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Investments Available for Sale (Tables)
 12 Months Ended
Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]  
Schedule of investments available for sale
Investments available for sale consist of the following:

December 31, 2016 (In thousands)
 
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Value
U.S. Treasury securities
 
$
195,990

 
$
55

 
$
(4,497
)
 
$
191,548

U.S. agency securities
 
18,785

 
—

 
(344
)
 
18,441

U.S. agency mortgage-backed securities
 
324,654

 
335

 
(8,495
)
 
316,494

Municipal debt securities(1)
 
334,048

 
3,649

 
(3,373
)
 
334,324

Corporate debt securities(2)
 
457,842

 
2,343

 
(3,828
)
 
456,357

Residential and commercial mortgage securities
 
68,430

 
488

 
(582
)
 
68,336

Asset-backed securities
 
127,359

 
260

 
(447
)
 
127,172

Money market funds
 
102,430

 
—

 
—

 
102,430

Total investments available for sale
 
$
1,629,538

 
$
7,130

 
$
(21,566
)
 
$
1,615,102


December 31, 2015 (In thousands)
 
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Value
U.S. Treasury securities
 
$
178,460

 
$
235

 
$
(1,088
)
 
$
177,607

U.S. agency securities
 
13,955

 
5

 
(178
)
 
13,782

U.S. agency mortgage-backed securities
 
160,181

 
474

 
(1,053
)
 
159,602

Municipal debt securities(1)
 
272,733

 
7,357

 
(262
)
 
279,828

Corporate debt securities(2)
 
399,246

 
1,338

 
(3,852
)
 
396,732

Residential and commercial mortgage securities
 
56,380

 
97

 
(1,121
)
 
55,356

Asset-backed securities
 
127,919

 
29

 
(1,319
)
 
126,629

Money market funds
 
67,098

 
—

 
—

 
67,098

Total investments available for sale
 
$
1,275,972

 
$
9,535

 
$
(8,873
)
 
$
1,276,634

_______________________________________________________________________________
 
 
December 31,
 
December 31,
(1) The following table summarizes municipal debt securities as of :
 
2016
 
2015
Special revenue bonds
 
63.6
%
 
70.4
%
General obligation bonds
 
29.7

 
24.5

Certificate of participation bonds
 
4.9

 
4.0

Tax allocation bonds
 
1.1

 
1.1

Special tax bonds
 
0.7

 
—

Total
 
100.0
%
 
100.0
%

 
 
December 31,
 
December 31,
(2) The following table summarizes corporate debt securities as of :
 
2016
 
2015
Financial
 
40.6
%
 
44.9
%
Consumer, non-cyclical
 
18.6

 
14.8

Energy
 
9.3

 
9.0

Consumer, cyclical
 
6.3

 
6.2

Utilities
 
6.0

 
5.0

Communications
 
6.0

 
7.1

Industrial
 
5.6

 
5.2

Technology
 
4.3

 
3.8

Basic materials
 
3.3

 
4.0

Total
 
100.0
%
 
100.0
%
Schedule of amortized cost and fair value of investments available for sale by contractual maturity
The amortized cost and fair value of investments available for sale at December 31, 2016, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Because most U.S. agency mortgage-backed securities, residential and commercial mortgage securities and asset-backed securities provide for periodic payments throughout their lives, they are listed below in separate categories.

(In thousands)
 
Amortized
Cost
 
Fair
Value
U.S. Treasury securities:
 
 

 
 

Due in 1 year
 
$
44,516

 
$
44,519

Due after 1 but within 5 years
 
31,380

 
31,075

Due after 5 but within 10 years
 
106,366

 
102,835

Due after 10 years
 
13,728

 
13,119

Subtotal
 
195,990

 
191,548

U.S. agency securities:
 
 

 
 

Due in 1 year
 
—

 
—

Due after 1 but within 5 years
 
18,785

 
18,441

Subtotal
 
18,785

 
18,441

Municipal debt securities:
 
 

 
 

Due in 1 year
 
4,475

 
4,478

Due after 1 but within 5 years
 
110,649

 
109,988

Due after 5 but within 10 years
 
130,963

 
132,079

Due after 10 years
 
87,961

 
87,779

Subtotal
 
334,048

 
334,324

Corporate debt securities:
 
