Fair Value (Tables)

9 Months Ended

Sep. 30, 2022

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, 2022 and December 31, 2021 (in thousands):

	As of September 30, 2022
	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	$	—	$	41,132	$	—	$	41,132
Corporate bonds		—		257,409		—		257,409
Corporate bank loans		—		75,011		—		75,011
Municipal bonds		—		42,024		—		42,024
Mortgage-backed		—		1,477		—		1,477
Total debt securities		—		417,053		—		417,053
Total equity securities		41,002		—		—		41,002
Total investments	$	41,002	$	417,053	$	—	$	458,055

	As of December 31, 2021
	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	$	—	$	62,984	$	—	$	62,984
Corporate bonds		—		105,234		347		105,581
Corporate bank loans		—		81,189		—		81,189
Municipal bonds		—		38,464		—		38,464
Mortgage-backed		—		1,855		—		1,855
Total debt securities		—		289,726		347		290,073
Total equity securities		48,695		—		—		48,695
Total investments	$	48,695	$	289,726	$	347	$	338,768

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, 2022 and 2021 (in thousands):

Beginning balance as of January 1, 2022	$	347
Sales		—
Settlements		(347)
Purchases		—
Issuances		—
Total realized/unrealized losses included in net income		—
Net gain included in other comprehensive income		—
Transfers into Level 3		—
Transfers out of Level 3		—
Ending balance as of September 30, 2022	$	—

Beginning balance as of January 1, 2021	$	348
Sales		—
Settlements		—
Purchases		—
Issuances		—
Total realized/unrealized gains included in net loss		—
Net gains included in other comprehensive loss		8
Transfers into Level 3		—
Transfers out of Level 3		—
Ending balance as of September 30, 2021	$	356