Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2017

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
	September 30, 2017
	Level 1		Level 2		Level 3		Total
Fixed Maturities:
U.S. government obligations and agencies	$	—	$	55,016	$	—	$	55,016
Corporate bonds		—		215,831		—		215,831
Mortgage-backed and asset-backed securities		—		218,098		—		218,098
Municipal bonds		—		106,290		—		106,290
Redeemable preferred stock		—		13,944		—		13,944
Equity Securities:
Common stock		5,683		—		—		5,683
Mutual funds		20,392		—		—		20,392
Total assets accounted for at fair value	$	26,075	$	609,179	$	—	$	635,254

	Fair Value Measurements
	December 31, 2016
	Level 1		Level 2		Level 3		Total
Fixed Maturities:
U.S. government obligations and agencies	$	—	$	74,267	$	—	$	74,267
Corporate bonds		—		191,430		—		191,430
Mortgage-backed and asset-backed securities		—		214,776		—		214,776
Municipal bonds		—		91,197		—		91,197
Redeemable preferred stock		—		12,691		—		12,691
Equity Securities:
Common stock		93		—		—		93
Mutual funds		50,710		—		—		50,710
Short-term investments		—		5,002		—		5,002
Total assets accounted for at fair value	$	50,803	$	589,363	$	—	$	640,166

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, 2017				December 31, 2016
			(Level 3)				(Level 3)
			Estimated Fair				Estimated Fair
	Carrying Value		Value		Carrying Value		Value
Liabilities (debt):
Surplus note	$	13,235	$	11,949	$	14,338	$	13,282
Promissory note	$	—	$	—	$	690	$	690