Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2018

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 on a recurring basis as of the dates presented (in thousands):

	Fair Value Measurements
	March 31, 2018
	Level 1		Level 2		Level 3		Total
Available-For-Sale Debt Securities:
Fixed Maturities:
U.S. government obligations and agencies	$	—	$	58,797	$	—	$	58,797
Corporate bonds		—		298,730		—		298,730
Mortgage-backed and asset-backed securities		—		229,499		—		229,499
Municipal bonds		—		34,284		—		34,284
Redeemable preferred stock		—		12,928		—		12,928
Equity Securities:
Common stock		16,578		—		—		16,578
Mutual funds		49,465		—		—		49,465
Available-for-sale short-term investments		—		10,000		—		10,000
Total assets accounted for at fair value	$	66,043	$	644,238	$	—	$	710,281

	Fair Value Measurements
	December 31, 2017
	Level 1		Level 2		Level 3		Total
Available-For-Sale Debt Securities:
Fixed Maturities:
U.S. government obligations and agencies	$	—	$	59,604	$	—	$	59,604
Corporate bonds		—		227,504		—		227,504
Mortgage-backed and asset-backed securities		—		219,452		—		219,452
Municipal bonds		—		120,295		—		120,295
Redeemable preferred stock		—		12,479		—		12,479
Equity Securities:
Common stock		18,811		—		—		18,811
Mutual funds		43,404		—		—		43,404
Available-for-sale short-term investments		—		10,000		—		10,000
Total assets accounted for at fair value	$	62,215	$	649,334	$	—	$	711,549

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, 2018				December 31, 2017
			(Level 3)				(Level 3)
			Estimated Fair				Estimated Fair
	Carrying Value		Value		Carrying Value		Value
Liabilities (debt):
Surplus note	$	12,500	$	11,271	$	12,868	$	11,630