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Fair Values of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2021

Fair Values of Financial Instruments [Abstract]

Financial Instruments Carried at Fair Value Measured on a Recurring Basis

As of June 30, 2021, 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		$	—			$	257,684			$	124			$	257,808
Equity securities			21,820				—				83				21,903
Cash equivalents			7,121				—				—				7,121
Total		$	28,941			$	257,684			$	207			$	286,832

As of December 31, 2020, 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		$	—			$	254,106			$	—			$	254,106
Equity securities			18,573				—				143				18,716
Cash equivalents			12,010				—				—				12,010
Total		$	30,583			$	254,106			$	143			$	284,832

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 June 30, 2021 and December 31, 2020.

						June 30, 2021								December 31, 2020
		Level in Fair Value Hierarchy (1)				Carrying Amount				Estimated Fair Value				Carrying Amount				Estimated Fair Value
Assets:
Cash and cash equivalents		Level 1				$	9,532			$	9,532			$	19,319			$	19,319
Fixed maturities			(1)				257,808				257,808				254,106				254,106
Equity securities			(1)				21,903				21,903				18,716				18,716
Other invested assets		Level 3					3,117				3,117				3,238				3,238
Policy loans		Level 2					1,920				1,920				1,975				1,975
Investment in unconsolidated trusts		Level 2					1,238				1,238				1,238				1,238
Liabilities:
Junior subordinated debentures, net		Level 2					33,738				34,259				33,738				32,297

(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 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=123594938&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=123874694&loc=d3e19207-110258

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- References

No definition available.

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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=123874694&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=123874694&loc=d3e19207-110258

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