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Other Comprehensive Income
 3 Months Ended
Mar. 31, 2018
Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Other Comprehensive Income
Other comprehensive (loss) income
The following table summarizes the components of other comprehensive (loss) income for the three months ended March 31, 2018 and 2017:
 
 
Three Months Ended March 31,
 
 
2018
 
2017
 
 
(in thousands)
Unrealized (losses) gains arising during the period, before income taxes:
 
 
 
 
Fixed-maturity securities
 
$
(6,092
)
 
$
697

Equity securities (1)
 
—

 
921

Total unrealized (losses) gains arising during the period, before income taxes
 
(6,092
)
 
1,618

Income taxes
 
1,279

 
(566
)
Unrealized (losses) gains arising during the period, net of income taxes
 
(4,813
)
 
1,052

Less reclassification adjustment:
 
 
 
 
Net realized gains (losses) on fixed-maturity securities, before income taxes
 
55

 
(32
)
Income taxes
 
(12
)
 
11

Reclassification adjustment included in net income
 
43

 
(21
)
Other comprehensive (loss) income
 
$
(4,856
)
 
$
1,073


(1) Adoption of ASU 2016-01, "Financial Instruments – Overall: Recognition and Measurement of Financial Assets and Financial Liabilities," which was effective January 1, 2018, eliminated the available-for-sale classification for equity investments and required changes in unrealized gains and losses in fair value of equity securities to be recognized in net income.
The sale of an available-for-sale fixed-maturity security results in amounts being reclassified from accumulated other comprehensive income to realized gains or losses in current period earnings. The related tax effect of the reclassification adjustment is recorded in income tax expense in current period earnings. See Note 2 for additional information.