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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2014

Fair Value Disclosures [Abstract]

Assets Accounted for at Fair Value on Recurring Basis

The following tables set forth by level within the fair value hierarchy the Company’s assets that were accounted for at fair value on a recurring basis as of the dates presented (in thousands):

		Fair Value Measurements June 30, 2014
		Level 1				Level 2				Level 3				Total
Cash and cash equivalents		$	201,357			$	—			$	—			$	201,357
Restricted cash and cash equivalents			2,635				—				—				2,635
Fixed maturities:
U.S. government obligations and agencies			—				116,422				—				116,422
Corporate bonds			—				106,745				—				106,745
Mortgage-backed and asset-backed securities			—				94,908				—				94,908
Redeemable preferred stock			—				5,070				—				5,070
Equity securities:
Common stock			590				—				—				590
Mutual funds			11,830				—				—				11,830
Total investments		$	12,420			$	323,145			$	—			$	335,565
Total assets accounted for at fair value		$	216,412			$	323,145			$	—			$	539,557
		Fair Value Measurements December 31, 2013
		Level 1				Level 2				Level 3				Total
Cash and cash equivalents		$	117,275			$	—			$	—			$	117,275
Restricted cash and cash equivalents			2,600				—				—				2,600
Fixed maturities:
U.S. government obligations and agencies			—				104,215				—				104,215
Corporate bonds			—				94,203				—				94,203
Mortgage-backed and asset-backed securities			—				91,000				—				91,000
Equity securities:
Common stock			9,295				—				—				9,295
Mutual funds			55,727				—				—				55,727
Total investments		$	65,022			$	289,418			$	—			$	354,440
Total assets accounted for at fair value		$	184,897			$	289,418			$	—			$	474,315

Summarizes Carrying Value and Estimated Fair Values of Financial Instruments not Carried at Fair Value

The following table summarizes the carrying value and estimated fair values of the Company’s financial instruments that are not carried at fair value as of the dates presented (in thousands):

		June 30, 2014								December 31, 2013
		Carrying value				(Level 3) Estimated Fair Value				Carrying value				(Level 3) Estimated Fair Value
Liabilities (debt):
Surplus note		$	18,015			$	15,289			$	18,750			$	15,900
Term loan		$	12,969			$	12,969			$	18,490			$	18,490

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (a),(b)

-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258

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X

- Definition

Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

+ References

No definition available.

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