Fair Value (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value [Abstract]

Fair Value, Assets Measured on Recurring Basis

The following table presents for each of the fair value hierarchy levels, our assets that are measured at fair value on a recurring basis at March 31, 2017 and December 31, 2016 (in thousands):

	As of March 31, 2017
	Quoted Prices in		Other
	Active Markets for		Observable		Unobservable
	Identical Assets		Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
U.S. Treasury securities and obligations of U.S. Government	$	-	$	42,005	$	-	$	42,005
Corporate bonds		-		231,891		869		232,760
Collateralized corporate bank loans		-		111,346		-		111,346
Municipal bonds		-		160,134		5,786		165,920
Mortgage-backed		-		53,302		-		53,302
Total debt securities		-		598,678		6,655		605,333
Total equity securities		52,891		-		265		53,156
Total other investments		4,510		-		-		4,510
Total investments	$	57,401	$	598,678	$	6,920	$	662,999

	As of December 31, 2016
	Quoted Prices in		Other
	Active Markets for		Observable		Unobservable
	Identical Assets		Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
U.S. Treasury securities and obligations of U.S. Government	$	-	$	42,022	$	-	$	42,022
Corporate bonds		-		226,062		-		226,062
Collateralized corporate bank loans		-		106,009		-		106,009
Municipal bonds		-		158,216		5,679		163,895
Mortgage-backed		-		59,469		-		59,469
Total debt securities		-		591,778		5,679		597,457
Total equity securities		51,445		-		266		51,711
Total other investments		4,951		-		-		4,951
Total investments	$	56,396	$	591,778	$	5,945	$	654,119

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table summarizes the changes in fair value for all financial assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2017 and 2016 (in thousands): 

Beginning balance as of January 1, 2017	$	5,945
Sales		-
Settlements		-
Purchases		775
Issuances		-
Total realized/unrealized gains included in net income		-
Net gains included in other comprehensive income		200
Transfers into Level 3		-
Transfers out of Level 3		-
Ending balance as of March 31, 2017	$	6,920
Beginning balance as of January 1, 2016	$	14,087
Sales		-
Settlements		-
Purchases		-
Issuances		-
Total realized/unrealized gains included in net income		-
Net gains included in other comprehensive income		29
Transfers into Level 3		622
Transfers out of Level 3		-
Ending balance as of March 31, 2016	$	14,738