Investments Investments (Tables)

9 Months Ended

Sep. 30, 2014

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale Securities Reconciliation

The following table details the difference between cost or adjusted/amortized cost and estimated fair value, by major investment category, at September 30, 2014 and December 31, 2013:

	Cost or Adjusted/Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
September 30, 2014
U.S. government and agency securities	$	123,666	$	101	$	822	$	122,945
Foreign government	3,278		41		—		3,319
States, municipalities and political subdivisions	80,077		1,477		227		81,327
Public utilities	9,059		229		41		9,247
Corporate securities	110,839		1,442		404		111,877
Redeemable preferred stocks	413		—		8		405
Total fixed maturities	327,332		3,290		1,502		329,120
Public utilities	996		62		8		1,050
Other common stocks	17,660		2,918		185		20,393
Non-redeemable preferred stocks	733		3		3		733
Total equity securities	19,389		2,983		196		22,176
Other long-term investments	300		—		—		300
Total investments	$	347,021	$	6,273	$	1,698	$	351,596
December 31, 2013
U.S. government and agency securities	$	98,621	$	28	$	1,169	$	97,480
Foreign government	3,287		—		60		3,227
States, municipalities and political subdivisions	45,556		654		433		45,777
Public utilities	9,103		122		92		9,133
Corporate securities	118,084		792		1,469		117,407
Total fixed maturities	274,651		1,596		3,223		273,024
Public utilities	804		23		20		807
Other common stocks	12,749		1,894		97		14,546
Non-redeemable preferred stocks	272		—		23		249
Total equity securities	13,825		1,917		140		15,602
Other long-term investments	300		—		—		300
Total investments	$	288,776	$	3,513	$	3,363	$	288,926

Schedule of Realized Gain (Loss)

The following table details our realized gains (losses) by major investment category for the three and nine month periods ended September 30, 2014 and 2013:

	2014					2013
	Gains (Losses)			Fair Value at Sale		Gains (Losses)			Fair Value at Sale
Three Months Ended September 30,
Fixed maturities	$	2		$	333	$	2		$	6,007
Equity securities	2			44,024		—			—
Total realized gains	4			44,357		2			6,007
Fixed maturities	(73		)	2,270		(40		)	4,078
Equity securities	—			—		—			—
Total realized losses	(73		)	2,270		(40		)	4,078
Net realized investment losses	$	(69	)	$	46,627	$	(38	)	$	10,085
Nine Months Ended September 30,
Fixed maturities	$	23		$	1,453	$	30		$	20,134
Equity securities	174			111,075		31			155
Total realized gains	197			112,528		61			20,289
Fixed maturities	(150		)	4,823		(258		)	42,725
Equity securities	(71		)	1,013		(2		)	28
Total realized losses	(221		)	5,836		(260		)	42,753
Net realized investment losses	$	(24	)	$	118,364	$	(199	)	$	63,042

Investments Classified by Contractual Maturity Date

The table below summarizes our fixed maturities by their contractual due dates at September 30, 2014. We summarize our fixed maturities by their contractual due dates with the exception of our collateralized mortgage obligations which we summarize by their effective maturity dates. Actual results may differ as issuers may have the right to call or prepay obligations, with or without penalties, prior to the contractual maturity of those obligations.

	September 30, 2014
	Cost or Amortized Cost		Percent of Total		Fair Value		Percent of Total
Due in one year or less	$	45,915	14.0	%	$	45,973	14.0	%
Due after one year through five years	160,295		49.0		160,318		48.7
Due after five years through ten years	113,271		34.6		114,693		34.8
Due after ten years	7,851		2.4		8,136		2.5
Total	$	327,332	100.0	%	$	329,120	100.0	%

Investment Income

The following table summarizes our net investment income by major investment category:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Fixed maturities	$	1,611		$	983		$	4,237		$	2,426
Equity securities	171			93			537			174
Cash, cash equivalents and short-term investments	2			8			7			28
Other investments	23			5			110			16
Investment income	1,807			1,089			4,891			2,644
Investment expenses	(79		)	(40		)	(227		)	(159		)
Net investment income	$	1,728		$	1,049		$	4,664		$	2,485

Schedule of Unrealized Loss on Investments

The following table presents an aging of our unrealized investment losses by investment class:

	Less Than Twelve Months					Twelve Months or More
	Number of Securities*	Gross Unrealized Losses		Fair Value		Number of Securities*	Gross Unrealized Losses		Fair Value
September 30, 2014
U.S. government and agency securities	51	$	355	$	110,191	19	$	467	$	16,797
States, municipalities and political subdivisions	20	120		20,131		9	107		11,817
Public utilities	—	—		—		1	41		1,012
Corporate securities	12	45		12,151		16	359		20,199
Redeemable preferred stocks	3	8		304		—	—		—
Total fixed maturities	86	528		142,777		45	974		49,825
Public utilities	8	7		301		1	1		28
Common stocks	55	165		3,822		1	20		285
Non-redeemable preferred stocks	2	2		200		1	1		128
Total equity securities	65	174		4,323		3	22		441
Total	151	$	702	$	147,100	48	$	996	$	50,266
December 31, 2013
U.S. government and agency securities	47	$	850	$	64,369	7	$	319	$	5,913
Foreign governments	4	60		3,227		—	—		—
States, municipalities and political subdivisions	23	433		27,106		—	—		—
Public utilities	4	92		3,830		—	—		—
Corporate securities	49	1,469		60,348		—	—		—
Total fixed maturities	127	2,904		158,880		7	319		5,913
Public utilities	5	20		357		—	—		—
Common stocks	15	97		1,626		—	—		—
Non-redeemable preferred stocks	1	6		125		1	17		125
Total equity securities	21	123		2,108		1	17		125
Total	148	$	3,027	$	160,988	8	$	336	$	6,038

* This amount represents the actual number of discrete securities, not the number of shares of those securities. The numbers are not presented in thousands.

Fair Value, Measurement Inputs, Disclosure

The following table presents the fair value of our financial instruments measured on a recurring basis by level at September 30, 2014 and December 31, 2013:

	Total		Level 1		Level 2
September 30, 2014
U.S. government and agency securities	$	122,945	$	—	$	122,945
Foreign governments	3,319		—		3,319
States, municipalities and political subdivisions	81,327		—		81,327
Public utilities	9,247		—		9,247
Corporate securities	111,877		—		111,877
Redeemable preferred stocks	405		405		—
Total fixed maturities	329,120		405		328,715
Public utilities	1,050		1,050		—
Common stocks	20,393		20,393		—
Non-redeemable preferred stocks	733		733		—
Total equity securities	22,176		22,176		—
Other long-term investments	300		300		—
Total investments	$	351,596	$	22,881	$	328,715
December 31, 2013
U.S. government and agency securities	$	97,480	$	—	$	97,480
Foreign government	3,227		—		3,227
States, municipalities and political subdivisions	45,777		—		45,777
Public utilities	9,133		—		9,133
Corporate securities	117,407		—		117,407
Total fixed maturities	273,024		—		273,024
Public utilities	807		807		—
Common stocks	14,546		14,546		—
Non-redeemable preferred stocks	249		249		—
Total equity securities	15,602		15,602		—
Other long-term investments	300		300		—
Total investments	$	288,926	$	15,902	$	273,024