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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2021
Fair Value Disclosures [Abstract]  
Schedule of 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
June 30, 2021
 Level 1Level 2Level 3Total
Available-For-Sale Debt Securities:    
  U.S. government obligations and agencies$— $37,154 $— $37,154 
  Corporate bonds— 543,266 — 543,266 
  Mortgage-backed and asset-backed securities— 318,091 — 318,091 
  Municipal bonds— 14,761 — 14,761 
  Redeemable preferred stock— 8,528 — 8,528 
Equity Securities:
  Common stock7,767 — — 7,767 
  Mutual funds and other87,923 — — 87,923 
Total assets accounted for at fair value$95,690 $921,800 $— $1,017,490 
Fair Value Measurements
December 31, 2020
Level 1Level 2Level 3Total
Available-For-Sale Debt Securities:
  U.S. government obligations and agencies$— $59,631 $— $59,631 
  Corporate bonds— 419,844 — 419,844 
  Mortgage-backed and asset-backed securities— 319,937 — 319,937 
  Municipal bonds— 12,128 — 12,128 
  Redeemable preferred stock— 8,321 — 8,321 
Equity Securities:
  Common stock2,435 — — 2,435 
  Mutual funds82,452 — — 82,452 
Total assets accounted for at fair value$84,887 $819,861 $— $904,748 
Schedule of 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):
June 30, 2021December 31, 2020
Carrying Value(Level 3)
Estimated Fair Value
Carrying Value(Level 3)
Estimated Fair Value
Liabilities (debt):
   Surplus note$7,721 $7,367 $8,456 $8,291