Fair Value (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value [Abstract]

Fair Value, Assets Measured on Recurring Basis

The following table presents, for each of the fair value hierarchy levels, assets that are measured at fair value on a recurring basis at September 30, 2020 and December 31, 2019 (in thousands):

	As of September 30, 2020
	Quoted Prices in
	Active Markets for
	Identical Assets		Other Observable		Unobservable
	(Level 1)		Inputs (Level 2)		Inputs (Level 3)		Total
U.S. Treasury securities and obligations of U.S. Government	$	—	$	61,001	$	-	$	61,001
Corporate bonds		—		239,154		325		239,479
Collateralized corporate bank loans		—		55,334		-		55,334
Municipal bonds		—		55,638		-		55,638
Mortgage-backed		—		6,117		-		6,117
Total debt securities		—		417,244		325		417,569
Total equity securities		23,372		—		—		23,372
Total other investments		34		—		—		34
Total investments	$	23,406	$	417,244	$	325	$	440,975

	As of December 31, 2019
	Quoted Prices in
	Active Markets for
	Identical Assets		Other Observable		Unobservable
	(Level 1)		Inputs (Level 2)		Inputs (Level 3)		Total
U.S. Treasury securities and obligations of U.S. Government	$	—	$	66,600	$	—	$	66,600
Corporate bonds		—		300,486		339		300,825
Collateralized corporate bank loans		—		115,757		—		115,757
Municipal bonds		—		83,270		—		83,270
Mortgage-backed		—		7,827		—		7,827
Total debt securities		—		573,940		339		574,279
Total equity securities		99,215		—		—		99,215
Total other investments		2,169		—		—		2,169
Total investments	$	101,384	$	573,940	$	339	$	675,663

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, 2020 and 2019 (in thousands):

Beginning balance as of January 1, 2020	$	339
Sales		—
Settlements		—
Purchases		—
Issuances		—
Total realized/unrealized losses included in net income		—
Net gain included in other comprehensive income		(14)
Transfers into Level 3		—
Transfers out of Level 3		—
Ending balance as of September 30, 2020	$	325

Beginning balance as of January 1, 2019	$	291
Sales		—
Settlements		—
Purchases		—
Issuances		—
Total realized/unrealized gains included in net income		—
Net gains included in other comprehensive income		153
Transfers into Level 3		—
Transfers out of Level 3		—
Ending balance as of September 30, 2019	$	444