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Investments (Tables)
 12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Summary of Cost or Amortized Cost and Fair Value of Securities Available for Sale
The following table provides the amortized cost and fair value of available-for-sale debt securities as of the dates presented (in thousands):
December 31, 2023
Amortized
Cost		Allowance for Expected Credit LossesGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
Debt Securities:
U.S. government obligations and agencies$23,886 $— $49 $(677)$23,258 
Corporate bonds779,177 (469)1,097 (64,091)715,714 
Mortgage-backed and asset-backed securities334,460 — 969 (32,283)303,146 
Municipal bonds15,916 (4)— (1,873)14,039 
Redeemable preferred stock9,480 (93)— (1,214)8,173 
Total$1,162,919 $(566)$2,115 $(100,138)$1,064,330 
December 31, 2022
Amortized
Cost		Allowance for Expected Credit LossesGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
Debt Securities:
U.S. government obligations and agencies$12,602 $— $— $(938)$11,664 
Corporate bonds788,737 (729)130 (93,077)695,061 
Mortgage-backed and asset-backed securities327,166 — 148 (39,707)287,607 
Municipal bonds14,924 (2)— (2,551)12,371 
Redeemable preferred stock9,423 (189)— (1,311)7,923 
Total$1,152,852 $(920)$278 $(137,584)$1,014,626 
Schedule of Credit Quality of Investment Securities With Contractual Maturities or The Issuer of Such Securities
The following table provides the credit quality of available-for-sale debt securities with contractual maturities as of the dates presented (dollars in thousands):
December 31, 2023December 31, 2022
% of Total% of Total
Average Credit RatingsFair ValueFair ValueFair ValueFair Value
AAA$333,516 31.3 %$297,475 29.3 %
AA128,249 12.0 %154,975 15.3 %
A356,090 33.5 %327,427 32.3 %
BBB245,823 23.1 %232,316 22.9 %
No Rating Available652 0.1 %2,433 0.2 %
Total$1,064,330 100.0 %$1,014,626 100.0 %
Schedule of Amortized Cost and Fair Value on Mortgage-Backed and Asset-Backed Securities
The following table summarizes the amortized cost and fair value of mortgage-backed and asset-backed securities as of the dates presented (in thousands):
December 31, 2023December 31, 2022
Amortized
Cost		Fair ValueAmortized
Cost		Fair Value
Mortgage-backed securities:
Agency$165,507 $145,686 $157,672 $133,928 
Non-agency63,729 55,102 60,328 50,478 
Asset-backed securities:
Auto loan receivables53,686 52,869 62,128 59,370 
Credit card receivables3,414 3,428 657 612 
Other receivables48,124 46,061 46,381 43,219 
Total$334,460 $303,146 $327,166 $287,607 
Summarized Fair Value and Gross Unrealized Losses on Securities Available for Sale
The following tables summarize available-for-sale debt securities, aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position, for which no allowance for expected credit losses has been recorded as of the dates presented (in thousands):
December 31, 2023
Less Than 12 Months12 Months or Longer
Number of
Issues		Fair ValueUnrealized
Losses		Number of
Issues		Fair ValueUnrealized
Losses
Debt Securities:
U.S. government obligations and agencies3 $9,045 $(108)5 $6,811 $(569)
Corporate bonds12 1,387 (9)287 365,893 (37,088)
Mortgage-backed and asset-backed securities18 18,150 (316)173 216,220 (31,967)
Municipal bonds1 293 (1)3 7,010 (1,069)
Redeemable preferred stock1 529 (30)3 1,052 (158)
Total35 $29,404 $(464)471 $596,986 $(70,851)
December 31, 2022
Less Than 12 Months12 Months or Longer
Number of
Issues		Fair ValueUnrealized
Losses		Number of
Issues		Fair ValueUnrealized
Losses
Debt Securities:
U.S. government obligations and agencies2 $2,721 $(110)5 $8,943 $(828)
Corporate bonds40 26,563 (2,910)247 325,992 (46,451)
Mortgage-backed and asset-backed securities64 52,751 (2,974)146 219,189 (36,733)
Municipal bonds— — — 3 6,621 (1,458)
Redeemable preferred stock1 95 (51)— — — 
Total107 $82,130 $(6,045)401 $560,745 $(85,470)
Summary f Debt Securities, Available-for-sale, Allowance for Credit Loss
The following table presents a reconciliation of the beginning and ending balances for expected credit losses on available-for-sale debt securities (in thousands):
Corporate BondsMunicipal BondsRedeemable
 Preferred Stock		Total
Balance, December 31, 2021
$371 $1 $117 $489 
Provision for (or reversal of) credit loss expense358 1 72 431 
Balance, December 31, 2022
729 2 189 920 
Provision for (or reversal of) credit loss expense(260)2 (96)(354)
Balance, December 31, 2023
$469 $4 $93 $566 
