Fair Value (Tables)

9 Months Ended

Sep. 30, 2018

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, 2018 and December 31, 2017 (in thousands):

	As of September 30, 2018
	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	$	-	$	47,866	$	-	$	47,866
Corporate bonds		-		249,177		325		249,502
Collateralized corporate bank loans		-		135,309		-		135,309
Municipal bonds		-		127,044		-		127,044
Mortgage-backed		-		14,749		-		14,749
Total debt securities		-		574,145		325		574,470
Total equity securities		70,152		-		-		70,152
Total other investments		3,085		-		-		3,085
Total investments	$	73,237	$	574,145	$	325	$	647,707

	As of December 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	$	-	$	49,947	$	-	$	49,947
Corporate bonds		-		278,760		313		279,073
Collateralized corporate bank loans		-		125,937		-		125,937
Municipal bonds		-		131,433		2,823		134,256
Mortgage-backed		-		16,533		-		16,533
Total debt securities		-		602,610		3,136		605,746
Total equity securities		51,142		-		621		51,763
Total other investments		3,824		-		-		3,824
Total investments	$	54,966	$	602,610	$	3,757	$	661,333

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, 2018 and 2017 (in thousands): 

Beginning balance as of January 1, 2018	$	3,757
Sales		(2,925)
Settlements		-
Purchases		-
Issuances		-
Total realized/unrealized gains included in net income		114
Net gains included in other comprehensive income		-
Transfers into Level 3		-
Transfers out of Level 3		(621)
Ending balance as of September 30, 2018	$	325
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