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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

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

	Fair Value Measurements
	September 30, 2019
	Level 1				Level 2				Level 3				Total
Available-For-Sale Debt Securities:
U.S. government obligations and agencies	$	—			$	72,586			$	—			$	72,586
Corporate bonds	—				469,298				—				469,298
Mortgage-backed and asset-backed securities	—				321,134				—				321,134
Municipal bonds	—				3,542				—				3,542
Redeemable preferred stock	—				12,007				—				12,007
Equity Securities:
Common stock	2,678				—				—				2,678
Mutual funds	40,463				—				—				40,463
Total assets accounted for at fair value	$	43,141			$	878,567			$	—			$	921,708

	Fair Value Measurements
	December 31, 2018
	Level 1				Level 2				Level 3				Total
Available-For-Sale Debt Securities:
U.S. government obligations and agencies	$	—			$	66,637			$	—			$	66,637
Corporate bonds	—				428,865				—				428,865
Mortgage-backed and asset-backed securities	—				309,597				—				309,597
Municipal bonds	—				3,362				—				3,362
Redeemable preferred stock	—				11,977				—				11,977
Equity Securities:
Common stock	15,564				—				—				15,564
Mutual funds	47,713				—				—				47,713
Total assets accounted for at fair value	$	63,277			$	820,438			$	—			$	883,715

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 not carried at fair value as of the dates presented (in thousands):

	September 30, 2019								December 31, 2018
	Carrying Value				(Level 3) Estimated Fair Value				Carrying Value				(Level 3) Estimated Fair Value
Liabilities (debt):
Surplus note	$	10,294			$	9,584			$	11,397			$	10,125

X

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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- References

No definition available.

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