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Investments (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Fair Value of Equity Securities

The following table details fixed maturity available-for-sale securities, by major investment category, at December 31, 2023 and 2022:

			Cost or Adjusted/Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
December 31, 2023
U.S. government and agency securities			$	27,489					$	11					$	68					$	27,432
States, municipalities and political subdivisions			26,336						9						2,480						23,865
Public utilities			5,645						—						511						5,134
Corporate securities			70,197						20						8,368						61,849
Mortgage-backed securities			53,619						—						7,309						46,310
Asset-backed securities			17,665						9						1,561						16,113
Total fixed maturities			$	200,951					$	49					$	20,297					$	180,703
December 31, 2022
U.S. government and agency securities			$	2,490					$	—					$	105					$	2,385
Foreign government			1,000						—						9						991
States, municipalities and political subdivisions			30,958						2						4,065						26,895
Public utilities			8,936						—						1,242						7,694
Corporate securities			99,062						20						15,739						83,343
Mortgage-backed securities			65,251						—						9,136						56,115
Asset-backed securities			30,038						9						2,788						27,259
Total fixed maturities			$	237,735					$	31					$	33,084					$	204,682

Equity securities are summarized as follows at:

						December 31, 2023												December 31, 2022
						Estimated Fair Value						Percent of Total						Estimated Fair Value						Percent of Total
Mutual funds						$	—					—		%				$	15,657					100.0		%
Total equity securities						$	—					—		%				$	15,657					100.0		%

Schedule of Realized Gain (Loss)

The following table details our realized gains (losses) by major investment category for the years ended December 31, 2023, 2022 and 2021:

			2023												2022												2021
			Gains (Losses)						Fair Value at Sale (1)						Gains (Losses)						Fair Value at Sale (1)						Gains (Losses)						Fair Value at Sale (1)
Fixed maturities			$	59					$	22,011					$	134					$	38,268					$	243					$	74,007
Equity securities			165						5,786						—						—						—						—
Short-term investments			—						126						—						—						—						4,675
Other investments			3						1,151						—						—						—						—
Total realized gains			227						29,074						134						38,268						243						78,682
Fixed maturities			(6,370)						45,035						(6,617)						88,033						(105)						7,658
Equity securities			(665)						10,372						—						—						—						56
Total realized losses			(7,035)						55,407						(6,617)						88,033						(105)						7,714
Net realized investment gains (losses)			$	(6,808)					$	84,481					$	(6,483)					$	126,301					$	138					$	86,396

(1) Fair Value at sale includes maturities and paydowns executed at par value.

Investments Classified by Contractual Maturity Date

The table below summarizes our fixed maturities at December 31, 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.

			December 31, 2023
			Cost or Amortized Cost						Percent of Total						Fair Value						Percent of Total
Due in one year or less			$	7,275					3.6		%				$	7,194					4.0		%
Due after one year through five years			63,930						31.8		%				60,795						33.6		%
Due after five years through ten years			53,591						26.7		%				46,295						25.6		%
Due after ten years			4,871						2.4		%				3,996						2.2		%
Asset and mortgage-backed securities			71,284						35.5		%				62,423						34.6		%
Total			$	200,951					100.0		%				$	180,703					100.0		%

Investment Income

The following table summarizes our net investment income by major investment category:

			Year Ended December 31,
			2023						2022						2021
Fixed maturities			$	4,581					$	6,164					$	6,069
Equity securities			81						305						131
Cash and cash equivalents			6,232						1,488						31
Other investments			(68)			63			214						275
Investment income			10,826						8,171						6,506
Investment expenses			(252)						(498)						(605)
Net investment income			$	10,574					$	7,673					$	5,901

Schedule of Unrealized Loss on Investments

The following table presents an aging of our unrealized investment losses by investment class:

