Investments (Tables)

9 Months Ended

Sep. 30, 2021

Investments

Schedule of available-for-sale investments

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
September 30, 2021	Cost or Cost		Gains		Losses		Value
	(in thousands)
Fixed maturities:
U.S. Governments	$	18,965	$	461	$	(115)	$	19,311
States, territories, and possessions		6,171		348		(118)		6,401
Political subdivisions		1,494		94		—		1,588
Special revenue excluding mortgage/asset-backed securities		43,376		1,228		(174)		44,430
Corporate and other		248,480		7,751		(1,131)		255,100
Mortgage/asset-backed securities		79,469		1,849		(102)		81,216
Total available-for-sale investments	$	397,955	$	11,731	$	(1,640)	$	408,046

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
December 31, 2020	Cost or Cost		Gains		Losses		Value
	(in thousands)
Fixed maturities:
U.S. Governments	$	16,308	$	756	$	(5)	$	17,059
States, territories, and possessions		6,208		428		—		6,636
Political subdivisions		2,027		125		—		2,152
Special revenue excluding mortgage/asset-backed securities		39,704		1,525		(2)		41,227
Corporate and other		234,049		11,602		(291)		245,360
Mortgage/asset-backed securities		82,983		2,785		(215)		85,553
Total available-for-sale investments	$	381,279	$	17,221	$	(513)	$	397,987

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, 2021	Value		Losses		Value		Losses		Value		Losses
	(in thousands)
Fixed maturity securities:
U.S. Governments	$	7,018	$	(105)	$	490	$	(10)	$	7,508	$	(115)
States, territories, and possessions		3,236		(118)		—		—		3,236		(118)
Political subdivisions		—		—		—		—		—		—
Special revenue excluding mortgage/asset-backed securities		13,593		(174)		—		—		13,593		(174)
Corporate and other		70,182		(799)		5,688		(332)		75,870		(1,131)
Mortgage/asset-backed securities		9,628		(79)		2,443		(23)		12,071		(102)
Total	$	103,657	$	(1,275)	$	8,621	$	(365)	$	112,278	$	(1,640)

	Less Than 12 Months				More Than 12 Months				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
December 31, 2020	Value		Losses		Value		Losses		Value		Losses
	(in thousands)
Fixed maturity securities:
U.S. Governments	$	1,496	$	(5)	$	—	$	—	$	1,496	$	(5)
States, territories, and possessions		—		—		—		—		—		—
Political subdivisions		—		—		—		—		—		—
Special revenue excluding mortgage/asset-backed securities		520		(2)		—		—		520		(2)
Corporate and other		22,718		(234)		203		(57)		22,921		(291)
Mortgage/asset-backed securities		16,092		(211)		496		(4)		16,588		(215)
Total	$	40,826	$	(452)	$	699	$	(61)	$	41,525	$	(513)

Schedule of contractual maturities of available-for-sale securities

	Amortized		Fair
	Cost		Value
	(in thousands)
Due within one year	$	27,733	$	27,927
Due after one year through five years		134,550		137,757
Due after five years through ten years		112,259		116,275
Due after ten years		43,944		44,871
Mortgage and asset-backed securities		79,469		81,216
	$	397,955	$	408,046

Schedule of net investment income

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
	(in thousands)				(in thousands)
Interest income	$	2,254	$	2,149	$	6,755	$	6,242
Dividend income		104		109		261		354
Investment expense		(122)		(120)		(367)		(309)
Net investment income	$	2,236	$	2,138	$	6,649	$	6,287

Schedule of net realized and unrealized investment gains and losses

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
		(in thousands)				(in thousands)
Realized gains:
Gains on sales of fixed maturity securities	$	117	$	66	$	335	$	256
Gains on sales of equity securities		188		59		1,416		57
Total realized gains		305		125		1,751		313
Realized losses:
Losses on sales of fixed maturity securities		—		—		(1)		(44)
Losses on sales of equity securities		—		—		—		—
Total realized losses		—		—		(1)		(44)
Net realized investment gains		305		125		1,750		269
Net unrealized gains (losses) on equity securities		(618)		(101)		(2,502)		974
Net realized and unrealized gains (losses) on investments	$	(313)	$	24	$	(752)	$	1,243