Fair Values of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2021

Fair Values of Financial Instruments [Abstract]

Financial Instruments Carried at Fair Value Measured on a Recurring Basis

As of September 30, 2021, financial instruments carried at fair value were measured on a recurring basis as summarized below:

	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets:
Fixed maturities	$	250	$	256,761	$	—	$	257,011
Equity securities		22,531		—		157		22,688
Cash equivalents		7,384		—		—		7,384
Total	$	30,165	$	256,761	$	157	$	287,083

As of December 31, 2020, financial instruments carried at fair value were measured on a recurring basis as summarized below:

	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets:
Fixed maturities	$	—	$	254,106	$	—	$	254,106
Equity securities		18,573		—		143		18,716
Cash equivalents		12,010		—		—		12,010
Total	$	30,583	$	254,106	$	143	$	284,832

Carrying Amount, Estimated Fair Value and Level within the Fair Value Hierarchy of Financial Instruments

The following table sets forth the carrying amount, estimated fair value and level within the fair value hierarchy of the Company’s financial instruments as of September 30, 2021 and December 31, 2020.

			September 30, 2021				December 31, 2020
	Level in Fair Value Hierarchy (1)		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets:
Cash and cash equivalents	Level 1		$	14,327	$	14,327	$	19,319	$	19,319
Fixed maturities		(1)		257,011		257,011		254,106		254,106
Equity securities		(1)		22,688		22,688		18,716		18,716
Other invested assets	Level 3			3,095		3,095		3,238		3,238
Policy loans	Level 2			1,900		1,900		1,975		1,975
Investment in unconsolidated trusts	Level 2			1,238		1,238		1,238		1,238
Liabilities:
Junior subordinated debentures, net	Level 2			33,738		34,061		33,738		32,297

(1) See the aforementioned information for a description of the fair value hierarchy as well as a disclosure of levels for classes of these financial assets.