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Investment Securities | 6 Months Ended
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Jun. 30, 2018
Investments Debt And Equity Securities [Abstract] |
Investment Securities | Note 4: Investment Securities No investment securities were held as of June 30, 2018. 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, 2017, are as follows:
| December 31, 2017 |
Class of securities: | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
Obligations of U.S. government sponsored enterprises | $ | 2,249 |  |  | $ | — |  |  | $ | (10 | ) |  | $ | 2,239 |
Corporate debt securities |  | 1,425 |  |  |  | — |  |  |  | (4 | ) |  |  | 1,421 |
Total fixed-maturity securities |  | 3,674 |  |  |  | — |  |  |  | (14 | ) |  |  | 3,660 |
Less total unrestricted fixed-maturity securities |  | 2,151 |  |  |  | — |  |  |  | (9 | ) |  |  | 2,142 |
Total fixed-maturity securities held in trust | $ | 1,523 |  |  | $ | — |  |  | $ | (5 | ) |  | $ | 1,518 |
Net investment income for the three and six months ended June 30, 2018 and 2017, respectively, is summarized as follows:
| Three months ended June 30, 2018 |  |  | Three months ended June 30, 2017 |  |  | Six months ended June 30, 2018 |  |  | Six months ended June 30, 2017 |
Investment income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of premium or discount on fixed-maturity securities | $ | (6 | ) |  | $ | (45 | ) |  | $ | (13 | ) |  | $ | (76 | )
Investment income on fixed-maturity securities |  | 1 |  |  |  | 153 |  |  |  | 18 |  |  |  | 331 |
Interest income on cash and cash equivalents |  | 2,878 |  |  |  | 1,618 |  |  |  | 5,149 |  |  |  | 2,632 |
Realized gain (loss) from sale of investments |  | 6 |  |  |  | (25 | ) |  |  | 2 |  |  |  | (27 | )
Unrealized gain on cash equivalents held at period end |  | 163 |  |  |  | — |  |  |  | 58 |  |  |  | — |
Unrealized gain on trading securities held at period end |  | 17 |  |  |  | 2 |  |  |  | 15 |  |  |  | 23 |
Net investment income | $ | 3,059 |  |  | $ | 1,703 |  |  | $ | 5,229 |  |  | $ | 2,883 |
The following table shows how the Company’s investments are categorized in accordance with fair value measurement, as of June 30, 2018:
| June 30, 2018 |
| Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Money market funds |  | 28,684 |  |  |  | — |  |  |  | — |  |  |  | 28,684 |
Total | $ | 28,684 |  |  | $ | — |  |  | $ | — |  |  | $ | 28,684 |
The following table shows how the Company’s investments are categorized in accordance with fair value measurement, as of December 31, 2017:
| December 31, 2017 |
| Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Class of securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of U.S. government sponsored enterprises |  | 995 |  |  |  | 1,244 |  |  |  | — |  |  |  | 2,239 |
Corporate debt securities |  | 1,421 |  |  |  | — |  |  |  | — |  |  |  | 1,421 |
Total fixed-maturity securities |  | 2,416 |  |  |  | 1,244 |  |  |  | — |  |  |  | 3,660 |
Money market funds |  | 30,780 |  |  |  | — |  |  |  | — |  |  |  | 30,780 |
Total | $ | 33,196 |  |  | $ | 1,244 |  |  | $ | — |  |  | $ | 34,440 |
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, 2018 and the year ended December 31, 2017, zero and $2.4 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, 2018 to June 30, 2018 |  | January 1, 2017 to December 31, 2017 |
| 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: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of US government sponsored enterprises | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 995 |
Corporate debt securities |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,421 |
Total transfers | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,416 |

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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 -URI http://asc.fasb.org/topic&trid=2196928 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=4738149 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 954 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2289146 + Details
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