			Less Than Twelve Months																		Twelve Months or More
			Number of Securities(1)						Gross Unrealized Losses						Fair Value						Number of Securities(1)						Gross Unrealized Losses						Fair Value
December 31, 2023
U.S. government and agency securities			9						$	14					$	19,943					2						$	54					$	1,430
States, municipalities and political subdivisions			4						12						2,052						44						2,468						20,571
Public utilities			—						—						—						12						511						5,134
Corporate securities			3						27						1,255						133						8,341						59,419
Mortgage-backed securities			2						14						807						117						7,295						45,502
Asset backed securities			4						6						1,354						43						1,555						14,074
Total fixed maturities			22						$	73					$	25,411					351						$	20,224					$	146,130
December 31, 2022
U.S. government and agency securities			3						$	105					$	2,385					—						$	—					$	—
Foreign governments			1						9						991						—						—						—
States, municipalities and political subdivisions			21						540						7,306						31						3,525						18,853
Public utilities			8						193						2,286						4						1,049						5,408
Corporate securities			78						2,279						24,594						77						13,460						57,765
Mortgage-backed securities			48						1,282						15,259						80						7,854						40,856
Asset-backed securities			16						795						6,397						46						1,993						19,028
Total fixed maturities			175						$	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 December 31, 2023 and 2022:

			Total						Level 1						Level 2						Level 3
December 31, 2023
U.S. government and agency securities			$	27,432					$	—					$	27,432					$	—
States, municipalities and political subdivisions			23,865						—						23,865						—
Public utilities			5,134						—						5,134						—
Corporate securities			61,849						—						61,849						—
Mortgage-backed securities			46,310						—						46,310						—
Asset-backed securities			16,113						—						16,113						—
Total fixed maturities			180,703						—						180,703						—
Other investments (1)			14,004						—						14,004						—
Total investments			$	194,707					$	—					$	194,707					$	—
December 31, 2022
U.S. government and agency securities			$	2,385					$	—					$	2,385					$	—
Foreign government			991						—						991						—
States, municipalities and political subdivisions			26,895						—						26,895						—
Public utilities			7,694						—						7,694						—
Corporate securities			83,343						—						83,343						—
Mortgage-backed securities			56,115						—						56,115						—
Asset-backed securities			27,259						—						27,259						—
Total fixed maturities			204,682						—						204,682						—
Mutual Funds			15,657						15,657						—						—
Total equity securities			15,657						15,657						—						—
Other investments (1)			125						—						125						—
Total investments			$	220,464					$	15,657					$	204,807					$	—

(1) Other long-term investments included in the fair value hierarchy exclude these other limited partnership interests that are measured at estimated fair value using the net asset value per share (or its equivalent) practical expedient.

Schedule of Fair Value of Financial Instruments with Unobservable Inputs

The information presented in the table below is as of December 31, 2023 and 2022:

						Book Value						Unrealized Gain						Unrealized Loss						Fair Value
December 31, 2023
Limited partnership investments (1)						$	2,104					$	379					$	—					$	2,483
Short-term investments						14,014						1						11						14,004
Total other investments						$	16,118					$	380					$	11					$	16,487
December 31, 2022
Limited partnership investments (1)						$	2,946					$	604					$	—					$	3,550
Short-term investments						126						—						1						125
Total other investments						$	3,072					$	604					$	1					$	3,675

(1) Distributions will be generated from investment gains, from operating income, from underlying investments of the funds, and from liquidation of the underlying assets of the funds. We estimate that the underlying assets of the funds will be liquidated over the next few months to five years.

Restrictions on Cash and Cash Equivalents

The following table presents the components of restricted assets:

			December 31,
			2023						2022
Trust funds			$	17,439					$	45,364
Cash on deposit (regulatory deposits)			631						624
Total restricted cash			$	18,070					$	45,988

Securities on deposit

The table below shows the carrying value of those securities held on deposit with regulators.

			December 31,
			2023						2022
Invested assets on deposit (regulatory deposits)			$	1,495					$	2,616

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