 

 
 

Due in 1 year
 
42,229

 
42,209

Due after 1 but within 5 years
 
252,946

 
252,684

Due after 5 but within 10 years
 
157,582

 
156,512

Due after 10 years
 
5,085

 
4,952

Subtotal
 
457,842

 
456,357

U.S. agency mortgage-backed securities
 
324,654

 
316,494

Residential and commercial mortgage securities
 
68,430

 
68,336

Asset-backed securities
 
127,359

 
127,172

Money market funds
 
102,430

 
102,430

Total investments available for sale
 
$
1,629,538

 
$
1,615,102
Schedule of realized gross gains and losses on sale of investments available for sale
Gross gains and losses realized on the sale of investments available for sale were as follows:

 
 
Year Ended December 31,
(In thousands)
 
2016
 
2015
 
2014
Realized gross gains
 
$
2,822

 
$
3,908

 
$
1,368

Realized gross losses
 
788

 
1,073

 
443
Schedule of fair value of investments in an unrealized loss position and related unrealized losses
The fair value of investments in an unrealized loss position and the related unrealized losses were as follows:

 
 
Less than 12 months
 
12 months or more
 
Total
December 31, 2016 (In thousands)
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
U.S. Treasury securities
 
$
160,018

 
$
(4,497
)
 
$
—

 
$
—

 
$
160,018

 
$
(4,497
)
U.S. agency securities
 
18,441

 
(344
)
 
—

 
—

 
18,441

 
(344
)
U.S. agency mortgage-backed securities
 
289,282

 
(8,402
)
 
1,812

 
(93
)
 
291,094

 
(8,495
)
Municipal debt securities
 
149,368

 
(3,351
)
 
6,015

 
(22
)
 
155,383

 
(3,373
)
Corporate debt securities
 
213,965

 
(3,704
)
 
8,344

 
(124
)
 
222,309

 
(3,828
)
Residential and commercial mortgage securities
 
18,026

 
(434
)
 
14,014

 
(148
)
 
32,040

 
(582
)
Asset-backed securities
 
28,294

 
(57
)
 
47,597

 
(390
)
 
75,891

 
(447
)
Total
 
$
877,394

 
$
(20,789
)
 
$
77,782

 
$
(777
)
 
$
955,176

 
$
(21,566
)

 
 
Less than 12 months
 
12 months or more
 
Total
December 31, 2015 (In thousands)
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
 
Fair
Value
 
Gross
Unrealized
Losses
U.S. Treasury securities
 
$
110,699

 
$
(1,088
)
 
$
—

 
$
—

 
$
110,699

 
$
(1,088
)
U.S. agency securities
 
11,362

 
(178
)
 
—

 
—

 
11,362

 
(178
)
U.S. agency mortgage-backed securities
 
101,465

 
(915
)
 
3,683

 
(138
)
 
105,148

 
(1,053
)
Municipal debt securities
 
47,850

 
(255
)
 
1,254

 
(7
)
 
49,104

 
(262
)
Corporate debt securities
 
252,792

 
(3,447
)
 
9,404

 
(405
)
 
262,196

 
(3,852
)
Residential and commercial mortgage securities
 
23,360

 
(458
)
 
26,075

 
(663
)
 
49,435

 
(1,121
)
Asset-backed securities
 
86,431

 
(871
)
 
26,364

 
(448
)
 
112,795

 
(1,319
)
Total
 
$
633,959

 
$
(7,212
)
 
$
66,780

 
$
(1,661
)
 
$
700,739

 
$
(8,873
)
Schedule of net investment income
Net investment income consists of:

 
 
Year Ended December 31,
(In thousands)
 
2016
 
2015
 
2014
Fixed maturities
 
$
29,865

 
$
21,693

 
$
13,356

Short-term investments
 
142

 
63

 
56

Gross investment income
 
30,007

 
21,756

 
13,412

Investment expenses
 
(2,117
)
 
(1,871
)
 
(1,127
)
Net investment income
 
$
27,890

 
$
19,885

 
$
12,285