Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

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, 2022 and December 31, 2021, by level within the fair value hierarchy:

	March 31, 2022
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets
Fixed maturities:
U.S. Treasury securities and obligations of U.S. government agencies	$	13,984	$	—	$	—	$	13,984
Obligations of states, municipalities and political subdivisions	—		217,759		—		217,759
Corporate and other securities	—		529,086		—		529,086
Asset-backed securities	—		273,658		—		273,658
Residential mortgage-backed securities	—		358,035		—		358,035
Commercial mortgage-backed securities	—		68,893		—		68,893
Total fixed-maturity securities	13,984		1,447,431		—		1,461,415
Equity securities:
Exchange traded funds	119,288		—		—		119,288
Non-redeemable preferred stock	—		44,286		—		44,286
Total equity securities	119,288		44,286		—		163,574
Short-term investments	—		825		—		825
Total	$	133,272	$	1,492,542	$	—	$	1,625,814

	December 31, 2021
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets
Fixed maturities:
U.S. Treasury securities and obligations of U.S. government agencies	$	6,847	$	—	$	—	$	6,847
Obligations of states, municipalities and political subdivisions	—		228,045		—		228,045
Corporate and other securities	—		458,487		—		458,487
Asset-backed securities	—		301,775		—		301,775
Residential mortgage-backed securities	—		337,685		—		337,685
Commercial mortgage-backed securities	—		59,227		—		59,227
Total fixed-maturity securities	6,847		1,385,219		—		1,392,066
Equity securities:
Exchange traded funds	123,389		—		—		123,389
Non-redeemable preferred stock	—		49,222		—		49,222
Total equity securities	123,389		49,222		—		172,611
Total	$	130,236	$	1,434,441	$	—	$	1,564,677