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Investments (Tables)
6 Months Ended
Jun. 30, 2024
Investments [Abstract]  
Schedule of Amortized Cost and Estimated Fair Value of Fixed Income Securities for Continuing and Discontinued Operations The amortized cost and estimated fair value of fixed income securities, presented on a consolidated basis, including both continuing and discontinued operations, as of June 30, 2024, and December 31, 2023, were as follows:
   June 30, 2024 
   Cost or
Amortized
Cost
   Allowance for
Expected
Credit Losses
   Gross
Unrealized
Gains
   Gross
Unrealized
Losses
   Fair Value 
Fixed income securities:                         
U.S. Government and agencies  $12,075   $
   $21   $(355)  $11,741 
Obligations of states and political subdivisions   56,568    
    191    (4,897)   51,862 
Corporate securities   125,282    
    138    (8,980)   116,440 
Residential mortgage-backed securities   48,926    
    38    (5,061)   43,903 
Commercial mortgage-backed securities   28,301    
    61    (3,324)   25,038 
Asset-backed securities   54,596    
    236    (3,699)   51,133 
Redeemable preferred stocks   3,738    
    
    (440)   3,298 
Total fixed income securities  $329,486   $
   $685   $(26,756)  $303,415 
   December 31, 2023 
   Cost or
Amortized
Cost
   Allowance for
Expected
Credit Losses
   Gross
Unrealized
Gains
   Gross
Unrealized
Losses
   Fair Value 
Fixed income securities:                         
U.S. Government and agencies  $10,998   $
   $
   $(736)  $10,262 
Obligations of states and political subdivisions   55,769    
    408    (4,716)   51,461 
Corporate securities   152,630    
    442    (10,856)   142,216 
Residential mortgage-backed securities   66,362    
    180    (5,379)   61,163 
Commercial mortgage-backed securities   33,532    
    148    (4,241)   29,439 
Asset-backed securities   52,692    
    142    (3,805)   49,029 
Redeemable preferred stocks   4,747    
    
    (586)   4,161 
Total fixed income securities  $376,730   $
   $1,320   $(30,319)  $347,731 

  

Schedule of Amortized Cost and Estimated Fair Value of Fixed Income Securities for Continuing and Discontinued Operations The reconciliation of the amortized cost and estimated fair value of fixed income securities for continuing and discontinued operations as of June 30, 2024, and December 31, 2023, were as follows:
   June 30, 2024 
   Cost or
Amortized
Cost
   Allowance for
Expected
Credit Losses
   Gross
Unrealized
Gains
   Gross
Unrealized
Losses
   Fair Value 
Fixed income securities:                         
Continuing operations  $329,486   $
   $685   $(26,756)  $303,415 
Discontinued operations   
    
    
    
    
 
Total fixed income securities  $329,486   $
   $685   $(26,756)  $303,415 
   December 31, 2023 
   Cost or
Amortized
Cost
   Allowance for
Expected
Credit Losses
   Gross
Unrealized
Gains
   Gross
Unrealized
Losses
   Fair Value 
Fixed income securities:                         
Continuing operations  $313,182   $
   $1,116   $(24,899)  $289,399 
Discontinued operations   63,548    
    204    (5,420)   58,332 
Total fixed income securities  $376,730   $
   $1,320   $(30,319)  $347,731 
Schedule of Contractual Maturity The amortized cost and estimated fair value of fixed income securities by contractual maturity, presented on a consolidated basis, including both continuing and discontinued operations, are shown below. Actual maturities could differ from contractual maturities because issuers may have the right to call or prepay these securities.
   June 30, 2024 
   Amortized Cost   Fair Value 
Due to mature:          
One year or less  $12,663   $12,454 
After one year through five years   64,545    61,560 
After five years through ten years   72,035    65,882 
After ten years   44,682    40,147 
Mortgage / asset-backed securities   131,823    120,074 
Redeemable preferred stocks   3,738    3,298 
Total fixed income securities  $329,486   $303,415 
   December 31, 2023 
   Amortized Cost   Fair Value 
Due to mature:          
One year or less  $9,612   $9,436 
After one year through five years   75,794    72,602 
After five years through ten years   86,185    79,281 
After ten years   47,806    42,620 
Mortgage / asset-backed securities   152,586    139,631 
Redeemable preferred stocks   4,747    4,161 
Total fixed income securities  $376,730   $347,731 
Schedule of Gross Unrealized Losses on Fixed Income Securities The investment category and duration of the Company’s gross unrealized losses on fixed income securities, presented on a consolidated basis, including both continuing and discontinued operations, are shown below. Investments with unrealized losses are categorized with a duration of greater than 12 months when all positions of a security have continually been in a loss position for at least 12 months.
   June 30, 2024 
   Less than 12 Months   Greater than 12 months   Total 
   Fair
Value
   Unrealized
Losses
   Fair
Value
   Unrealized
Losses
   Fair
Value
   Unrealized
Losses
 
