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Investments (Tables)

9 Months Ended

Sep. 30, 2025

Investments Including Short Term And Cash And Cash Equivalents [Abstract]

Investments Including Short Term And Cash And Cash Equivalents [Table Text Block]

The Company invests primarily in fixed maturity securities as shown below.


Carrying Value (In thousands, except for %)	September 30, 2025				December 31, 2024
	Amount		%		Amount	%

Cash and invested assets:
Fixed maturity securities	$	1,270,045	87.7	%	1,220,961	86.0	%
Equity securities	1,371		0.1		5,447	0.4
Policy loans	68,717		4.7		71,216	5.0
Other long-term investments	85,738		5.9		93,604	6.6

Cash and cash equivalents	23,123		1.6		29,271	2.0

Total cash and invested assets	$	1,448,994	100.0	%	1,420,499	100.0	%

Debt and Equity Securities, Unrealized Gain (Loss)

Unrealized Gain (Loss) on Investments [Table Text Block]

The following tables represent the amortized cost, gross unrealized gains and losses and fair value of fixed maturity securities as of the dates indicated.


	Amortized Cost		Gross Unrealized Gains	Gross Unrealized Losses	Fair Value
September 30, 2025
(In thousands)

Fixed maturity securities:
U.S. Treasury securities	$	5,704	77	92	5,689
U.S. Government-sponsored enterprises	1,272		93	—	1,365
States and political subdivisions	293,634		1,904	27,754	267,784
Corporate:
Financial	296,501		4,126	25,975	274,652
Consumer	247,721		1,132	38,409	210,444
Utilities	131,878		822	19,377	113,323
Energy	83,805		303	7,430	76,678
Communications	63,311		296	7,460	56,147
All other	130,248		1,369	15,214	116,403
Commercial mortgage-backed	308		4	2	310
Residential mortgage-backed	105,767		13	8,373	97,407
Asset-backed	49,477		899	533	49,843

Total fixed maturity securities	$	1,409,626	11,038	150,619	1,270,045


	Amortized Cost		Gross Unrealized Gains	Gross Unrealized Losses	Fair Value
December 31, 2024
(In thousands)

Fixed maturity securities:
U.S. Treasury securities	$	5,939	85	115	5,909
U.S. Government-sponsored enterprises	3,152		152	—	3,304
States and political subdivisions	300,757		1,087	33,542	268,302
Corporate:
Financial	272,925		1,593	33,285	241,233
Consumer	263,242		899	45,955	218,186
Utilities	126,361		220	22,770	103,811
Energy	79,247		40	9,959	69,328
Communications	70,896		111	9,910	61,097
All other	117,387		315	16,368	101,334
Commercial mortgage-backed	315		1	5	311
Residential mortgage-backed	106,661		7	13,026	93,642
Asset-backed	54,419		891	806	54,504

Total fixed maturity securities	$	1,401,301	5,401	185,741	1,220,961

Equity Securities, Restricted

Schedule of Equity Securities [Table Text Block]

The Company's investments in equity securities are shown below.


Fair Value (In thousands)	September 30, 2025		December 31, 2024

Equity securities:

Bond mutual funds	$	222	739
Common stocks	1,142		810
Non-redeemable preferred stock	7		7
Non-redeemable preferred stock fund	—		3,891
Total equity securities	$	1,371	5,447

Unrealized Continuous Losses on Investments [Abstract]

Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value

For fixed maturity security investments that have unrealized losses as of September 30, 2025 and December 31, 2024, the gross unrealized losses and related fair values that have been in a continuous unrealized loss position by timeframe are as follows.


September 30, 2025	Less than 12 months				Greater than 12 months			Total
(In thousands, except for # of securities)	Fair Value		Unrealized Losses	# of Securities	Fair Value	Unrealized Losses	# of Securities	Fair Value	Unrealized Losses	# of Securities

Fixed maturity securities:
U.S. Treasury securities	$	470	2	2	828	90	6	1,298	92	8

States and political subdivisions	21,630		382	25	149,134	27,372	181	170,764	27,754	206
Corporate:
Financial	17,197		231	33	147,423	25,744	178	164,620	25,975	211
Consumer	25,206		709	31	159,917	37,700	218	185,123	38,409	249
Utilities	12,308		178	34	79,033	19,199	140	91,341	19,377	174
Energy	13,304		160	29	45,449	7,270	53	58,753	7,430	82
Communications	6,269		49	10	41,961	7,411	50	48,230	7,460	60
All Other	7,481		207	17	73,067	15,007	95	80,548	15,214	112
Commercial mortgage-backed	—		—	—	85	2	1	85	2	1
Residential mortgage-backed	1,574		2	7	94,084	8,371	79	95,658	8,373	86
Asset-backed	4,728		175	7	9,768	358	11	14,496	533	18

Total fixed maturity securities	$	110,167	2,095	195	800,749	148,524	1,012	910,916	150,619	1,207


December 31, 2024	Less than 12 months				Greater than 12 months			Total
(In thousands, except for # of securities)	Fair Value		Unrealized Losses	# of Securities	Fair Value	Unrealized Losses	# of Securities	Fair Value	Unrealized Losses	# of Securities

Fixed maturity securities:
U.S. Treasury securities	$	835	51	3	435	64	5	1,270	115	8

States and political subdivisions	42,583		1,484	63	147,534	32,058	177	190,117	33,542	240
Corporate:
Financial	29,258		756	53	154,448	32,529	192	183,706	33,285	245
Consumer	37,231		2,053	57	161,795	43,902	216	199,026	45,955	273
Utilities	16,750		687	47	79,488	22,083	142	96,238	22,770	189
Energy	11,654		438	29	52,537	9,521	65	64,191	9,959	94
Communications	9,973		250	11	48,462	9,660	60	58,435	9,910	71
All Other	25,208		1,237	38	68,756	15,131	87	93,964	16,368	125
Commercial mortgage-backed	100		—	1	89	5	1	189	5	2
Residential mortgage-backed	160		2	11	93,231	13,024	84	93,391	13,026	95
Asset-backed	10,330		243	14	14,741	563	16	25,071	806	30
Total fixed maturity securities	$	184,082	7,201	327	821,516	178,540	1,045	1,005,598	185,741	1,372

Debt and Equity Securities, Realized Gain (Loss)

Schedule of Realized Gain (Loss) [Table Text Block]

The Company uses the specific identification method of the individual security to determine the cost basis used in the calculation of realized gains and losses related to security sales.



	Three Months Ended			Nine Months Ended
	September 30,			September 30,
(In thousands)	2025		2024	2025	2024
Fixed maturity securities, available-for-sale:
Proceeds	$	45,574	—	60,143	4,659
Gross realized gains	$	868	—	960	91
Gross realized losses	$	75	—	517	196

During the second quarter of 2025, the Company accepted a tender offer by Discovery Communications, Inc. after considering the outlook of the issuer. As a result, the Company recognized a realized loss of $0.4 million, which is recorded a net realized investment loss for the period.

Schedule of Maturities by Contractual Maturity Date [Abstract]

Investments Classified by Contractual Maturity Date [Table Text Block]

The amortized cost and fair value of fixed maturity securities at September 30, 2025 by contractual maturity are shown in the table below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date have been reflected based upon final stated maturity.


September 30, 2025	Amortized Cost		Fair Value
(In thousands)
Fixed maturity securities:
Due in one year or less	$	31,925	31,911
Due after one year through five years	117,290		117,944
Due after five years through ten years	281,140		281,669
Due after ten years	979,271		838,521
Total fixed maturity securities	$	1,409,626	1,270,045