Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2016

Assets Measured 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
	March 31, 2016
	Level 1		Level 2		Level 3		Total
Fixed maturities:
U.S. government obligations and agencies	$	—	$	131,923	$	—	$	131,923
Corporate bonds		—		158,323		—		158,323
Mortgage-backed and asset-backed securities		—		183,522		—		183,522
Redeemable preferred stock		—		9,951		—		9,951
Other		—		5,006		—		5,006
Equity securities:
Common stock		119		—		—		119
Mutual funds		31,635		—		—		31,635
Short-term investments		—		12,505		—		12,505
Total assets accounted for at fair value	$	31,754	$	501,230	$	—	$	532,984

	Fair Value Measurements
	December 31, 2015
	Level 1		Level 2		Level 3		Total
Fixed maturities:
U.S. government obligations and agencies	$	—	$	125,342	$	—	$	125,342
Corporate bonds		—		125,517		—		125,517
Mortgage-backed and asset-backed securities		—		150,160		—		150,160
Redeemable preferred stock		—		10,065		—		10,065
Other		—		4,999		—		4,999
Equity securities:
Common stock		10,762		—		—		10,762
Mutual funds		31,452		—		—		31,452
Short-term investments		—		25,021		—		25,021
Total assets accounted for at fair value	$	42,214	$	441,104	$	—	$	483,318

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):

	March 31, 2016				December 31, 2015
			(Level 3)				(Level 3)
			Estimated Fair				Estimated Fair
	Carrying Value		Value		Carrying Value		Value
Liabilities (debt):
Surplus note	$	15,441	$	13,688	$	15,809	$	14,166
Term loan	$	6,946	$	6,946	$	6,851	$	6,851
Promissory note	$	690	$	690	$	1,390	$	1,390