Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

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

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

September 30, 2023	Level 1		Level 2	Level 3	Total Fair Value
(In thousands)
Financial Assets
Fixed maturity securities available-for-sale:
U.S. Treasury and U.S. Government-sponsored enterprises	$	5,827	3,530	—	9,357
States and political subdivisions	—		283,956	—	283,956
Corporate	43		710,698	—	710,741
Commercial mortgage-backed	—		167	—	167
Residential mortgage-backed	—		92,519	—	92,519
Asset-backed	—		54,613	—	54,613
Total fixed maturity securities available-for-sale	5,870		1,145,483	—	1,151,353
Equity securities:
Stock mutual funds	2,034		—	—	2,034
Bond mutual funds	4,196		—	—	4,196
Common stock	622		—	—	622
Non-redeemable preferred stock	8		—	—	8
Non-redeemable preferred stock fund	3,695		—	—	3,695
Total equity securities	10,555		—	—	10,555
Other long-term investments (1)	—		—	—	79,535
Total financial assets	$	16,425	1,145,483	—	1,241,443

(1) In accordance with Subtopic 820-10, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient are not classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheets.

December 31, 2022	Level 1		Level 2	Level 3	Total Fair Value
(In thousands)
Financial Assets
Fixed maturity securities available-for-sale:
U.S. Treasury and U.S. Government-sponsored enterprises	$	9,567	3,711	—	13,278
States and political subdivisions	—		307,358	—	307,358
Corporate	44		715,601	—	715,645
Commercial mortgage-backed	—		169	—	169
Residential mortgage-backed	—		99,826	—	99,826
Asset-backed	—		43,242	—	43,242
Foreign governments	—		101	—	101
Total fixed maturity securities available-for-sale	9,611		1,170,008	—	1,179,619
Equity securities:
Stock mutual funds	2,615		—	—	2,615
Bond mutual funds	4,337		—	—	4,337
Common stock	857		—	—	857
Non-redeemable preferred stock	8		—	—	8
Non-redeemable preferred stock fund	3,773		—	—	3,773
Total equity securities	11,590		—	—	11,590
Other long-term investments (1)	—		—	—	66,846
Total financial assets	$	21,201	1,170,008	—	1,258,055
(1) In accordance with Subtopic 820-10, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient are not classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheets.

Fair Value Measurements, Recurring and Nonrecurring

These investments are included in other long-term investments on the consolidated balance sheets.

		September 30, 2023				December 31, 2022
(In thousands, except for years)		Fair Value  Using NAV Per Share		Unfunded Commit- ments	Range (In years)	Fair Value  Using NAV Per Share		Unfunded Commit- ments	Range (In years)
	Description
Limited partnerships
Middle market	Investments in privately-originated, performing senior secured debt primarily in North America-based companies	$	35,869	3,452	4	$	33,234	6,011	5
Global equity fund	Investments in common stocks of U.S., international developed and emerging markets with a focus on long-term capital growth	9,383		—	0	9,037		—	0
Late-stage growth	Investments in private late-stage, established companies seeking capital to accelerate growth prior to an IPO or sale	19,567		15,629	5 to 7	16,892		18,444	5 to 7
Infrastructure	Investments in climate infrastructure assets, focusing on renewable power generation in wind and solar energy	14,716		11,233	10 to 12	7,683		4,107	11
Total limited partnerships		$	79,535	30,314		$	66,846	28,562

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

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

	September 30, 2023			December 31, 2022
(In thousands)	Carrying Value		Fair Value	Carrying Value	Fair Value
Financial Assets:
Policy loans	$	75,750	75,750	78,773	78,773
Residential mortgage loan	43		44	49	50
Cash and cash equivalents	16,785		16,785	22,973	22,973
Financial Liabilities:
Annuity - investment contracts	67,224		59,063	67,344	61,701

Fair Value Option, Disclosures

The following table summarizes the carrying amounts of these investments.

Carrying Value (In thousands)	September 30, 2023		December 31, 2022
Other long-term investments:
Limited partnerships	$	79,535	69,294
FHLB common stock	199		193
Mortgage loans	43		49
All other investments	21		22
Total other long-term investments	$	79,798	69,558