Summary of Amortized Cost and Fair Value of Investments With Contractual Maturities
The following table presents the amortized cost and fair value of investments with maturities as of the date presented (in thousands): 
December 31, 2023
Amortized CostFair Value
Due in one year or less$92,428 $91,247 
Due after one year through five years616,178 578,304 
Due after five years through ten years426,700 371,982 
Due after ten years24,111 19,784 
Perpetual maturity securities3,502 3,013 
Total$1,162,919 $1,064,330 
Summary of Securities Available for Sale
The following table provides certain information related to available-for-sale debt securities, equity securities and investment real estate during the periods presented (in thousands):
Years Ended December 31,
202320222021
Proceeds from sales and maturities (fair value):
Available-for-sale debt securities
$128,304 $98,409 $186,507 
Equity securities$45,095 $34,178 $85,103 
Gross realized gains on sale of securities:
Available-for-sale debt securities
$36 $242 $2,649 
Equity securities$1,744 $2,240 $3,005 
Gross realized losses on sale of securities:
Available-for-sale debt securities$(1,527)$(2,060)$(2,434)
Equity securities$(1,482)$(74)$(208)
Realized gains on sales of investment real estate (1)
$— $— $401 
(1)
During the year ended December 31, 2021 the Company completed the sale of a non-income producing investment real estate property. The Company received net cash proceeds of approximately $2.6 million and recognized a pre-tax gain of approximately $0.4 million that is included in net realized gains (losses) on investments in the Consolidated Statements of Income for the year ended December 31, 2021 This investment real estate property was not previously reported under assets held for sale since it was actively marketed and sold within the first quarter of 2021.
Summary of Investment Income (Expense) Comprised Primarily of Interest and Dividends
The following table presents the components of net investment income, comprised primarily of interest and dividends for the periods presented (in thousands):
Years Ended December 31,
202320222021
Available-for-sale debt securities$24,793 $18,699 $11,926 
Equity securities4,019 3,288 2,651 
Cash and cash equivalents (1)21,448 5,945 51 
Other (2)523 492 928 
Total investment income50,783 28,424 15,556 
Less: Investment expenses (3)(2,334)(2,639)(3,021)
Net investment income$48,449 $25,785 $12,535 
(1)Includes interest earned on restricted cash and cash equivalents.
(2)Includes investment income earned on real estate investments.
(3)Includes custodial fees, investment accounting and advisory fees, and expenses associated with real estate investments.
Summary of Details on Realized and Unrealized Gains and Losses Related to Equity Securities
The following table provides the unrealized gains (losses) recognized for the periods presented on equity securities still held at the end of the reported period (in thousands):
Years Ended December 31,
202320222021
Unrealized gains (losses) recognized during the reported period
   on equity securities still held at the end of the reported period		$3,723 $(13,197)$(3,459)
Schedule of Real Estate Investment
Investment real estate consisted of the following as of the dates presented (in thousands):
As of December 31,
20232022
Income Producing:
Investment real estate$7,097 $7,097 
Less: Accumulated depreciation(1,572)(1,386)
Investment real estate, net$5,525 $5,711 
Schedule of Depreciation Expense Related to Investment Real Estate
The following table provides the depreciation expense related to investment real estate for the periods presented (in thousands):
Years Ended December 31,
202320222021
Depreciation expense on investment real estate$186 $186 $186 
Schedule of Other Investments
Other investments consisted of the following as of the dates presented (in thousands):
As of December 31,
20232022
Investment in private equity limited partnership
$10,434 $— 
Summary Of Unrealized Gain Losses Recognized As Presented in Equity Investment Limited Partnership
The following table provides the unrealized gains (losses) recognized for the periods presented on investment in private equity limited partnership still held at the end of the reported period (in thousands):
As of December 31,
20232022
Unrealized gains (losses) recognized during the reported period on investment in private equity limited partnership still held at the end of the reported period$5,640 $—