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Fair Values of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2025

Fair Values of Financial Instruments [Abstract]

Financial Instruments Carried at Fair Value Measured on a Recurring Basis

As of March 31, 2025, 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		$	—			$	214,443			$	—			$	214,443
Equity securities			8,479				—				192				8,671
Cash equivalents			18,832				—				—				18,832
Total		$	27,311			$	214,443			$	192			$	241,946

As of December 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		$	—			$	212,612			$	—			$	212,612
Equity securities			7,711				—				189				7,900
Cash equivalents			14,948				—				—				14,948
Total		$	22,659			$	212,612			$	189			$	235,460

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, 2025 and December 31, 2024.

				March 31, 2025								December 31, 2024
	Level in Fair Value Hierarchy ⁽¹⁾			Carrying Amount				Estimated Fair Value				Carrying Amount				Estimated Fair Value
Assets:
Cash and cash equivalents	Level 1			$	35,903			$	35,903			$	35,570			$	35,570
Fixed maturities	Level 2				214,443				214,443				212,612				212,612
Equity securities	⁽¹⁾				8,671				8,671				7,900				7,900
Policy loans	Level 3				1,670				1,670				1,722				1,722

Liabilities:
Junior subordinated debentures, net	Level 2				33,738				33,309				33,738				35,443
Revolving credit facility	Level 2				4,022				4,022				4,023				4,023

(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.