Investments (Tables)

6 Months Ended

Jun. 30, 2022

Investments

Schedule of available-for-sale investments

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
June 30, 2022	Cost or Cost		Gains		Losses		Value
	(in thousands)
Fixed maturities:
U.S. Governments	$	46,397	$	3	$	(1,232)	$	45,168
States, territories, and possessions		5,866		74		(360)		5,580
Political subdivisions		6,744		7		(707)		6,043
Special revenue excluding mortgage/asset-backed securities		43,126		5		(4,154)		38,977
Corporate and other		265,896		121		(19,610)		246,407
Mortgage/asset-backed securities		145,137		53		(8,889)		136,301
Total available-for-sale investments	$	513,166	$	263	$	(34,952)	$	478,477

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
December 31, 2021	Cost or Cost		Gains		Losses		Value
	(in thousands)
Fixed maturities:
U.S. Governments	$	16,713	$	347	$	(190)	$	16,870
States, territories, and possessions		3,789		288		(63)		4,014
Political subdivisions		6,295		107		(22)		6,380
Special revenue excluding mortgage/asset-backed securities		43,301		1,273		(76)		44,498
Corporate and other		245,064		5,873		(1,891)		249,046
Mortgage/asset-backed securities		110,960		1,377		(463)		111,874
Total available-for-sale investments	$	426,122	$	9,265	$	(2,705)	$	432,682

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, 2022	Value		Losses		Value		Losses		Value		Losses
	(in thousands)
Fixed maturity securities:
U.S. Governments	$	37,120	$	(659)	$	6,478	$	(573)	$	43,598	$	(1,232)
States, territories, and possessions		1,669		(360)		—		—		1,669		(360)
Political subdivisions		4,015		(435)		1,546		(272)		5,561		(707)
Special revenue excluding mortgage/asset-backed securities		37,841		(4,154)		—		—		37,841		(4,154)
Corporate and other		203,674		(16,868)		15,103		(2,742)		218,777		(19,610)
Mortgage/asset-backed securities		123,990		(8,209)		6,240		(680)		130,230		(8,889)
Total	$	408,309	$	(30,685)	$	29,367	$	(4,267)	$	437,676	$	(34,952)

	Less Than 12 Months				More Than 12 Months				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
December 31, 2021	Value		Losses		Value		Losses		Value		Losses
	(in thousands)
Fixed maturity securities:
U.S. Governments	$	5,968	$	(147)	$	1,457	$	(43)	$	7,425	$	(190)
States, territories, and possessions		1,444		(63)		—		—		1,444		(63)
Political subdivisions		1,815		(22)		—		—		1,815		(22)
Special revenue excluding mortgage/asset-backed securities		6,280		(76)		—		—		6,280		(76)
Corporate and other		94,020		(1,468)		5,570		(423)		99,590		(1,891)
Mortgage/asset-backed securities		51,246		(412)		2,319		(51)		53,565		(463)
Total	$	160,773	$	(2,188)	$	9,346	$	(517)	$	170,119	$	(2,705)

Schedule of contractual maturities of available-for-sale securities

	Amortized		Fair
	Cost		Value
	(in thousands)
Due within one year	$	32,742	$	32,461
Due after one year through five years		174,358		166,479
Due after five years through ten years		126,703		114,076
Due after ten years		34,226		29,160
Mortgage and asset-backed securities		145,137		136,301
	$	513,166	$	478,477

Schedule of net investment income

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
	(in thousands)				(in thousands)
Interest income	$	3,082	$	2,262	$	5,640	$	4,501
Dividend income		185		58		340		157
Investment expense		(127)		(126)		(261)		(245)
Net investment income	$	3,140	$	2,194	$	5,719	$	4,413

Schedule of net realized and unrealized investment gains and losses

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
		(in thousands)				(in thousands)
Realized gains:
Gains on sales of fixed maturity securities	$	7	$	166	$	10	$	218
Gains on sales of equity securities		—		420		—		1,229
Total realized gains		7		586		10		1,447
Realized losses:
Losses on sales of fixed maturity securities		(116)		—		(116)		(2)
Losses on sales of equity securities		—		—		—		—
Total realized losses		(116)		—		(116)		(2)
Net realized investment gains (losses)		(109)		586		(106)		1,445
Net unrealized gains (losses) on equity securities		(4,626)		(286)		(5,908)		(1,884)
Net realized and unrealized gains (losses) on investments	$	(4,735)	$	300	$	(6,014)	$	(439)