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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2023
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | The following tables set forth our assets that are measured at fair value on a recurring basis as of the dates indicated.
September 30, 2023 | Level 1 |  | Level 2 |  | Level 3 |  | Total Fair Value
(In thousands) |  |  |
Financial Assets |  |  |  |  |  |  |
Fixed maturity securities available-for-sale: |  |  |  |  |  |  |
U.S. Treasury and U.S. Government-sponsored enterprises | $ | 5,827 |  |  | 3,530 |  |  | — |  |  | 9,357 |
States and political subdivisions | — |  |  | 283,956 |  |  | — |  |  | 283,956 |
Corporate | 43 |  |  | 710,698 |  |  | — |  |  | 710,741 |
Commercial mortgage-backed | — |  |  | 167 |  |  | — |  |  | 167 |
Residential mortgage-backed | — |  |  | 92,519 |  |  | — |  |  | 92,519 |
Asset-backed | — |  |  | 54,613 |  |  | — |  |  | 54,613 |
Total fixed maturity securities available-for-sale | 5,870 |  |  | 1,145,483 |  |  | — |  |  | 1,151,353 |
Equity securities: |  |  |  |  |  |  |
Stock mutual funds | 2,034 |  |  | — |  |  | — |  |  | 2,034 |
Bond mutual funds | 4,196 |  |  | — |  |  | — |  |  | 4,196 |
Common stock | 622 |  |  | — |  |  | — |  |  | 622 |
Non-redeemable preferred stock | 8 |  |  | — |  |  | — |  |  | 8 |
Non-redeemable preferred stock fund | 3,695 |  |  | — |  |  | — |  |  | 3,695 |
Total equity securities | 10,555 |  |  | — |  |  | — |  |  | 10,555 |
Other long-term investments (1) | — |  |  | — |  |  | — |  |  | 79,535 |
Total financial assets | $ | 16,425 |  |  | 1,145,483 |  |  | — |  |  | 1,241,443 |
(1) In accordance with Subtopic 820-10, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient are not classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheets.
December 31, 2022 | Level 1 |  | Level 2 |  | Level 3 |  | Total Fair Value
(In thousands) |  |  |
Financial Assets |  |  |  |  |  |  |
Fixed maturity securities available-for-sale: |  |  |  |  |  |  |
U.S. Treasury and U.S. Government-sponsored enterprises | $ | 9,567 |  |  | 3,711 |  |  | — |  |  | 13,278 |
States and political subdivisions | — |  |  | 307,358 |  |  | — |  |  | 307,358 |
Corporate | 44 |  |  | 715,601 |  |  | — |  |  | 715,645 |
Commercial mortgage-backed | — |  |  | 169 |  |  | — |  |  | 169 |
Residential mortgage-backed | — |  |  | 99,826 |  |  | — |  |  | 99,826 |
Asset-backed | — |  |  | 43,242 |  |  | — |  |  | 43,242 |
Foreign governments | — |  |  | 101 |  |  | — |  |  | 101 |
Total fixed maturity securities available-for-sale | 9,611 |  |  | 1,170,008 |  |  | — |  |  | 1,179,619 |
Equity securities: |  |  |  |  |  |  |
Stock mutual funds | 2,615 |  |  | — |  |  | — |  |  | 2,615 |
Bond mutual funds | 4,337 |  |  | — |  |  | — |  |  | 4,337 |
Common stock | 857 |  |  | — |  |  | — |  |  | 857 |
Non-redeemable preferred stock | 8 |  |  | — |  |  | — |  |  | 8 |
Non-redeemable preferred stock fund | 3,773 |  |  | — |  |  | — |  |  | 3,773 |
Total equity securities | 11,590 |  |  | — |  |  | — |  |  | 11,590 |
Other long-term investments (1) | — |  |  | — |  |  | — |  |  | 66,846 |
Total financial assets | $ | 21,201 |  |  | 1,170,008 |  |  | — |  |  | 1,258,055 |
(1) In accordance with Subtopic 820-10, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient are not classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheets.
Fair Value Measurements, Recurring and Nonrecurring | These investments are included in other long-term investments on the consolidated balance sheets.
|  | September 30, 2023 |  | December 31, 2022
(In thousands, except for years) |  | Fair Value Using NAV Per Share | Unfunded Commit- ments | Range (In years) |  | Fair Value Using NAV Per Share | Unfunded Commit- ments | Range (In years)
Description |
Limited partnerships |  |  |  |  |  |  |
Middle market | Investments in privately-originated, performing senior secured debt primarily in North America-based companies | $ | 35,869 |  | 3,452 |  | 4 |  | $ | 33,234 |  | 6,011 |  | 5
Global equity fund | Investments in common stocks of U.S., international developed and emerging markets with a focus on long-term capital growth | 9,383 |  | — |  | 0 |  | 9,037 |  | — |  | 0
Late-stage growth | Investments in private late-stage, established companies seeking capital to accelerate growth prior to an IPO or sale | 19,567 |  | 15,629 |  | 5 to 7 |  | 16,892 |  | 18,444 |  | 5 to 7
Infrastructure | Investments in climate infrastructure assets, focusing on renewable power generation in wind and solar energy | 14,716 |  | 11,233 |  | 10 to 12 |  | 7,683 |  | 4,107 |  | 11
Total limited partnerships | $ | 79,535 |  | 30,314 |  |  |  | $ | 66,846 |  | 28,562 |  |
Fair Value, by Balance Sheet Grouping [Table Text Block] | The carrying amount and fair value for the financial assets and liabilities on the consolidated financial statements not otherwise disclosed for the periods indicated were as follows:
| September 30, 2023 |  | December 31, 2022
(In thousands) | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Financial Assets: |  |  |  |  |  |  |
Policy loans | $ | 75,750 |  |  | 75,750 |  |  | 78,773 |  |  | 78,773 |
Residential mortgage loan | 43 |  |  | 44 |  |  | 49 |  |  | 50 |
Cash and cash equivalents | 16,785 |  |  | 16,785 |  |  | 22,973 |  |  | 22,973 |
Financial Liabilities: |  |  |  |  |  |  |
Annuity - investment contracts | 67,224 |  |  | 59,063 |  |  | 67,344 |  |  | 61,701 |
Fair Value Option, Disclosures | The following table summarizes the carrying amounts of these investments.
Carrying Value (In thousands) | September 30, 2023 |  | December 31, 2022
Other long-term investments: |  |  |
Limited partnerships | $ | 79,535 |  |  | 69,294 |
FHLB common stock | 199 |  |  | 193 |
Mortgage loans | 43 |  |  | 49 |
All other investments | 21 |  |  | 22 |
Total other long-term investments | $ | 79,798 |  |  | 69,558 |

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2C -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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