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Fair Values of Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2019
Fair Values of Financial Instruments [Abstract] |
Financial Instruments Carried at Fair Value Measured on a Recurring Basis | As of September 30, 2019, financial instruments carried at fair value were measured on a recurring basis as summarized below:
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Fixed maturities |  | $ | 11,233 |  |  | $ | 205,064 |  |  | $ | 1,220 | (1) |  | $ | 217,517 |
Equity securities |  |  | 16,921 |  |  |  | 2,586 | (1) |  |  | — |  |  |  | 19,507 |
Cash equivalents |  |  | 29,132 |  |  |  | — |  |  |  | — |  |  |  | 29,132 |
Total |  | $ | 57,286 |  |  | $ | 207,650 |  |  | $ | 1,220 |  |  | $ | 266,156 |
| (1) | All underlying securities are financial services industry related.
As of December 31, 2018, financial instruments carried at fair value were measured on a recurring basis as summarized below:
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Fixed maturities |  | $ | 11,413 |  |  | $ | 197,907 |  |  | $ | 1,066 | (1) |  | $ | 210,386 |
Equity securities |  |  | 16,398 |  |  |  | 4,360 | (1) |  |  | — |  |  |  | 20,758 |
Cash equivalents |  |  | 8,250 |  |  |  | — |  |  |  | — |  |  |  | 8,250 |
Total |  | $ | 36,061 |  |  | $ | 202,267 |  |  | $ | 1,066 |  |  | $ | 239,394 |
| (1) | All underlying securities are financial services industry related.
Roll-forward of Financial Instruments Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) | The following tables provide a roll-forward of the Company’s financial instruments measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three month and nine month periods ended September 30, 2019 and 2018.
|  | Fixed Maturities |
Balance, December 31, 2018 |  | $ | 1,066 |
Total unrealized gains included in other comprehensive loss |  |  | 49 |
Balance, March 31, 2019 |  |  | 1,115 |
Total unrealized gains included in other comprehensive income |  |  | 59 |
Balance, June 30, 2019 |  |  | 1,174 |
Total unrealized gains included in other comprehensive income |  |  | 46 |
Balance, September 30, 2019 |  | $ | 1,220 |
|  | Fixed Maturities |
Balance, December 31, 2017 |  | $ | 1,369 |
Total unrealized losses included in other comprehensive loss |  |  | (30 | )
Balance, March 31, 2018 |  |  | 1,339 |
Total unrealized gains included in other comprehensive loss |  |  | 7 |
Balance, June 30, 2018 |  |  | 1,346 |
Total realized gains included in earnings |  |  | 208 |
Total unrealized losses included in other comprehensive loss |  |  | (53 | )
Settlements |  |  | (483 | )
Balance, September 30, 2018 |  | $ | 1,018 |
Carrying Amount, Estimated Fair Value and Level within the Fair Value Hierarchy of Financial Instruments | The following table sets forth the carrying amount, estimated fair value and level within the fair value hierarchy of the Company’s financial instruments as of September 30, 2019 and December 31, 2018.
|  |  |  |  | September 30, 2019 |  |  | December 31, 2018 |
|  | Level in Fair Value Hierarchy (1) |  |  | Carrying Amount |  |  | Estimated Fair Value |  |  | Carrying Amount |  |  | Estimated Fair Value |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | Level 1 |  |  | $ | 36,013 |  |  | $ | 36,013 |  |  | $ | 12,630 |  |  | $ | 12,630 |
Fixed maturities |  |  | (1 | ) |  |  | 217,517 |  |  |  | 217,517 |  |  |  | 210,386 |  |  |  | 210,386 |
Equity securities |  |  | (1 | ) |  |  | 19,507 |  |  |  | 19,507 |  |  |  | 20,758 |  |  |  | 20,758 |
Other invested assets |  | Level 3 |  |  |  | 7,103 |  |  |  | 7,103 |  |  |  | 7,424 |  |  |  | 7,424 |
Policy loans |  | Level 2 |  |  |  | 1,989 |  |  |  | 1,989 |  |  |  | 2,085 |  |  |  | 2,085 |
Real estate |  | Level 2 |  |  |  | 38 |  |  |  | 38 |  |  |  | 38 |  |  |  | 38 |
Investment in unconsolidated trusts |  | Level 2 |  |  |  | 1,238 |  |  |  | 1,238 |  |  |  | 1,238 |  |  |  | 1,238 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Junior subordinated debentures, net |  | Level 2 |  |  |  | 33,738 |  |  |  | 33,738 |  |  |  | 33,738 |  |  |  | 33,738 |
| (1) | See the aforementioned information for a description of the fair value hierarchy as well as a disclosure of levels for classes of these financial assets.

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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