Marketable Securities

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

Note 5 — Marketable Securities

The following table summarizes amortized cost, gross unrealized gains and losses and fair values of the Company’s investments in fixed maturity debt securities as of March 31, 2021 and December 31, 2020:


	March 31, 2021
	Amortized		Gross		Gross
	Cost/		Unrealized		Unrealized
	Cost Basis		Gains		Losses		Fair Value
U.S. Treasuries	$	181	$	2	$	—	$	183
Corporate bonds		63,197		2		(111)		63,088
Municipal bonds		24,003		5		(14)		23,994
Commercial paper		130,659		—		—		130,659
Total Fixed Maturity Debt Securities	$	218,040	$	9	$	(125)	$	217,924


	December 31, 2020
	Amortized		Gross		Gross
	Cost/		Unrealized		Unrealized
	Cost Basis		Gains		Losses		Fair Value
U.S. Treasuries	$	240	$	6	$	—	$	246
Corporate bonds		261		5		(1)		265
U.S. states, territories and political subdivisions		141		5		—		146
Total Fixed Maturity Debt Securities	$	642	$	16	$	(1)	$	657

The amortized cost and fair value of the Company’s fixed maturity debt securities as of March 31, 2021 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.


	Amortized Cost		Fair Value
Due in one year or less	$	173,174	$	173,145
Due after one year through five years		44,540		44,457
Due after five years through ten years		326		322
Total	$	218,040	$	217,924

The following tables summarize the Company’s gross unrealized losses in fixed maturity securities as of March 31, 2021 and December 31, 2020:


			March 31, 2021
	Less Than 12 Months				12 Months or More				Total
	Estimated		Unrealized		Estimated		Unrealized		Estimated		Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
Corporate bonds	$	23,226	$	(31)	$	39,736	$	(80)	$	62,962	$	(111)
Municipal bonds		18,286		(11)		1,135		(3)		19,421		(14)
Total Fixed Maturity Debt Securities	$	41,512	$	(42)	$	40,871	$	(83)	$	82,533	$	(125)


			December 31, 2020
	Less Than 12 Months				12 Months or More				Total
	Estimated		Unrealized		Estimated		Unrealized		Estimated		Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
Corporate bonds	$	39	$	(1)	$	—	$	—	$	39	$	(1)
Total Fixed Maturity Debt Securities	$	39	$	(1)	$	—	$	—	$	39	$	(1)

Unrealized losses shown in the tables above are believed to be temporary. Fair value of investments in fixed maturity debt securities change and are based primarily on market rates. As of March 31, 2021, the Company’s fixed maturity portfolio had 25 securities with gross unrealized losses totaling $83 with maturities that were in excess of 12 months and 98 securities with gross unrealized losses totaling $42 with maturities that were less than 12 months. No single issuer had a gross unrealized loss position greater than $26, or 3.5% of its amortized cost. At December 31, 2020, the Company’s fixed maturity portfolio had no securities with gross unrealized losses with maturities that were in excess of 12 months and 2 securities with gross unrealized losses totaling $1 with maturities that were less than 12 months. No single issuer had a gross unrealized loss position greater than $325(actual), or 1.6% of its amortized cost.

The following tables summarize cost and fair values of the Company’s investments in equity securities as of March 31, 2021 and December 31, 2020:

Proceeds from sales and maturities, gross realized gains, gross realized losses and net realized gains (losses) from sales and maturities of fixed maturity securities for the three months ended March 31, 2021 and December 31, 2020 consisted of the following:


	March 31, 2021
			Gross		Gross		Net
			Realized		Realized		Realized
	Proceeds		Gains		Losses		Losses
Fixed maturity debt securities	$	59	$	—	$	—	$	—
Equity securities		—		—		—		—
Total Marketable Securities	$	59	$	—	$	—	$	—


	March 31, 2020
			Gross		Gross		Net
			Realized		Realized		Realized
	Proceeds		Gains		Losses		Losses
Fixed maturity debt securities	$	18	$	—	$	(3)	$	(3)
Equity securities		—		—		—		—
Total Marketable Securities	$	18	$	1	$	(3)	$	(3)

Note 5 — Marketable Securities

The Company began investing in debt securities with fixed maturities and equity securities during February 2020.

The following table summarizes amortized cost, gross unrealized gains and losses, and estimated fair values of the Company's investments in fixed maturity debt securities, as of December 31, 2020:


	Amortized		Gross		Gross		Estimated
	Cost		Unrealized Gains		Unrealized Losses		Fair Value
Fixed Maturity Debt Securities
U.S. Treasuries	$	240	$	6	$	—	$	246
Corporates		261		5		(1)		265
U.S. states, territories, and political subdivisions		141		5		—		146
Total Fixed Maturity Debt Securities	$	642	$	16	$	(1)	$	657

The amortized cost and estimated fair value of the Company's fixed maturity debt securities as of December 31, 2020 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.


	Amortized		Estimated
	Cost		Fair Value
Due in one year or less	$	77	$	78
Due after one year through five years		379		388
Due after five years through ten years		186		191
Total	$	642	$	657

The following table summarizes the Company's gross unrealized losses in fixed maturity debt securities as of December 31, 2020:


	Less Than 12 Months				12 Months or more				Total
		Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses
Fixed maturity debt securities:
Corporate Bonds	$	39	$	(1)	$	—	$	—	$	39	$	(1)
Total Fixed Maturity Debt Securities	$	39	$	(1)	$	—	$	—	$	39	$	(1)

Unrealized losses shown in the table above are believed to be temporary. Fair value of investments in fixed maturity debt securities change are based primarily on market rates. At December 31, 2020, the Company's fixed maturity portfolio had no securities with gross unrealized losses that were in excess of 12 months and 2 securities with gross unrealized losses totaling $1 that were less than 12 months. No single issuer had a gross unrealized loss position greater than $325 (actual), or 1.6%, of its amortized cost.

The following table summarizes cost and estimated fair values of the Company's investments in equity securities, as of December 31, 2020:

Proceeds from sales and maturities, gross realized gains, gross realized losses, and net realized gains (losses) from sales and maturities of fixed maturity debt securities for the year ended December 31, 2020 consist of the following:


			Gross		Gross		Net
	Proceeds		Realized Gains		Realized Losses		Realized (Losses)
Fixed maturity debt securities	$	18	$	—	$	—	$	—
Equity securities		50		1		(2)		(1)
Total Marketable Securities	$	68	$	1	$	(2)	$	(1)

March 31, 2021

Fair Value

Equity securities