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Investments (Tables)
 6 Months Ended
Jun. 30, 2023
Debt and Equity Securities, FV-NI  
Schedule of Available-for-sale Securities Reconciliation
The following table details fixed-maturity available-for-sale securities, by major investment category, at June 30, 2023 and December 31, 2022:
Cost or Adjusted/Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
June 30, 2023
U.S. government and agency securities$2,493 $— $100 $2,393 
Foreign government1,000 — 5 995 
States, municipalities and political subdivisions26,470 11 3,002 23,479 
Public utilities5,672 — 663 5,009 
Corporate securities72,088 — 10,318 61,770 
Mortgage-backed securities57,652 — 8,188 49,464 
Asset-backed securities19,671 — 1,918 17,753 
Total fixed maturities$185,046 $11 $24,194 $160,863 
December 31, 2022
U.S. government and agency securities$2,490 $— $105 $2,385 
Foreign government1,000 — 9 991 
States, municipalities and political subdivisions30,958 2 4,065 26,895 
Public utilities8,936 — 1,242 7,694 
Corporate securities99,062 20 15,739 83,343 
Mortgage-backed securities65,251 — 9,136 56,115 
Asset-backed securities30,038 9 2,788 27,259 
Total fixed maturities$237,735 $31 $33,084 $204,682 
Equity Securities Fair Value
Equity securities are summarized as follows:
June 30, 2023December 31, 2022
Estimated Fair ValuePercent of TotalEstimated Fair ValuePercent of Total
Mutual funds$— — %$15,657 100.0 %
Schedule of Realized Gain (Loss) The following table details our realized gains (losses) by major investment category for the three and six months ended June 30, 2023 and 2022, respectively:
20232022
Gains
(Losses)		Fair Value at SaleGains
(Losses)		Fair Value at Sale
Three Months Ended June 30,
Fixed maturities$55 $7,698 $23 $12,541 
Equity securities165 5,786 — — 
Short-term investments
— — — — 
Total realized gains220 13,484 23 12,541 
Fixed maturities(6,280)44,516 (100)1,010 
Equity securities(665)10,372 — — 
Short-term investments
— — — — 
Total realized losses(6,945)54,888 (100)1,010 
Net realized investment gains (losses)$(6,725)$68,372 $(77)$13,551 
Six Months Ended June 30,
Fixed maturities$59 $12,990 $64 $24,733 
Equity securities165 5,786 — — 
Short-term investments
— 126 — — 
Total realized gains224 18,902 64 24,733 
Fixed maturities(6,367)44,475 (104)1,261 
Equity securities(665)10,372 — — 
Short-term investments
— — — — 
Total realized losses(7,032)54,847 (104)1,261 
Net realized investment gains (losses)$(6,808)$73,749 $(40)$25,994 
Investments Classified by Contractual Maturity Date
The table below summarizes our fixed maturities at June 30, 2023 by contractual maturity periods. Actual results may differ as issuers may have the right to call or prepay obligations, with or without penalties, prior to the contractual maturities of those obligations.
June 30, 2023
Cost or Amortized CostPercent of TotalFair ValuePercent of Total
Due in one year or less$5,798 3.1 %$5,728 3.6 %
Due after one year through five years38,018 20.5 34,426 21.4 
Due after five years through ten years58,951 31.9 49,482 30.8 
Due after ten years4,956 2.7 4,010 2.5 
Asset and mortgage-backed securities77,323 41.8 67,217 41.7 
Total$185,046 100.0 %$160,863 100.0 %
Investment Income
The following table summarizes our net investment income by major investment category:

Three Months Ended
 June 30,		Six Months Ended
June 30,
2023202220232022
Fixed maturities$1,224 $1,583 $2,496 $3,014 
Equity securities— 62 81 128 
Cash and cash equivalents1,624 195 2,928 217 
Other investments(84)117 (78)172 
Investment income2,764 1,957 5,427 3,531 
Investment expenses(72)(118)(146)(288)
Net investment income$2,692 $1,839 $5,281 $3,243 
Schedule of Unrealized Loss on Investments
The following table presents an aging of our unrealized investment losses by investment class:

Less Than Twelve MonthsTwelve Months or More
Number of Securities(1)
Gross Unrealized LossesFair Value
Number of Securities(1)
Gross Unrealized LossesFair Value
June 30, 2023 
U.S. government and agency securities1 $7 $992 2 $93 $1,400 
Foreign governments1 5 995 — — — 
States, municipalities and political subdivisions7 52 3,412 42 2,950 19,323 
Public utilities— — — 12 663 5,008 
Corporate securities14 245 4,675 130 10,073 57,090 
Mortgage-backed securities5 135 1,744 118 8,053 47,719 
Asset-backed securities8 73 3,376 45 1,845 14,494 
Total fixed maturities36 $517 $15,194 349 $23,677 $145,034 
December 31, 2022
U.S. government and agency securities3 $105 $2,385 — $— $— 
Foreign governments1 9 991 — — — 
States, municipalities and political subdivisions21 540 7,306 31 3,525 18,853 
Public utilities8 193 2,286 4 1,049 5,408 
Corporate securities78 2,279 24,594 77 13,460 57,765 
Mortgage-backed securities48 1,282 15,259 80 7,854 40,856 
Asset-backed securities16 795 6,397 46 1,993 19,028 
Total fixed maturities175 $5,203 $59,218 238 $27,881 $141,910 
(1) This amount represents the actual number of discrete securities, not the number of shares or units of those securities. The numbers are not presented in thousands.
Schedule of Fair Value of Financial Instruments Measured on a Recurring Basis The following table presents the fair value of our financial instruments measured on a recurring basis by level at June 30, 2023 and December 31, 2022:
TotalLevel 1Level 2Level 3
June 30, 2023
U.S. government and agency securities$2,393 $— $2,393 $— 
Foreign government995 — 995 — 
States, municipalities and political subdivisions23,479 — 23,479 — 
Public utilities5,009 — 5,009 — 
Corporate securities61,770 — 61,770 — 
Mortgage-backed securities49,464 — 49,464 — 
Asset-backed securities17,753 — 17,753 — 
Total fixed maturities160,863 — 160,863 — 
Mutual funds— — — — 
Total equity securities— — — — 
Other investments (1)
116 — 116 — 
Total investments$160,979 $— $160,979 $— 
December 31, 2022
U.S. government and agency securities$2,385 $— $2,385 $— 
Foreign government991 — 991 — 
States, municipalities and political subdivisions26,895 — 26,895 — 
Public utilities7,694 — 7,694 — 
Corporate securities83,343 — 83,343 — 
Mortgage-backed securities56,115 — 56,115 — 
Asset-backed securities27,259 — 27,259 — 
Total fixed maturities204,682 — 204,682 — 
Mutual Funds15,657 15,657 — — 
Total equity securities15,657 15,657 — — 
Other investments (1)
125 — 125 — 
Total investments$220,464 $15,657 $204,807 $— 
(1) Other investments included in the fair value hierarchy exclude these limited partnership interests that are measured at estimated fair value using the net asset value per share (or its equivalent) practical expedient.
Schedule of Investments in Limited Partnerships
The information presented in the table below is as of June 30, 2023:

Book ValueUnrealized GainUnrealized LossFair Value
June 30, 2023
Limited partnership investments (1)
$3,286 $722 $541 $3,467 
Certificates of deposit— — — — 
 Short-term investments
117 — 1 116 
Total other investments$3,403 $722 $542 $3,583 
Restrictions on Cash and Cash Equivalents
The following table presents the components of restricted assets:
June 30, 2023December 31, 2022
Trust funds$48,874 $45,364 
Cash on deposit (regulatory deposits)627 624 
Total restricted cash$49,501 $45,988 
Securities Owned and Other Investments Not Readily Marketable Disclosure The table below shows the carrying value of those securities held on deposit with regulators.
June 30, 2023December 31, 2022
Invested assets on deposit (regulatory deposits)$2,493 $2,616