Investments (Tables)

3 Months Ended

Mar. 31, 2020

Investments

Schedule of available-for-sale investments

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
March 31, 2020	Cost or Cost		Gains		Losses		Value
	(in thousands)
Fixed maturities:
U.S. Governments	$	16,623	$	927	$	—	$	17,550
States, territories, and possessions		2,836		208		—		3,044
Political subdivisions		2,304		45		(16)		2,333
Special revenue excluding mortgage/asset-backed securities		26,982		686		(229)		27,439
Industrial and miscellaneous		167,292		3,296		(5,503)		165,085
Mortgage/asset-backed securities		58,827		1,303		(2,223)		57,907
Total available-for-sale investments	$	274,864	$	6,465	$	(7,971)	$	273,358

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
December 31, 2019	Cost or Cost		Gains		Losses		Value
	(in thousands)
Fixed maturities:
U.S. Governments	$	13,371	$	321	$	(13)	$	13,679
States, territories, and possessions		2,298		147		—		2,445
Political subdivisions		1,913		29		—		1,942
Special revenue excluding mortgage/asset-backed securities		18,139		343		(46)		18,436
Industrial and miscellaneous		124,726		4,326		(39)		129,013
Mortgage/asset-backed securities		50,831		824		(19)		51,636
Total available-for-sale investments	$	211,278	$	5,990	$	(117)	$	217,151

Schedule of aggregate fair value and gross unrealized losses

	Less Than 12 Months				More Than 12 Months				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
March 31, 2020	Value		Losses		Value		Losses		Value		Losses
	(in thousands)
Fixed maturity securities:
U.S. Governments	$	—		—	$	—	$	—	$	—	$	—
States, territories, and possessions		—		—		—		—		—		—
Political subdivisions		385		(16)		—		—		385		(16)
Special revenue excluding mortgage/asset-backed securities		8,850		(229)		—		—		8,850		(229)
Industrial and miscellaneous		70,872		(5,503)		—		—		70,872		(5,503)
Mortgage/asset-backed securities		25,566		(2,223)		—		—		25,566		(2,223)
Total	$	105,673	$	(7,971)	$	—	$	—	$	105,673	$	(7,971)

	Less Than 12 Months				More Than 12 Months				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
December 31, 2019	Value		Losses		Value		Losses		Value		Losses
	(in thousands)
Fixed maturity securities:
U.S. Governments	$	1,235	$	(11)	$	1,827	$	(2)	$	3,062	$	(13)
States, territories, and possessions		—		—		—		—		—		—
Political subdivisions		—		—		—		—		—		—
Special revenue excluding mortgage/asset-backed securities		3,548		(46)		—		—		3,548		(46)
Industrial and miscellaneous		6,929		(38)		188		(1)		7,117		(39)
Mortgage/asset-backed securities		7,035		(19)		182		—		7,217		(19)
Total	$	18,747	$	(114)	$	2,197	$	(3)	$	20,944	$	(117)

Schedule of contractual maturities of available-for-sale securities

	Amortized		Fair
	Cost		Value
	(in thousands)
Due within one year	$	11,548	$	11,572
Due after one year through five years		87,088		87,408
Due after five years through ten years		79,345		77,926
Due after ten years		38,056		38,545
Mortgage and asset-backed securities		58,827		57,907
	$	274,864	$	273,358

Schedule of net investment income

	Three Months Ended
	March 31,
	2020		2019
	(in thousands)
Interest income	$	2,001	$	1,010
Dividend income		125		30
Investment expense		(91)		(80)
Net investment income	$	2,035	$	960

Schedule of net realized and unrealized investment gains and losses

	Three Months Ended
	March 31,
	2020		2019
		(in thousands)
Realized gains:
Gains on sales of fixed maturity securities	$	15	$	44
Gains on sales of equity securities		—		66
Total realized gains		15		110
Realized losses:
Losses on sales of fixed maturity securities		—		(66)
Losses on sales of equity securities		—		(156)
Total realized losses		—		(222)
Net realized investment gains (losses)		15		(112)
Net unrealized gains on equity securities		425		2,523
Net realized and unrealized gains on investments	$	440	$	2,411