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Investment Securities | 6 Months Ended
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Jun. 30, 2016
Investments Debt And Equity Securities [Abstract] |
Investment Securities | Note 4: Investment Securities The amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of total fixed-maturity securities and total fixed-maturity securities held in trust at June 30, 2016, are as follows:
| June 30, 2016 |
Class of securities: | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
U.S. government treasury securities | $ | 249 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 250 |
Obligations of U.S. government sponsored enterprises |  | 60,463 |  |  |  | 18 |  |  |  | — |  |  |  | 60,481 |
Corporate debt securities |  | 18,833 |  |  |  | 100 |  |  |  | (3 | ) |  |  | 18,930 |
Foreign corporate debt securities |  | 8,359 |  |  |  | 21 |  |  |  | (2 | ) |  |  | 8,378 |
Total fixed-maturity securities |  | 87,904 |  |  |  | 140 |  |  |  | (5 | ) |  |  | 88,039 |
Less total unrestricted fixed-maturity securities |  | 58,260 |  |  |  | 16 |  |  |  | (1 | ) |  |  | 58,275 |
Total fixed-maturity securities held in trust | $ | 29,644 |  |  | $ | 124 |  |  | $ | (4 | ) |  | $ | 29,764 |
The amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of total fixed-maturity securities and total fixed-maturity securities held in trust at December 31, 2015, are as follows:
| December 31, 2015 |
Class of securities: | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
U.S. government treasury securities | $ | 249 |  |  | $ | — |  |  | $ | (1 | ) |  | $ | 248 |
Obligations of U.S. government sponsored enterprises |  | 69,392 |  |  |  | 13 |  |  |  | (23 | ) |  |  | 69,382 |
Corporate debt securities |  | 21,048 |  |  |  | 62 |  |  |  | (49 | ) |  |  | 21,061 |
Foreign corporate debt securities |  | 8,399 |  |  |  | 3 |  |  |  | (38 | ) |  |  | 8,364 |
Total fixed-maturity securities |  | 99,088 |  |  |  | 78 |  |  |  | (111 | ) |  |  | 99,055 |
Less total unrestricted fixed-maturity securities |  | 66,481 |  |  |  | 14 |  |  |  | (11 | ) |  |  | 66,484 |
Total fixed-maturity securities held in trust | $ | 32,607 |  |  | $ | 64 |  |  | $ | (100 | ) |  | $ | 32,571 |
Amortized cost and estimated fair value of fixed-maturity securities at June 30, 2016 by contractual maturity are as follows:
| Amortized Cost |  |  | Estimated Fair Value |
Maturity in: |  |  |  |  |  |  |
2016 | $ | 63,020 |  |  | $ | 63,034 |
2017-2019 |  | 24,884 |  |  |  | 25,005 |
Total fixed-maturity securities | $ | 87,904 |  |  | $ | 88,039 |
Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Net investment income for the periods ended June 30, 2016 and 2015, respectively, is summarized as follows:
| Three months ended June 30, 2016 |  |  | Three months ended June 30, 2015 |  |  | Six months ended June 30, 2016 |  |  | Six months ended June 30, 2015 |
Investment income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of premium or discount on fixed-maturity securities | $ | (51 | ) |  | $ | (144 | ) |  | $ | (173 | ) |  | $ | (323 | )
Investment income on fixed-maturity securities |  | 241 |  |  |  | 326 |  |  |  | 559 |  |  |  | 739 |
Interest income on cash and cash equivalents |  | 367 |  |  |  | 62 |  |  |  | 695 |  |  |  | 119 |
Realized net gain from sale of investments |  | 5 |  |  |  | 81 |  |  |  | 1 |  |  |  | 267 |
Unrealized gain (loss) on trading securities held at period end |  | 36 |  |  |  | (197 | ) |  |  | 167 |  |  |  | (273 | )
Net investment income | $ | 598 |  |  | $ | 128 |  |  | $ | 1,249 |  |  | $ | 529 |
The following table shows how the Company’s investments are categorized in accordance with fair value measurement, as of June 30, 2016:
| June 30, 2016 |
| Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Class of securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government treasury securities | $ | 250 |  |  | $ | — |  |  | $ | — |  |  | $ | 250 |
Obligations of U.S. government sponsored enterprises |  | 55,979 |  |  |  | 4,502 |  |  |  | — |  |  |  | 60,481 |
Corporate debt securities |  | 7,608 |  |  |  | 11,322 |  |  |  | — |  |  |  | 18,930 |
Foreign corporate debt securities |  | 2,507 |  |  |  | 5,871 |  |  |  | — |  |  |  | 8,378 |
Total fixed-maturity securities |  | 66,344 |  |  |  | 21,695 |  |  |  | — |  |  |  | 88,039 |
Money market funds |  | 6,134 |  |  |  | — |  |  |  | — |  |  |  | 6,134 |
Total | $ | 72,478 |  |  | $ | 21,695 |  |  | $ | — |  |  | $ | 94,173 |
The following table shows how the Company’s investments are categorized in accordance with fair value measurement, as of December 31, 2015:
| December 31, 2015 |
| Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Class of securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government treasury securities | $ | 248 |  |  | $ | — |  |  | $ | — |  |  | $ | 248 |
Obligations of U.S. government sponsored enterprises |  | 63,909 |  |  |  | 5,473 |  |  |  | — |  |  |  | 69,382 |
Corporate debt securities |  | 8,873 |  |  |  | 12,188 |  |  |  | — |  |  |  | 21,061 |
Foreign corporate debt securities |  | 2,007 |  |  |  | 6,357 |  |  |  | — |  |  |  | 8,364 |
Total fixed-maturity securities |  | 75,037 |  |  |  | 24,018 |  |  |  | — |  |  |  | 99,055 |
Money market funds |  | 7,301 |  |  |  | — |  |  |  | — |  |  |  | 7,301 |
Total | $ | 82,338 |  |  | $ | 24,018 |  |  | $ | — |  |  | $ | 106,356 |
A review of the fair value hierarchy classifications of the Company’s investments is conducted quarterly. Changes in the observability of valuation inputs may result in a reclassification for certain financial assets or liabilities. Reclassifications are reported as transfers in or transfers out of the applicable Level at the end of the calendar quarter in which the reclassifications occur. During the six months ended June 30, 2016 and the year ended December 31, 2015, $3.1 million and $9.9 million, respectively, of investments were transferred from Level 2 to Level 1 as a result of improving market conditions for short-term and investment grade corporate securities.
| January 1, 2016 to June 30, 2016 |  | January 1, 2015 to December 31, 2015 |
| Transfers from Level 1 to Level 2 |  |  | Transfers from Level 2 to Level 1 |  |  | Transfers from Level 1 to Level 2 |  |  | Transfers from Level 2 to Level 1 |
Class of securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities | $ | — |  |  | $ | 2,558 |  |  | $ | — |  |  | $ | 7,860 |
Foreign corporate debt securities |  | — |  |  |  | 501 |  |  |  | — |  |  |  | 2,007 |
Total transfers | $ | — |  |  | $ | 3,059 |  |  | $ | — |  |  | $ | 9,867 |

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27290-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27232-111563 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27161-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27357-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27405-111563 + Details
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