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Investments (Tables)
 9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule 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):
September 30, 2024
Amortized
Cost		Allowance for Expected Credit LossesGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
Debt Securities:
  U.S. government obligations and agencies$20,209 $— $226 $(332)$20,103 
  Corporate bonds905,947 (459)5,671 (41,896)869,263 
  Mortgage-backed and asset-backed securities385,871 — 2,708 (24,830)363,749 
  Municipal bonds15,891 (1)10 (1,282)14,618 
  Redeemable preferred stock9,479 (98)25 (407)8,999 
Total$1,337,397 $(558)$8,640 $(68,747)$1,276,732 
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 
Schedule of Credit Quality of Investment 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):
September 30, 2024December 31, 2023
Average Credit RatingsFair Value% of Total
 Fair Value		Fair Value% of Total
 Fair Value
AAA$385,954 30.2 %$333,516 31.3 %
AA143,512 11.2 %128,249 12.0 %
A430,319 33.7 %356,090 33.5 %
BBB311,096 24.4 %245,823 23.1 %
No Rating Available5,851 0.5 %652 0.1 %
   Total$1,276,732 100.0 %$1,064,330 100.0 %
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):
September 30, 2024December 31, 2023
Amortized
Cost		Fair ValueAmortized
Cost		Fair Value
Mortgage-backed securities:
Agency$190,218 $174,065 $165,507 $145,686 
Non-agency57,234 51,351 63,729 55,102 
Asset-backed securities:
Auto loan receivables62,783 63,208 53,686 52,869 
Credit card receivables9,673 9,789 3,414 3,428 
Other receivables65,963 65,336 48,124 46,061 
Total$385,871 $363,749 $334,460 $303,146 
Schedule of Fair Value and Gross Unrealized Losses on Securities Available for Sale
The following tables summarize available-for-sale debt securities, aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position, for which no allowance for expected credit losses has been recorded as of the dates presented (in thousands):
September 30, 2024
Less Than 12 Months12 Months or Longer
Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses
Debt Securities:
U.S. government obligations and agencies$— $— $2,774 $(332)
Corporate bonds30,149 (159)326,540 (24,410)
Mortgage-backed and asset-backed securities26,770 (480)189,663 (24,350)
Municipal bonds291 (3)9,467 (961)
Redeemable preferred stock— — 1,120 (90)
Total$57,210 $(642)$529,564 $(50,143)
December 31, 2023
Less Than 12 Months12 Months or Longer
Fair ValueUnrealized
Losses		Fair ValueUnrealized
Losses
Debt Securities:
U.S. government obligations and agencies$9,045 $(108)$6,811 $(569)
Corporate bonds1,387 (9)365,893 (37,088)
Mortgage-backed and asset-backed securities18,150 (316)216,220 (31,967)
Municipal bonds293 (1)7,010 (1,069)
Redeemable preferred stock529 (30)1,052 (158)
Total$29,404 $(464)$596,986 $(70,851)
Schedule of 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, 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 
Provision for (or reversal of) credit loss expense(10)(3)5 (8)
Balance, September 30, 2024
$459 $1 $98 $558 
Schedule 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):
September 30, 2024
Amortized CostFair Value
Due in one year or less$130,132 $128,433 
Due after one year through five years733,539 714,587 
Due after five years through ten years439,295 402,889 
Due after ten years30,833 27,319 
Perpetual maturity securities3,598 3,504 
Total$1,337,397 $1,276,732 
Schedule of Securities Available for Sale
The following table provides certain information related to available-for-sale debt securities and equity securities during the periods presented (in thousands):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Proceeds from sales and maturities (fair value):
  Available-for-sale debt securities $73,568 $34,934 $138,833 $81,661 
  Equity securities$1,624 $5,597 $12,576 $42,830 
Gross realized gains on sale of securities:
  Available-for-sale debt securities $118 $29 $703 $34 
  Equity securities$334 $18 $1,128 $1,570 
Gross realized losses on sale of securities:
  Available-for-sale debt securities$(918)$(39)$(1,499)$(766)
  Equity securities $(680)$(439)$(1,866)$(1,175)
Schedule 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):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Available-for-sale debt securities$9,430 $6,325 $25,034 $18,122 
Equity securities864 953 2,600 2,874 
Cash and cash equivalents (1)5,689 5,961 17,397 15,113 
Other (2)86 127 413 395 
  Total investment income16,069 13,366 45,444 36,504 
Less: Investment expenses (3)(663)(611)(1,855)(1,769)
  Net investment income$15,406 $12,755 $43,589 $34,735 
(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.
Schedule of Details on Unrealized Gains and Losses Related to Equity Securities
The following table provides the unrealized gains and (losses) recognized for the periods presented on equity securities still held at the end of the reported period (in thousands):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Unrealized gains (losses) recognized during the reported period on equity securities still held at the end of the reported period$5,078 $(1,129)$8,963 $(831)
Schedule of Real Estate Investment
Investment real estate consisted of the following as of the dates presented (in thousands):
September 30,December 31,
20242023
Income Producing:
Investment real estate$7,332 $7,097 
Less: Accumulated depreciation(1,714)(1,572)
Investment real estate, net$5,618 $5,525 
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):
Three Months Ended
September 30,		Nine Months Ended
September 30,
 2024202320242023
Depreciation expense on investment real estate$49 $46 $142 $139 
Schedule of Other Investments
Other investments consisted of the following as of the dates presented (in thousands):
September 30,December 31,
20242023
Investment in private equity limited partnership
$12,248 $10,434 
Schedule of Unrealized Gain Losses Recognized as Presented in Equity Investment Limited Partnership
The following table provides the unrealized gains recognized for the periods presented on investment in private equity limited partnership still held at the end of the reported period (in thousands):
Three Months Ended
September 30,		Nine Months Ended
September 30,
20242024
Unrealized gains (losses) recognized during the reported period on investment in private equity limited partnership still held at the end of the reported period$1,814 $1,814