Fixed income securities:                              
U.S. Government and agencies  $3,212   $(28)  $6,071   $(327)  $9,283   $(355)
Obligations of states and political subdivisions   9,019    (112)   36,207    (4,785)   45,226    (4,897)
Corporate securities   14,678    (240)   91,589    (8,740)   106,267    (8,980)
Residential mortgage-backed securities   8,535    (121)   30,354    (4,940)   38,889    (5,061)
Commercial mortgage-backed securities   1,928    (42)   21,112    (3,282)   23,040    (3,324)
Asset-backed securities   6,526    (43)   23,230    (3,656)   29,756    (3,699)
Redeemable preferred stocks   
    
    3,297    (440)   3,297    (440)
Total fixed income securities  $43,898   $(586)  $211,860   $(26,170)  $255,758   $(26,756)
                               
   December 31, 2023 
   Less than 12 Months   Greater than 12 months   Total 
   Fair
Value
   Unrealized
Losses
   Fair
Value
   Unrealized
Losses
   Fair
Value
   Unrealized
Losses
 
Fixed income securities:                              
U.S. Government and agencies  $
   $
   $9,018   $(736)  $9,018   $(736)
Obligations of states and political subdivisions   5,239    (359)   36,194    (4,357)   41,433    (4,716)
Corporate securities   8,018    (93)   110,117    (10,763)   118,135    (10,856)
Residential mortgage-backed securities   12,054    (104)   33,341    (5,275)   45,395    (5,379)
Commercial mortgage-backed securities   2,678    (5)   23,713    (4,236)   26,391    (4,241)
Asset-backed securities   4,463    (18)   30,200    (3,787)   34,663    (3,805)
Redeemable preferred stocks   
    
    4,161    (586)   4,161    (586)
Total fixed income securities  $32,452   $(579)  $246,744   $(29,740)  $279,196   $(30,319)

 

Schedule of continuing and discontinued operations by duration of the Company’s gross unrealized losses on fixed income The reconciliation for continuing and discontinued operations by duration of the Company’s gross unrealized losses on fixed income securities are shown below.
   June 30, 2024 
   Less than 12 Months   Greater than 12 months   Total 
   Fair
Value
   Unrealized
Losses
   Fair
Value
   Unrealized
Losses
   Fair
Value
   Unrealized
Losses
 
Fixed income securities:                              
Continuing operations  $43,898   $(586)  $211,860   $(26,170)  $255,758   $(26,756)
Discontinued operations   
    
    
    
    
    
 
Total fixed income securities  $43,898   $(586)  $211,860   $(26,170)  $255,758   $(26,756)
   December 31, 2023 
   Less than 12 Months   Greater than 12 months   Total 
   Fair
Value
   Unrealized
Losses
   Fair
Value
   Unrealized
Losses
   Fair
Value
   Unrealized
Losses
 
Fixed income securities:                              
Continuing operations  $24,049   $(509)  $211,367   $(24,390)  $235,416   $(24,899)
Discontinued operations   8,403    (70)   35,377    (5,350)   43,780    (5,420)
Total fixed income securities  $32,452   $(579)  $246,744   $(29,740)  $279,196   $(30,319)
Schedule of Net Investment Income for Continuing and Discontinued Operations Net investment income for continuing and discontinued operations consisted of the following:
   Three Months Ended June 30,   Six Months Ended June 30, 
   2024   2023   2024   2023 
Continuing operations:                    
Fixed income securities  $2,624   $2,283   $5,496   $4,466 
Equity securities   182    207    423    448 
Real estate   92    97    189    195 
Cash and cash equivalents   432    67    869    99 
Total gross investment income   3,330    2,654    6,977    5,208 
Investment expenses   807    731    1,699    1,594 
Net investment income – continuing operations   2,523    1,923    5,278    3,614 
Net investment income – discontinued operations   621    582    1,419    1,130 
Net investment income  $3,144   $2,505   $6,697   $4,744 

 

Schedule of Net Investment Gains (Losses) for Continuing and Discontinued Operations Net investment gains (losses) for continuing and discontinued operations consisted of the following:
   Three Months Ended June 30,   Six Months Ended June 30, 
   2024   2023   2024   2023 
Continuing operations:                    
Gross realized gains:                    
Fixed income securities  $
   $
   $9   $
 
Equity securities   191    344    381    13,018 
Total gross realized gains   191    344    390    13,018 
                     
Gross realized losses, excluding credit impairment losses:                    
Fixed income securities   
    (185)   (15)   (440)
Equity securities   (182)   (257)   (457)   (1,041)
Total gross realized losses, excluding credit impairment losses   (182)   (442)   (472)   (1,481)
                     
Net realized gains (losses)   9    (98)   (82)   11,537 
                     
Change in net unrealized gains on equity securities   (589)   (75)   958    (10,307)
Net investment gains (losses) – continuing operations   (580)   (173)   876    1,230 
Net investment gains (losses) – discontinued operations   (256)   (1)   116    12 
Net investment gains (losses)  $(836)  $(174)  $992   $1,242