XML 53 R37.htm IDEA: XBRL DOCUMENT v3.5.0.2
Fair Value of Financial Instruments (Details 1) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Financial Assets        
Beginning balance $ 200,391 $ 158,763 $ 173,426 $ 171,300
Transfers into Level 3 18,001 [1] 34,879 [2] 50,453 [1] 37,235 [2]
Transfers out of Level 3 0 [1] (1,350) [2] 0 [1] (11,014) [2]
Total gains or losses        
Net realized gains (losses) included in net income related to financial assets (657) 0 (657) 0
Net unrealized gains (losses) included in other comprehensive income 2,919 (2,359) 4,784 (1,624)
Purchases 0 0 0 0
Issuances 0 0 0 0
Sales 0 (476) 0 (476)
Settlements 0 0 0 0
Paydowns, maturities and distributions (3,012) (2,358) (10,364) (8,322)
Ending balance 217,642 187,099 217,642 187,099
Financial Liabilities        
Beginning balance [3] 42,085 22,040 39,021 20,049
Transfers into Level 3 [3] 0 [1] 0 [2] 0 [1] 0 [2]
Transfers out of Level 3 [3] 0 [1] 0 [2] 0 [1] 0 [2]
Total gains or losses        
Net realized (gains) losses included in net income related to financial liabilities [3] 1,324 (28) 1,998 (467)
Purchases [3] 0 0 0 0
Issuances [3] 4,993 4,948 8,484 7,912
Sales [3] 0 0 0 0
Settlements [3] 0 0 0 0
Paydowns, maturities and distributions [3] (696) (241) (1,797) (775)
Ending balance [3] 47,706 26,719 47,706 26,719
Municipal bonds [Member]        
Financial Assets        
Beginning balance 46,493 13,885 30,379 13,628
Transfers into Level 3 0 [1] 16,326 [2] 14,751 [1] 16,326 [2]
Transfers out of Level 3 0 [1] 0 [2] 0 [1] 0 [2]
Total gains or losses        
Net realized gains (losses) included in net income related to financial assets 0 0 0 0
Net unrealized gains (losses) included in other comprehensive income 1,297 (485) 2,781 (105)
Purchases 0 0 0 0
Issuances 0 0 0 0
Sales 0 0 0 0
Settlements 0 0 0 0
Paydowns, maturities and distributions (143) (57) (264) (180)
Ending balance 47,647 29,669 47,647 29,669
Corporate bonds [Member]        
Financial Assets        
Beginning balance 70,071 72,278 67,575 74,717
Transfers into Level 3 5,017 [1] 3,834 [2] 11,076 [1] 5,729 [2]
Transfers out of Level 3 0 [1] (1,350) [2] 0 [1] (1,350) [2]
Total gains or losses        
Net realized gains (losses) included in net income related to financial assets (657) 0 (657) 0
Net unrealized gains (losses) included in other comprehensive income 1,393 (1,436) 1,781 (1,084)
Purchases 0 0 0 0
Issuances 0 0 0 0
Sales 0 (476) 0 (476)
Settlements 0 0 0 0
Paydowns, maturities and distributions (2,416) (126) (6,367) (4,812)
Ending balance 73,408 72,724 73,408 72,724
Mortgage-backed securities [Member]        
Financial Assets        
Beginning balance 83,821 [4] 72,594 75,466 [4] 82,949
Transfers into Level 3 12,984 [1],[4] 14,719 [2] 24,626 [1],[4] 15,180 [2]
Transfers out of Level 3 0 [1],[4] 0 [2] 0 [1],[4] (9,664) [2]
Total gains or losses        
Net realized gains (losses) included in net income related to financial assets 0 [4] 0 0 [4] 0
Net unrealized gains (losses) included in other comprehensive income 229 [4] (438) 222 [4] (435)
Purchases 0 [4] 0 0 [4] 0
Issuances 0 [4] 0 0 [4] 0
Sales 0 [4] 0 0 [4] 0
Settlements 0 [4] 0 0 [4] 0
Paydowns, maturities and distributions (453) [4] (2,175) (3,733) [4] (3,330)
Ending balance 96,581 [4] 84,700 96,581 [4] 84,700
Total Fixed Maturities [Member]        
Financial Assets        
Beginning balance 200,385 158,757 173,420 171,294
Transfers into Level 3 18,001 [1] 34,879 [2] 50,453 [1] 37,235 [2]
Transfers out of Level 3 0 [1] (1,350) [2] 0 [1] (11,014) [2]
Total gains or losses        
Net realized gains (losses) included in net income related to financial assets (657) 0 (657) 0
Net unrealized gains (losses) included in other comprehensive income 2,919 (2,359) 4,784 (1,624)
Purchases 0 0 0 0
Issuances 0 0 0 0
Sales 0 (476) 0 (476)
Settlements 0 0 0 0
Paydowns, maturities and distributions (3,012) (2,358) (10,364) (8,322)
Ending balance 217,636 187,093 217,636 187,093
Equity securities [Member]        
Financial Assets        
Beginning balance 6 6 6 6
Transfers into Level 3 0 [1] 0 [2] 0 [1] 0 [2]
Transfers out of Level 3 0 [1] 0 [2] 0 [1] 0 [2]
Total gains or losses        
Net realized gains (losses) included in net income related to financial assets 0 0 0 0
Net unrealized gains (losses) included in other comprehensive income 0 0 0 0
Purchases 0 0 0 0
Issuances 0 0 0 0
Sales 0 0 0 0
Settlements 0 0 0 0
Paydowns, maturities and distributions 0 0 0 0
Ending balance $ 6 $ 6 $ 6 $ 6
[1] Transfers into and out of Level 3 during the three and six months ended June 30, 2016 were attributable to changes in the availability of observable market information for individual fixed maturity securities. The Company’s policy is to recognize transfers into and transfers out of the levels as having occurred at the end of the reporting period in which the transfers were determined.
[2] Transfers into and out of Level 3 during the three and six months ended June 30, 2015 were attributable to changes in the availability of observable market information for individual fixed maturity securities. The Company’s policy is to recognize transfers into and transfers out of the levels as having occurred at the end of the reporting period in which the transfers were determined.
[3] Represents embedded derivatives, all related to the Company’s FIA products, reported in Other Policyholder Funds in the Company’s Consolidated Balance Sheets.
[4] Includes U.S. Government and federally sponsored agency obligations for mortgage-backed securities and other mortgage-backed securities.