Investments (Tables)

12 Months Ended

Dec. 31, 2024

Investments [Abstract]

Investments Aggregated by Type and Industry

Fixed maturities were comprised of the following:

	2024
	Estimated Fair Value		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Amortized Cost
Fixed maturities:
Bonds:
U.S. Treasury securities and obligations of U.S. Government agencies and authorities	$	22,251	$	24	$	2,144	$	—	$	24,371
Loan backed and structured securities		22,290		17		2,457		—		24,730
Obligations of states and political subdivisions		7,623		9		1,517		—		9,131
Corporate securities:
Utilities and telecom		24,623		108		3,206		—		27,721
Financial services		59,564		563		4,768		—		63,769
Other business – diversified		34,117		160		3,919		—		37,876
Other consumer – diversified		41,957		33		6,585		—		48,509
Total corporate securities		160,261		864		18,478		—		177,875
Redeemable preferred stocks:
Other consumer – diversified		187		—		5		—		192
Total redeemable preferred stocks		187		—		5		—		192
Total fixed maturities	$	212,612	$	914	$	24,601	$	—	$	236,299

	2023
	Estimated Fair Value		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Amortized Cost
Fixed maturities:
Bonds:
U.S. Treasury securities and obligations of U.S. Government agencies and authorities	$	22,849	$	51	$	1,951	$	—	$	24,749
Loan backed and structures securities		27,210		12		2,993		—		30,191
Obligations of states and political subdivisions		8,106		15		1,424		—		9,515
Corporate securities:
Utilities and telecom		21,309		143		2,582		—		23,748
Financial services		59,584		560		4,931		—		63,955
Other business – diversified		34,386		403		2,940		—		36,923
Other consumer – diversified		44,570		87		4,870		—		49,353
Total corporate securities		159,849		1,193		15,323		—		173,979
Redeemable preferred stocks:
Other consumer – diversified		205		13		—		—		192
Total redeemable preferred stocks		205		13		—		—		192
Total fixed maturities	$	218,219	$	1,284	$	21,691	$	—	$	238,626

Bonds having an amortized cost of $15,065 and $14,647 and included in the tables above were on deposit with insurance regulatory authorities at December 31, 2024 and 2023, respectively, in accordance with statutory requirements. In addition, the Company maintains cash and cash equivalents on deposit with insurance regulatory authorities of $226 at December 31, 2024 and 2023. Additionally, bonds having an amortized cost of $9,209 and $9,584 and included in the tables above were pledged as collateral to FHLB at December 31, 2024 and 2023, respectively.

	2024
	Estimated Fair Value		Gross Unrealized Gains		Gross Unrealized Losses		Cost
Equity securities:
Common and non-redeemable preferred stocks:
Financial services		1,149		843		—		306
Communications		6,751		2,118		—		4,633
Total equity securities	$	7,900	$	2,961	$	—	$	4,939

	2023
	Estimated Fair Value		Gross Unrealized Gains		Gross Unrealized Losses		Cost
Equity securities:
Common and non-redeemable preferred stocks:
Financial services		924		621		—		303
Communications		8,489		3,856		—		4,633
Total equity securities	$	9,413	$	4,477	$	—	$	4,936

Amortized Cost and Carrying Value of Fixed Maturities by Contractual Maturity

The carrying value and amortized cost of the Company’s investments in fixed maturities at December 31, 2024 and 2023 by contractual maturity were as follows. Actual maturities may differ from contractual maturities because issuers may call or prepay obligations with or without call or prepayment penalties.

	2024				2023
	Carrying Value		Amortized Cost		Carrying Value		Amortized Cost
Due in one year or less	$	7,484	$	7,497	$	1,715	$	1,750
Due after one year through five years		62,722		64,703		60,423		62,423
Due after five years through ten years		32,820		35,552		33,596		36,752
Due after ten years		80,199		95,466		86,857		97,984
Asset backed securities		29,387		33,081		35,628		39,717
Totals	$	212,612	$	236,299	$	218,219	$	238,626

Investment Securities with Continuous Unrealized Loss Position

The following tables present the Company’s unrealized loss aging for securities by type and length of time the security was in a continuous unrealized loss position as of December 31, 2024 and 2023.

	2024
	Less than 12 months				12 months or longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. Treasury securities and obligations of U.S. Government agencies and authorities	$	3,753	$	33	$	16,136	$	2,111	$	19,889	$	2,144
Loan backed and structured securities		1,010		5		16,069		2,452		17,079		2,457
Obligations of states and political subdivisions		—		—		5,839		1,517		5,839		1,517
Corporate securities		18,510		755		125,930		17,723		144,440		18,478
Redeemable preferred stocks		188		5		—		—		188		5
Total temporarily impaired securities	$	23,461	$	798	$	163,974	$	23,803	$	187,435	$	24,601

	2023
	Less than 12 months						12 months or longer						Total
	Fair Value			Unrealized Losses			Fair Value			Unrealized Losses			Fair Value			Unrealized Losses
U.S. Treasury securities and obligations of U.S. Government agencies and authorities		$	4,197		$	17		$	15,639		$	1,934		$	19,836		$	1,951
Loan backed and structured securities			997			20			23,837			2,973			24,834			2,993
Obligations of states and political subdivisions			1,145			3			5,936			1,421			7,081			1,424
Corporate securities			539			13			138,283			15,310			138,822			15,323
Total temporarily impaired securities		$	6,878		$	53		$	183,695		$	21,638		$	190,573		$	21,691

Investment Income Earned

Investment income was earned from the following sources:

	2024		2023
Fixed maturities	$	9,520	$	9,333
Equity securities		335		332
Other		191		646
		10,046		10,311
Investment expenses		255		253
Net investment income	$	9,791	$	10,058

Summary of Realized Investment Gains (Losses)

A summary of realized investment gains (losses) follows:

	2024
	Fixed Maturities			Equity Securities		Other Invested Assets		Total
Gains	$	19		$	—	$	1,193	$	1,212
Losses		(2	)		—		—		(2	)
Realized investment gains, net	$	17		$	—	$	1,193	$	1,210

	2023
	Fixed Maturities		Equity Securities		Other Invested Assets		Total
Gains	$	70	$	—	$	—	$	70
Losses		—		—		—		—
Realized investment gains, net	$	70	$	—	$	—	$	70

Proceeds from Sales of Investments

Proceeds from the sales of available-for-sale fixed maturities were as follows:

	2024		2023
Sales proceeds	$	—	$	5,035
Gross gains		—		70
Gross losses		—		—

Proceeds from the sales of equity securities were as follows:

	2024		2023
Sales proceeds	$	—	$	2
Gross gains		—		—
Gross losses		—		—

Proceeds from the sales of other invested assets were as follows:

	2024		2023
Sales proceeds	$	2,510	$	—
Gross gains		1,193		—
Gross losses		—		—

Unrealized Gains (Losses) on Equity Securities

The following table presents the portion of unrealized gains (losses) related to equity securities still held for the years ended December 31, 2024 and 2023.

	2024			2023
Net realized and unrealized losses recognized during the period on equity securities	$	(1,516	)	$	(2,177	)
Less: Net realized gains recognized during the period on equity securities sold during the period		—			—
Unrealized losses on equity securities, net	$	(1,516	)	$	(2,177	)