Investments (Tables)

6 Months Ended

Jun. 30, 2020

Investments

Schedule of available-for-sale investments

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
June 30, 2020	Cost or Cost		Gains		Losses		Value
	(in thousands)
Fixed maturities:
U.S. Governments	$	15,299	$	896	$	—	$	16,195
States, territories, and possessions		2,833		353		—		3,186
Political subdivisions		2,295		102		—		2,397
Special revenue excluding mortgage/asset-backed securities		28,093		986		(181)		28,898
Industrial and miscellaneous		151,122		8,828		(1,183)		158,767
Mortgage/asset-backed securities		71,210		2,808		(606)		73,412
Total available-for-sale investments	$	270,852	$	13,973	$	(1,970)	$	282,855

			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
June 30, 2020	Value		Losses		Value		Losses		Value		Losses
	(in thousands)
Fixed maturity securities:
U.S. Governments	$	—	$	—	$	—	$	—	$	—	$	—
States, territories, and possessions		—		—		—		—		—		—
Political subdivisions		—		—		—		—		—		—
Special revenue excluding mortgage/asset-backed securities		5,592		(181)		—		—		5,592		(181)
Industrial and miscellaneous		17,169		(1,183)		—		—		17,169		(1,183)
Mortgage/asset-backed securities		17,232		(606)		—		—		17,232		(606)
Total	$	39,993	$	(1,970)	$	—	$	—	$	39,993	$	(1,970)

	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	$	9,794	$	9,882
Due after one year through five years		87,904		91,674
Due after five years through ten years		76,683		81,891
Due after ten years		25,261		25,996
Mortgage and asset-backed securities		71,210		73,412
	$	270,852	$	282,855

Schedule of net investment income

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
	(in thousands)				(in thousands)
Interest income	$	2,092	$	1,452	$	4,093	$	2,462
Dividend income		120		137		245		166
Investment expense		(98)		(106)		(190)		(185)
Net investment income	$	2,114	$	1,483	$	4,148	$	2,443

Schedule of net realized and unrealized investment gains and losses

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
		(in thousands)				(in thousands)
Realized gains:
Gains on sales of fixed maturity securities	$	175	$	53	$	185	$	97
Gains on sales of equity securities		—		—		—		67
Total realized gains		175		53		185		164
Realized losses:
Losses on sales of fixed maturity securities		(44)		(3)		(44)		(69)
Losses on sales of equity securities		(2)		—		(2)		(156)
Total realized losses		(46)		(3)		(46)		(225)
Net realized investment gains (losses)		129		50		139		(61)
Net unrealized gains on equity securities		649		443		1,080		2,965
Net realized and unrealized gains on investments	$	778	$	493	$	1,219	$	2,904