XML 32 R23.htm IDEA: XBRL DOCUMENT
v3.22.2

Fair Values of Financial Instruments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2022
Fair Values of Financial Instruments [Abstract] |
Financial Instruments Carried at Fair Value Measured on a Recurring Basis | As of June 30, 2022, 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 |  | $ | — |  |  | $ | 219,282 |  |  | $ | — |  |  | $ | 219,282 |
Equity securities |  |  | 16,294 |  |  |  | — |  |  |  | 156 |  |  |  | 16,450 |
Cash equivalents |  |  | 10,019 |  |  |  | — |  |  |  | — |  |  |  | 10,019 |
Total |  | $ | 26,313 |  |  | $ | 219,282 |  |  | $ | 156 |  |  | $ | 245,751 |
As of December 31, 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 |  | $ | 250 |  |  | $ | 260,486 |  |  | $ | 250 |  |  | $ | 260,986 |
Equity securities |  |  | 18,967 |  |  |  | — |  |  |  | 157 |  |  |  | 19,124 |
Cash equivalents |  |  | 12,713 |  |  |  | — |  |  |  | — |  |  |  | 12,713 |
Total |  | $ | 31,930 |  |  | $ | 260,486 |  |  | $ | 407 |  |  | $ | 292,823 |
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, 2022 and December 31, 2021.
|  |  |  | June 30, 2022 |  |  | December 31, 2021 |
| Level in Fair Value Hierarchy (1) |  |  | Carrying Amount |  |  | Estimated Fair Value |  |  | Carrying Amount |  |  | Estimated Fair Value |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | Level 1 |  |  | $ | 15,910 |  |  | $ | 15,910 |  |  | $ | 24,753 |  |  | $ | 24,753 |
Fixed maturities |  | (1) |  |  | 219,282 |  |  |  | 219,282 |  |  |  | 260,986 |  |  |  | 260,986 |
Equity securities |  | (1) |  |  | 16,450 |  |  |  | 16,450 |  |  |  | 19,124 |  |  |  | 19,124 |
Other invested assets | Level 3 |  |  |  | 5,128 |  |  |  | 5,128 |  |  |  | 198 |  |  |  | 198 |
Policy loans | Level 2 |  |  |  | 1,799 |  |  |  | 1,799 |  |  |  | 1,858 |  |  |  | 1,858 |
Investment in unconsolidated trusts | Level 2 |  |  |  | 1,238 |  |  |  | 1,238 |  |  |  | 1,238 |  |  |  | 1,238 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Junior subordinated debentures, net | Level 2 |  |  |  | 33,738 |  |  |  | 32,489 |  |  |  | 33,738 |  |  |  | 33,728 |
(1) | See the aforementioned information for a description of the fair value hierarchy as well as a description of levels for classes of these financial assets.

X
- 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 https://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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration