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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2019
Fair Value Disclosures [Abstract] |
Fair Value Measurements for Investments in Available-for-Sale Fixed Maturity and Equity Securities | The following table presents our fair value measurements for our investments in available-for-sale fixed maturity and equity securities at December 31, 2019:
|  | Fair Value Measurements Using |
|  | Fair Value |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
|  | (in thousands) |
U.S. Treasury securities and obligations of U.S. government corporations and agencies |  | $ | 19,364,459 |  |  | $ | — |  |  | $ | 19,364,459 |  |  | $ | — |
Obligations of states and political subdivisions |  |  | 56,796,288 |  |  |  | — |  |  |  | 56,796,288 |  |  |  | — |
Corporate securities |  |  | 159,243,309 |  |  |  | — |  |  |  | 159,243,309 |  |  |  | — |
Mortgage-backed securities |  |  | 329,547,747 |  |  |  | — |  |  |  | 329,547,747 |  |  |  | — |
Equity securities |  |  | 55,477,556 |  |  |  | 53,124,368 |  |  |  | 2,353,188 |  |  |  | — |
Total investments in the fair value hierarchy |  | $ | 620,429,359 |  |  | $ | 53,124,368 |  |  | $ | 567,304,991 |  |  | $ | — |
The following table presents our fair value measurements for our investments in available-for-sale fixed maturity and equity securities at December 31, 201 8 :
|  | Fair Value Measurements Using |
|  | Fair Value |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
U.S. Treasury securities and obligations of U.S. government corporations and agencies |  | $ | 44,209,929 |  |  | $ | — |  |  | $ | 44,209,929 |  |  | $ | — |
Obligations of states and political subdivisions |  |  | 75,215,969 |  |  |  | — |  |  |  | 75,215,969 |  |  |  | — |
Corporate securities |  |  | 137,833,145 |  |  |  | — |  |  |  | 137,833,145 |  |  |  | — |
Mortgage-backed securities |  |  | 269,299,261 |  |  |  | — |  |  |  | 269,299,261 |  |  |  | — |
Equity securities |  |  | 30,674,835 |  |  |  | 28,351,110 |  |  |  | 2,323,725 |  |  |  | — |
Total investments in the fair value hierarchy |  |  | 557,233,139 |  |  |  | 28,351,110 |  |  |  | 528,882,029 |  |  |  | — |
Investment measured at net asset value |  |  | 12,992,174 |  |  |  | — |  |  |  | — |  |  |  | — |
Totals |  | $ | 570,225,313 |  |  | $ | 28,351,110 |  |  | $ | 528,882,029 |  |  | $ | — |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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://www.xbrl.org/2003/role/disclosureRef -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://www.xbrl.org/2003/role/disclosureRef -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 + Details
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