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Fair Value Measurements (Tables)

12 Months Ended

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, 2018:

		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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- References

No definition available.

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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

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