Fair Value (Tables)

9 Months Ended

Sep. 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 September 30, 2017 and December 31, 2016 (in thousands):

	As of September 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	$	-	$	42,034	$	-	$	42,034
Corporate bonds		-		283,858		763		284,621
Collateralized corporate bank loans		-		123,243		-		123,243
Municipal bonds		-		143,190		5,793		148,983
Mortgage-backed		-		19,353		-		19,353
Total debt securities		-		611,678		6,556		618,234
Total equity securities		47,178		-		621		47,799
Total other investments		4,221		-		-		4,221
Total investments	$	51,399	$	611,678	$	7,177	$	670,254

	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 nine months ended September 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		607
Transfers into Level 3		-
Transfers out of Level 3		-
Ending balance as of September 30, 2017	$	7,177
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		160
Transfers into Level 3		265
Transfers out of Level 3		-
Ending balance as of September 30, 2016	$	8,487