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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2019
Fair Value Disclosures [Abstract]  
Assets Measured at Fair Value on a Recurring Basis
The following tables present the balances of assets measured at fair value on a recurring basis as of June 30, 2019 and December 31, 2018, by level within the fair value hierarchy.
 
 
June 30, 2019
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
(in thousands)
Assets
 
 
 
 
 
 
 
 
Fixed maturities:
 
 
 
 
 
 
 
 
U.S. Treasury securities and obligations of U.S. government agencies
 
$
113

 
$

 
$

 
$
113

Obligations of states, municipalities and political subdivisions
 

 
131,961

 

 
131,961

Corporate and other securities
 

 
129,216

 

 
129,216

Commercial mortgage and asset-backed securities
 

 
177,865

 

 
177,865

Residential mortgage-backed securities
 

 
150,922

 

 
150,922

Total fixed maturities
 
113

 
589,964

 

 
590,077

 
 
 
 
 
 
 
 
 
Equity securities:
 
 
 
 
 
 
 
 
Exchange traded funds
 
46,396

 

 

 
46,396

Nonredeemable preferred stock
 

 
19,514

 

 
19,514

Total equity securities
 
46,396

 
19,514

 

 
65,910

Total
 
$
46,509

 
$
609,478

 
$

 
$
655,987


 
 
December 31, 2018
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
(in thousands)
Assets
 
 
 
 
 
 
 
 
Fixed maturities:
 
 
 
 
 
 
 
 
U.S. Treasury securities and obligations of U.S. government agencies
 
$
611

 
$

 
$

 
$
611

Obligations of states, municipalities and political subdivisions
 

 
154,600

 

 
154,600

Corporate and other securities
 

 
96,752

 

 
96,752

Commercial mortgage and asset-backed securities
 

 
149,867

 

 
149,867

Residential mortgage-backed securities
 

 
108,421

 

 
108,421

Total fixed maturities
 
611

 
509,640

 

 
510,251

 
 
 
 
 
 
 
 
 
Equity securities:
 
 
 
 
 
 
 
 
Exchange traded funds
 
38,987

 

 

 
38,987

Nonredeemable preferred stock
 

 
18,724

 

 
18,724

Total equity securities
 
38,987

 
18,724

 

 
57,711

Total
 
$
39,598

 
$
528,364

 
$

 
$
567,962