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Fair Value Measurements (Tables)

9 Months Ended

Sep. 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 measured at fair value including those on a recurring basis as of the dates presented (in thousands):

	Fair Value Measurements
	September 30, 2014
	Level 1				Level 2				Level 3				Total
Cash and cash equivalents	$	170,352			$	—			$	—			$	170,352
Restricted cash and cash equivalents		6,597				—				—				6,597
Fixed maturities:
U.S. government obligations and agencies		—				116,083				—				116,083
Corporate bonds		—				109,837				—				109,837
Mortgage-backed and asset-backed securities		—				95,238				—				95,238
Redeemable preferred stock		—				6,852				—				6,852
Equity securities:
Common stock		250				—				—				250
Mutual funds		20,137				—				—				20,137
Short-term investments		12,500				24,973				—				37,473
Total investments		32,887				352,983				—				385,870
Total assets accounted for at fair value	$	209,836			$	352,983			$	—			$	562,819

	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):

	September 30, 2014								December 31, 2013
					(Level 3)								(Level 3)
					Estimated Fair								Estimated Fair
	Carrying Value				Value				Carrying Value				Value
Liabilities (debt):
Surplus note	$	17,647			$	15,188			$	18,750			$	15,900
Term loan	$	13,149			$	13,149			$	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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- 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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