | $ | 10,794 |
Foreign government | 50 |  |  | 1 |  |  | — |  |  | 51 |
Corporate debt | 5,725 |  |  | 32 |  |  | (1 | ) |  | 5,756 |
Short duration fixed income fund | 2,155 |  |  | 30 |  |  | — |  |  | 2,185 |
Total | $ | 18,691 |  |  | $ | 96 |  |  | $ | (1 | ) |  | $ | 18,786 |
The following table shows the investments’ gross unrealized loss and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of March 31, 2015:
(in thousands) | Less than 12 Months |  | 12 Months or More |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Corporate debt | $ | 1,178 |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,178 |  |  | $ | 1 |
Total | $ | 1,178 |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,178 |  |  | $ | 1 |
The unrealized losses from corporate issuers were caused by interest rate increases. At March 31, 2015, the Company had 39 securities in an unrealized loss position. The contractual cash flows of the U.S. Treasury Securities and obligations of the U.S. Government agencies investments are either guaranteed by the U.S. Government or an agency of the U.S. Government. Accordingly, it is expected that the securities would not be settled at a price less than the amortized cost of the Company’s investment. The corporate securities are highly rated securities with no indicators of potential impairment. Based on the ability and intent of the Company to hold these investments until recovery of fair value, which may be maturity, the bonds were not considered to be other-than-temporarily impaired at March 31, 2015. At December 31, 2014, the Company’s amortized cost and fair values of fixed maturity securities are summarized as follows:
(in thousands) | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
U.S. Treasury securities, obligations of U.S. Government agencies and Municipals | $ | 10,774 |  |  | $ | 7 |  |  | $ | (1 | ) |  | $ | 10,780 |
Foreign government | 50 |  |  | — |  |  | — |  |  | 50 |
Corporate debt | 5,854 |  |  | 9 |  |  | (11 | ) |  | 5,852 |
Short duration fixed income fund | 3,143 |  |  | 37 |  |  |  |  | 3,180 |
Total | $ | 19,821 |  |  | $ | 53 |  |  | $ | (12 | ) |  | $ | 19,862 |
The following table shows the investments’ gross unrealized loss and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2014:
(in thousands) | Less than 12 Months |  | 12 Months or More |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
U.S. Treasury securities, obligations of U.S. Government agencies and Municipals | $ | 3,994 |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,994 |  |  | $ | 1 |
Foreign Government | $ | 50 |  |  | $ | — |  |  |  |  |  |  | $ | 50 |  |  | $ | — |
Corporate debt | $ | 4,439 |  |  | $ | 11 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,439 |  |  | $ | 11 |
Total | $ | 8,483 |  |  | $ | 12 |  |  | $ | — |  |  | $ | — |  |  | $ | 8,483 |  |  | $ | 12 |
The unrealized losses from corporate issuers were caused by interest rate increases. At December 31, 2014, the Company had 38 securities in an unrealized loss position. The contractual cash flows of the U.S. Treasury Securities and obligations of the U.S. Government agencies investments are either guaranteed by the U.S. Government or an agency of the U.S. Government. Accordingly, it is expected that the securities would not be settled at a price less than the amortized cost of the Company’s investment. The corporate securities are highly rated securities with no indicators of potential impairment. Based on the ability and intent of the Company to hold these investments until recovery of fair value, which may be maturity, the bonds were not considered to be other-than-temporarily impaired at December 31, 2014. The amortized cost and estimated fair value of the fixed maturity securities at March 31, 2015 by contractual maturity are set forth below:
(in thousands) | Amortized Cost |  | Fair Value
Years to maturity: |  |  |
Due in one year or less | $ | 8,134 |  |  | $ | 8,137 |
Due after one year through five years | 10,227 |  |  | 10,304 |
Due after five years through ten years | 330 |  |  | 345 |
Total | $ | 18,691 |  |  | $ | 18,786 |
The amortized cost and estimated fair value of the fixed maturity securities at December 31, 2014 by contractual maturity are set forth below:
(in thousands) | Amortized Cost |  | Fair Value
Years to maturity: |  |  |
Due in one year or less | $ | 5,628 |  |  | $ | 5,628 |
Due after one year through five years | 13,863 |  |  | 13,897 |
Due after five years through ten years | 330 |  |  | 337 |
Total | $ | 19,821 |  |  | $ | 19,862 |
The expected maturities in the foregoing table may differ from the contractual maturities because certain borrowers have the right to call or prepay obligations with or without penalty. Proceeds from sales of the Company’s investment in fixed maturity securities were $0.1 million including maturities from the period January 1, 2015 to March 31, 2015. There were no gains and losses realized on those sales for the period from January 1, 2015 to March 31, 2015. Realized gains and losses are reported on the consolidated statements of income and comprehensive income, with the cost of securities sold determined on a specific identification basis. At March 31, 2015, investments with a fair value of approximately $4.1 million were on deposit with the state insurance departments to satisfy regulatory requirements.

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