Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

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 March 31, 2021 and December 31, 2020, by level within the fair value hierarchy.

	March 31, 2021
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets
Fixed maturities:
Obligations of states, municipalities and political subdivisions	$	—	$	214,363	$	—	$	214,363
Corporate and other securities	—		342,826		—		342,826
Asset-backed securities	—		259,425		—		259,425
Commercial mortgage-backed securities	—		64,826		—		64,826
Residential mortgage-backed securities	—		218,323		—		218,323
Total fixed-maturity securities	—		1,099,763		—		1,099,763
Equity securities:
Exchange traded funds	106,014		—		—		106,014
Nonredeemable preferred stock	—		34,022		—		34,022
Total equity securities	106,014		34,022		—		140,036
Total	$	106,014	$	1,133,785	$	—	$	1,239,799

	December 31, 2020
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets
Fixed maturities:
Obligations of states, municipalities and political subdivisions	$	—	$	230,906	$	—	$	230,906
Corporate and other securities	—		316,608		—		316,608
Asset-backed securities	—		240,661		—		240,661
Commercial mortgage-backed securities	—		70,969		—		70,969
Residential mortgage-backed securities	—		222,656		—		222,656
Total fixed-maturity securities	—		1,081,800		—		1,081,800
Equity securities:
Exchange traded funds	98,050		—		—		98,050
Nonredeemable preferred stock	—		31,612		—		31,612
Total equity securities	98,050		31,612		—		129,662
Total	$	98,050	$	1,113,412	$	—	$	1,211,462