v3.3.1.900

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Fair value hierarchy of financial assets and financial liabilities measured on a recurring basis

At December 31, 2015 and 2014, we classified our financial instruments measured at fair value on a recurring basis in the following valuation hierarchy:

December 31, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total Fair Value
AFS fixed maturities
U.S. treasury bonds		$	6,010			$	—			$	—			$	6,010
U.S. agency bonds – mortgage-backed		—				1,476,991				—				1,476,991
U.S. agency bonds – other		—				24,311				—				24,311
Non-U.S. government and supranational bonds		—				30,544				—				30,544
Asset-backed securities		—				165,804				—				165,804
Corporate bonds		—				1,739,668				—				1,739,668
Municipal bonds		—				64,760				—				64,760
Other investments		4,905				—				6,907				11,812
Total		$	10,915			$	3,502,078			$	6,907			$	3,519,900
As a percentage of total assets		0.2		%		61.3		%		0.1		%		61.6		%

December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total Fair Value
AFS fixed maturities
U.S. treasury bonds		$	9,360			$	—			$	—			$	9,360
U.S. agency bonds – mortgage-backed		—				1,322,443				—				1,322,443
U.S. agency bonds – other		—				7,988				—				7,988
Non-U.S. government and supranational bonds		—				51,643				—				51,643
Asset-backed securities		—				54,780				—				54,780
Corporate bonds		—				1,895,379				—				1,895,379
Municipal bonds		—				65,819				—				65,819
Short-term investments		—				49,492				—				49,492
Other investments		5,990				—				6,581				12,571
Total		$	15,350			$	3,447,544			$	6,581			$	3,469,475
As a percentage of total assets		0.3		%		66.8		%		0.1		%		67.2		%

Changes in Level 3 for financial instruments measured at fair value on a recurring basis

The following table presents changes in Level 3 of our financial instruments measured at fair value on a recurring basis for the years ended December 31, 2015 and 2014:

		For the Year Ended December 31,
Other investments:		2015				2014
Balance at beginning of period		$	6,581			$	5,092
Total realized gains – included in net realized gains on investment		192				439
Total realized losses – included in net realized gains on investment		—				—
Change in total unrealized gains – included in other comprehensive income (loss)		373				1,139
Change in total unrealized losses – included in other comprehensive income (loss)		—				—
Purchases		217				6,698
Sales and redemptions		(456		)		(797		)
Transfers into Level 3		—				—
Transfers out of Level 3		—				(5,990		)
Balance at end of period		$	6,907			$	6,581
Level 3 gains (losses) included in net income attributable to the change in unrealized gains (losses) relating to assets held at the reporting date		$	—			$	—

Carrying values of financial instruments not measured at fair value

The following table presents the fair value and carrying value of the financial instruments not measured at fair value:

		December 31, 2015								December 31, 2014
		Carrying Value				Fair Value				Carrying Value				Fair Value
Financial Assets
HTM - corporate bonds		$	607,843			$	598,975			$	—			$	—
Total financial assets		$	607,843			$	598,975			$	—			$	—
Financial Liabilities
MHNA - 8.25%		$	107,500			$	110,424			$	107,500			$	113,391
MHNB - 8.00%		100,000				105,328				100,000				106,320
MHNC - 7.75%		152,500				165,456				152,500				162,016
Total financial liabilities		$	360,000			$	381,208			$	360,000			$	381,727

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Financial Instruments Not Measured At Fair Value [Table Text Block]

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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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19279-110258

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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/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258

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