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Fair Value Measurements (Tables)

9 Months Ended

Sep. 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
			September 30, 2021
			Level 1						Level 2						Level 3						Total
Available-For-Sale Debt Securities:
U.S. government obligations and agencies			$	—					$	37,116					$	—					$	37,116
Corporate bonds			—						634,492						—						634,492
Mortgage-backed and asset-backed securities			—						333,754						—						333,754
Municipal bonds			—						14,681						—						14,681
Redeemable preferred stock			—						9,114						—						9,114
Equity Securities:
Common stock			5,842						—						—						5,842
Mutual funds and other			71,257						—						—						71,257
Total assets accounted for at fair value			$	77,099					$	1,029,157					$	—					$	1,106,256

			Fair Value Measurements
			December 31, 2020
			Level 1						Level 2						Level 3						Total
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 stock			2,435						—						—						2,435
Mutual funds			82,452						—						—						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):

			September 30, 2021												December 31, 2020
			Carrying Value						(Level 3) Estimated Fair Value						Carrying Value						(Level 3) Estimated Fair Value
Liabilities (debt):
Surplus note			$	7,353					$	7,074					$	8,456					$	8,291

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- 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=123874694&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=123874694&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=123594938&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=123874694&loc=d3e19207-110258

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- References

No definition available.

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