Investments (Tables)

9 Months Ended

Sep. 30, 2019

Investments

Schedule of available-for-sale investments

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
September 30, 2019	Cost or Cost		Gains		Losses		Value
	(in thousands)
Fixed maturities:
U.S. Governments	$	13,085	$	461	$	(7)	$	13,539
States, territories, and possessions		2,300		169		—		2,469
Political subdivisions		1,922		33		—		1,955
Special revenue excluding mortgage/asset-backed securities		17,762		614		(3)		18,373
Industrial and miscellaneous		123,835		5,051		(31)		128,855
Mortgage/asset-backed securities		57,719		1,090		(14)		58,795
Total available-for-sale investments	$	216,623	$	7,418	$	(55)	$	223,986

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
December 31, 2018	Cost or Cost		Gains		Losses		Value
	(in thousands)
Fixed maturities:
U.S. Governments	$	15,299	$	96	$	(126)	$	15,269
States, territories, and possessions		1,227		—		(6)		1,221
Political subdivisions		825		—		(10)		815
Special revenue excluding mortgage/asset-backed securities		12,429		115		(91)		12,453
Industrial and miscellaneous		65,885		192		(951)		65,126
Mortgage/asset-backed securities		27,284		133		(81)		27,336
Total available-for-sale investments	$	122,949	$	536	$	(1,265)	$	122,220

Schedule of aggregate fair value and gross unrealized losses

	Less Than 12 Months				More Than 12 Months				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
September 30, 2019	Value		Losses		Value		Losses		Value		Losses
	(in thousands)
Fixed maturity securities:
U.S. Governments		1,485		—	$	1,824	$	(7)	$	3,309	$	(7)
States, territories, and possessions		—		—		—		—		—		—
Political subdivisions		546		—		—		—		546		—
Special revenue excluding mortgage/asset-backed securities		569		(1)		997		(2)		1,566		(3)
Industrial and miscellaneous		3,936		(22)		3,457		(9)		7,393		(31)
Mortgage/asset-backed securities		5,261		(13)		263		(1)		5,524		(14)
Total	$	11,797	$	(36)	$	6,541	$	(19)	$	18,338	$	(55)

	Less Than 12 Months				More Than 12 Months				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
December 31, 2018	Value		Losses		Value		Losses		Value		Losses
	(in thousands)
Fixed maturity securities:
U.S. Governments	$	1,970	$	(25)	$	6,197	$	(101)	$	8,167	$	(126)
States, territories, and possessions		719		(5)		501		(1)		1,220		(6)
Political subdivisions		264		(1)		550		(9)		814		(10)
Special revenue excluding mortgage/asset-backed securities		1,706		(14)		5,916		(77)		7,622		(91)
Industrial and miscellaneous		30,544		(556)		14,913		(395)		45,457		(951)
Mortgage/asset-backed securities		6,653		(39)		3,830		(42)		10,483		(81)
Total	$	41,856	$	(640)	$	31,907	$	(625)	$	73,763	$	(1,265)

Schedule of contractual maturities of available-for-sale securities

	Amortized		Fair
	Cost		Value
	(in thousands)
Due within one year	$	7,098	$	7,099
Due after one year through five years		68,726		69,853
Due after five years through ten years		55,711		59,609
Due after ten years		27,369		28,630
Mortgage and asset-backed securities		57,719		58,795
	$	216,623	$	223,986

Schedule of net investment income

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
	(in thousands)				(in thousands)
Interest income	$	1,678	$	816	$	4,140	$	2,083
Dividend income		132		118		299		365
Investment expense		(81)		(69)		(267)		(237)
Net investment income	$	1,729	$	865	$	4,172	$	2,211

Schedule of net realized and unrealized investment gains and losses

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
		(in thousands)				(in thousands)
Realized gains:
Gains on sales of fixed maturity securities	$	38	$	11	$	135	$	20
Gains on sales of equity securities		—		18		64		421
Total realized gains		38		29		199		441
Realized losses:
Losses on sales of fixed maturity securities		(1)		(102)		(70)		(257)
Losses on sales of equity securities		(21)		(229)		(174)		(4,287)
Total realized losses		(22)		(331)		(244)		(4,544)
Net realized investment gains (losses)		16		(302)		(45)		(4,103)
Net unrealized gains on equity securities		345		1,638		3,310		5,072
Net realized and unrealized gains on investments	$	361	$	1,336	$	3,265	$	969