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Fair Values of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Fair Values of Financial Instruments [Abstract]

Financial Instruments Carried at Fair Value Measured on a Recurring Basis

As of September 30, 2022, 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	$	—	$	201,828	$	475	$	202,303
Equity securities		13,510		—		157		13,667
Cash equivalents		14,490		—		—		14,490
Total	$	28,000	$	201,828	$	632	$	230,460

As of December 31, 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	$	260,486	$	250	$	260,986
Equity securities		18,967		—		157		19,124
Cash equivalents		12,713		—		—		12,713
Total	$	31,930	$	260,486	$	407	$	292,823

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, 2022 and December 31, 2021.

			September 30, 2022				December 31, 2021
	Level in Fair Value Hierarchy ⁽¹⁾		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets:
Cash and cash equivalents	Level 1		$	21,876	$	21,876	$	24,753	$	24,753
Fixed maturities		⁽¹⁾		202,303		202,303		260,986		260,986
Equity securities		⁽¹⁾		13,667		13,667		19,124		19,124
Other invested assets	Level 3			5,421		5,421		198		198
Policy loans	Level 2			1,797		1,797		1,858		1,858
Investment in unconsolidated trusts	Level 2			1,238		1,238		1,238		1,238

Liabilities:
Junior subordinated debentures, net	Level 2			33,738		33,345		33,738		33,728
Revolving credit facility	Level 2			1,000		1,000		—		—

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