Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2014

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following tables set forth our assets and liabilities that are measured at fair value on a recurring basis as of the dates indicated.



	June 30, 2014
Available-for-sale investments	Level 1		Level 2	Level 3	Total Fair Value
	(In thousands)
Financial assets:
Fixed maturities:
U.S. Treasury and U.S. Government-sponsored enterprises	$	12,798	40,683	—	53,481
States and political subdivisions	—		375,366	—	375,366
Corporate	—		230,484	—	230,484
Commercial mortgage-backed	—		—	271	271
Residential mortgage-backed	—		3,766	—	3,766
Foreign governments	—		133	—	133
Total fixed maturities	12,798		650,432	271	663,501
Equity securities:
Stock mutual funds	17,875		—	—	17,875
Bond mutual funds	36,031		—	—	36,031
Common stock	757		—	—	757
Preferred stock	1,974		—	—	1,974
Total equity securities	56,637		—	—	56,637
Total financial assets	$	69,435	650,432	271	720,138



	December 31, 2013
Available-for-sale investments	Level 1		Level 2	Level 3	Total Fair Value
	(In thousands)
Financial assets:
Fixed maturities:
U.S. Treasury and U.S. Government-sponsored enterprises	$	12,463	54,568	—	67,031
States and political subdivisions	—		336,466	—	336,466
Corporate	—		197,561	—	197,561
Commercial mortgage-backed	—		—	309	309
Residential mortgage-backed	—		3,762	—	3,762
Foreign governments	—		127	—	127
Total fixed maturities	12,463		592,484	309	605,256
Equity securities:
Stock mutual funds	11,969		—	—	11,969
Bond mutual funds	34,663		—	—	34,663
Common stock	12		—	—	12
Preferred stock	615		—	—	615
Total equity securities	47,259		—	—	47,259
Total financial assets	$	59,722	592,484	309	652,515

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table presents additional information about fixed maturity securities measured at fair value on a recurring basis that are classified as Level 3 assets and for which we have utilized significant unobservable inputs to determine fair value.



	June 30, 2014			December 31, 2013
	(In thousands)

Balance at beginning of period	$	309		387
Total realized and unrealized gains (losses)
Included in net income	—			—
Included in other comprehensive income	—			(7	)
Principal paydowns	(38		)	(71	)
Transfer in and (out) of Level 3	—			—
Balance at end of period	$	271		309

Fair Value, by Balance Sheet Grouping [Table Text Block]

The carrying amount and fair value for the financial assets and liabilities on the consolidated balance sheets not otherwise disclosed for the periods indicated are as follows:



	June 30, 2014			December 31, 2013
	Carrying Value		Fair Value	Carrying Value	Fair Value
	(In thousands)
Financial assets:
Fixed maturities, held-to-maturity	$	228,948	234,415	227,696	223,533
Mortgage loans	650		672	671	695
Policy loans	52,001		52,001	48,868	48,868
Cash and cash equivalents	57,437		57,437	54,593	54,593
Financial liabilities:
Annuity - investment contracts	40,112		42,688	39,469	44,960

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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