Fair Value (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2017 and December 31, 2016 (in thousands):

	As of June 30, 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	$	-	$	42,011	$	-	$	42,011
Corporate bonds		-		252,844		823		253,667
Collateralized corporate bank loans		-		123,806		-		123,806
Municipal bonds		-		148,158		5,659		153,817
Mortgage-backed		-		34,773		-		34,773
Total debt securities		-		601,592		6,482		608,074
Total equity securities		55,856		-		621		56,477
Total other investments		4,448		-		-		4,448
Total investments	$	60,304	$	601,592	$	7,103	$	668,999

	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 six months ended June 30, 2017 and 2016 (in thousands): 

Beginning balance as of January 1, 2017	$	5,945
Sales		-
Settlements		(150)
Purchases		775
Issuances		-
Total realized/unrealized gains included in net income		-
Net gains included in other comprehensive income		533
Transfers into Level 3		-
Transfers out of Level 3		-
Ending balance as of June 30, 2017	$	7,103
Beginning balance as of January 1, 2016	$	14,087
Sales		-
Settlements		(6,025)
Purchases		-
Issuances		-
Total realized/unrealized gains included in net income		-
Net gains included in other comprehensive income		208
Transfers into Level 3		265
Transfers out of Level 3		-
Ending balance as of June 30, 2016	$	8,535