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Fair Values of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Fair Values of Financial Instruments [Abstract]

Financial Instruments Carried at Fair Value Measured on a Recurring Basis

As of March 31, 2024, 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		$	—			$	218,420			$	—			$	218,420
Equity securities			9,114				—				189				9,303
Cash equivalents			13,309				—				—				13,309
Total		$	22,423			$	218,420			$	189			$	241,032

As of December 31, 2023, 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		$	—			$	218,219			$	—			$	218,219
Equity securities			9,228				—				185				9,413
Cash equivalents			14,834				—				—				14,834
Total		$	24,062			$	218,219			$	185			$	242,466

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 March 31, 2024 and December 31, 2023.

				March 31, 2024								December 31, 2023
	Level in Fair Value Hierarchy ⁽¹⁾			Carrying Amount				Estimated Fair Value				Carrying Amount				Estimated Fair Value
Assets:
Cash and cash equivalents	Level 1			$	21,189			$	21,189			$	28,301			$	28,301
Fixed maturities	Level 2				218,420				218,420				218,219				218,219
Equity securities	⁽¹⁾				9,303				9,303				9,413				9,413
Policy loans	Level 3				1,810				1,810				1,778				1,778

Liabilities:
Junior subordinated debentures, net	Level 2				33,738				34,508				33,738				33,670
Revolving credit facility	Level 2				4,024				4,024				3,019				3,019

(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.