Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

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 measured at fair value on a recurring basis as of the dates indicated.

March 31, 2024	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	$	5,974	3,596	—	9,570
States and political subdivisions	—		285,055	—	285,055
Corporate	46		789,399	—	789,445
Commercial mortgage-backed	—		272	—	272
Residential mortgage-backed	—		94,848	—	94,848
Asset-backed	—		54,858	—	54,858
Total fixed maturity securities, available-for-sale	6,020		1,228,028	—	1,234,048
Equity securities:
Bond mutual funds	739		—	—	739
Common stock	664		—	—	664
Non-redeemable preferred stock	7		—	—	7
Non-redeemable preferred stock fund	4,009		—	—	4,009
Total equity securities	5,419		—	—	5,419
Other long-term investments (1)	—		—	—	84,853
Total financial assets	$	11,439	1,228,028	—	1,324,320

(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, 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	$	6,062	3,653	—	9,715
States and political subdivisions	—		287,231	—	287,231
Corporate	43		787,564	—	787,607
Commercial mortgage-backed	—		171	—	171
Residential mortgage-backed	—		97,123	—	97,123
Asset-backed	—		57,134	—	57,134
Total fixed maturity securities, available-for-sale	6,105		1,232,876	—	1,238,981
Equity securities:
Bond mutual funds	740		—	—	740
Common stock	665		—	—	665
Non-redeemable preferred stock	7		—	—	7
Non-redeemable preferred stock fund	3,870		—	—	3,870
Total equity securities	5,282		—	—	5,282
Other long-term investments (1)	—		—	—	82,460
Total financial assets	$	11,387	1,232,876	—	1,326,723
(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.

		March 31, 2024				December 31, 2023
(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	$	35,648	3,452	3	$	34,858	3,452	4
Global equity fund	Investments in common stocks of U.S., international developed and emerging markets with a focus on long-term capital growth	11,056		—	0	10,345		—	0
Late-stage growth	Investments in private late-stage, established companies seeking capital to accelerate growth prior to an IPO or sale	21,116		12,861	4 to 6	20,524		14,271	4 to 6
Infrastructure	Investments in climate infrastructure assets, focusing on renewable power generation in wind and solar energy	17,033		9,367	9 to 11	16,733		9,576	10
Total limited partnerships		$	84,853	25,680		$	82,460	27,299

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:

	March 31, 2024			December 31, 2023
(In thousands)	Carrying Value		Fair Value	Carrying Value	Fair Value
Financial assets:
Policy loans	$	75,274	75,274	75,359	75,359
Residential mortgage loan	39		40	42	42
Cash and cash equivalents	23,242		23,242	26,997	26,997
Financial liabilities:
Annuity - investment contracts	67,518		61,576	67,690	63,283

Fair Value Option, Disclosures

The following table summarizes the carrying amounts of these investments.

Carrying Value (In thousands)	March 31, 2024		December 31, 2023
Other long-term investments:
Limited partnerships	$	84,853	82,460
FHLB common stock	204		202
Mortgage loans	39		42
All other investments	22		21
Total other long-term investments	$	85,118	82,725