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Fixed-Maturity Securities Available-For-Sale (Tables) | 9 Months Ended
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Sep. 30, 2025
Debt Securities, Available-for-Sale [Abstract] |
Schedule of Estimated Fair Value of Investments in Fixed-Maturity Securities Available-for-Sale | The amortized cost, gross unrealized gains and losses, and estimated fair value of investments in fixed-maturity securities available-for-sale at September 30, 2025 and December 31, 2024, are as follows:
|  | September 30, 2025 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
U.S. government and agencies |  | $ | 145,066 |  |  | $ | 1,941 |  |  | $ | (14 | ) |  | $ | 146,993 |
States, municipalities and political subdivisions |  |  | 166,703 |  |  |  | 3,423 |  |  |  | (144 | ) |  | $ | 169,982 |
Corporate Bonds |  |  | 129,982 |  |  |  | 3,823 |  |  |  | (7 | ) |  | $ | 133,798 |
Asset-Backed Securities |  |  | 23,703 |  |  |  | 145 |  |  |  | (18 | ) |  | $ | 23,830 |
|  | $ | 465,454 |  |  | $ | 9,332 |  |  | $ | (183 | ) |  | $ | 474,603 |
|  | December 31, 2024 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
U.S. government and agencies |  | $ | 166,641 |  |  | $ | 418 |  |  | $ | (776 | ) |  | $ | 166,283 |
U.S. states, territories and possessions |  |  | 17,344 |  |  |  | 71 |  |  |  | (193 | ) |  |  | 17,222 |
Industrial and miscellaneous |  |  | 149,104 |  |  |  | 1,350 |  |  |  | (429 | ) |  |  | 150,025 |
Special Revenue |  |  | 106,681 |  |  |  | 527 |  |  |  | (622 | ) |  |  | 106,586 |
Political subdivisions |  |  | 23,061 |  |  |  | 187 |  |  |  | (151 | ) |  |  | 23,097 |
Hybrid securities |  |  | 1,754 |  |  |  | — |  |  |  | (1 | ) |  |  | 1,753 |
|  | $ | 464,585 |  |  | $ | 2,553 |  |  | $ | (2,172 | ) |  | $ | 464,966 |
Schedule of Amortized Cost and Estimated Fair Value of Investments in Fixed-Maturity Securities | The amortized cost and estimated fair value of investments in fixed-maturity securities at September 30, 2025 and December 31, 2024, by contractual maturity, are shown below.
|  | September 30, 2025 |  |  | December 31, 2024 |
|  | Amortized Cost |  |  | Estimated Fair Value |  |  | Amortized Cost |  |  | Estimated Fair Value |
In one year or less |  | $ | 41,456 |  |  | $ | 41,609 |  |  | $ | 56,574 |  |  | $ | 56,666 |
After one year through five years |  |  | 273,751 |  |  |  | 279,568 |  |  |  | 286,584 |  |  |  | 287,703 |
After five years through 10 years |  |  | 122,082 |  |  |  | 125,209 |  |  |  | 112,702 |  |  |  | 112,117 |
After 10 years |  |  | 28,165 |  |  |  | 28,217 |  |  |  | 8,725 |  |  |  | 8,480 |
|  | $ | 465,454 |  |  | $ | 474,603 |  |  | $ | 464,585 |  |  | $ | 464,966 |
Schedule of Company's Investments Estimated Fair Value and Gross Unrealized Losses | The following tables show the Company’s investments estimated fair value and gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2025.
|  | September 30, 2025 |
|  | Less than 12 months |  |  | More than 12 months |  |  | Total |
|  | Estimated Fair Value |  |  | Unrealized Losses |  |  | Estimated Fair Value |  |  | Unrealized Losses |  |  | Estimated Fair Value |  |  | Unrealized Losses |
U.S. government and agencies |  | $ | 2,030 |  |  | $ | — |  |  | $ | 1,724 |  |  | $ | (14 | ) |  | $ | 3,754 |  |  | $ | (14 | )
States, municipalities and political subdivisions |  |  | 10,011 |  |  |  | (102 | ) |  |  | 2,436 |  |  |  | (42 | ) |  |  | 12,447 |  |  |  | (144 | )
Corporate Bonds |  |  | 445 |  |  |  | (1 | ) |  |  | 1,984 |  |  |  | (6 | ) |  |  | 2,429 |  |  |  | (7 | )
Asset-Backed Securities |  |  | 15,909 |  |  |  | (18 | ) |  |  | — |  |  |  | — |  |  |  | 15,909 |  |  |  | (18 | )
|  | $ | 28,395 |  |  | $ | (121 | ) |  | $ | 6,144 |  |  | $ | (62 | ) |  | $ | 34,539 |  |  | $ | (183 | )
The following tables show the Company’s investments estimated fair value and gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2024.
|  | December 31, 2024 |
|  | Less than 12 months |  |  | More than 12 months |  |  | Total |
|  | Estimated Fair Value |  |  | Unrealized Losses |  |  | Estimated Fair Value |  |  | Unrealized Losses |  |  | Estimated Fair Value |  |  | Unrealized Losses |
U.S. government and agencies |  | $ | 93,063 |  |  | $ | (729 | ) |  | $ | 2,975 |  |  | $ | (47 | ) |  | $ | 96,038 |  |  | $ | (776 | )
U.S. states, territories and possessions |  |  | 9,169 |  |  |  | (193 | ) |  |  | 502 |  |  |  | — |  |  |  | 9,671 |  |  |  | (193 | )
Industrial and miscellaneous |  |  | 69,745 |  |  |  | (389 | ) |  |  | 3,417 |  |  |  | (40 | ) |  |  | 73,162 |  |  |  | (429 | )
Special revenue |  |  | 43,829 |  |  |  | (604 | ) |  |  | 2,693 |  |  |  | (17 | ) |  |  | 46,522 |  |  |  | (621 | )
Political subdivisions |  |  | 4,477 |  |  |  | (151 | ) |  |  | 503 |  |  |  | (1 | ) |  |  | 4,980 |  |  |  | (152 | )
Hybrid securities |  |  | 1,754 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | 1,754 |  |  |  | (1 | )
|  | $ | 222,037 |  |  | $ | (2,067 | ) |  | $ | 10,090 |  |  | $ | (105 | ) |  | $ | 232,127 |  |  | $ | (2,172 | )
Schedule of Major Categories of Net Investment Income | Major categories of net investment income, excluding realized gains, are summarized as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Income: |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale fixed-maturity securities |  | $ | 5,666 |  |  | $ | 5,346 |  |  | $ | 16,551 |  |  | $ | 13,988 |
Cash and cash equivalents |  |  | 13,542 |  |  | $ | 7,513 |  |  |  | 31,704 |  |  |  | 20,629 |
Other investments |  |  | 106 |  |  | $ | 134 |  |  |  | 339 |  |  |  | 432 |
Total investment income |  | $ | 19,314 |  |  | $ | 12,993 |  |  | $ | 48,594 |  |  | $ | 35,049 |
Investment expenses |  |  | 221 |  |  | $ | 207 |  |  |  | 653 |  |  |  | 549 |
Net investment income |  | $ | 19,093 |  |  | $ | 12,786 |  |  | $ | 47,941 |  |  | $ | 34,500 |

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