Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Assets Measured for at Fair Value on Recurring Basis

The following tables set forth by level within the fair value hierarchy the Company’s assets measured at fair value on a recurring basis as of the dates presented (in thousands):

	Fair Value Measurements
	March 31, 2020
	Level 1		Level 2		Level 3		Total
Available-For-Sale Debt Securities:
U.S. government obligations and agencies	$	—	$	62,084	$	—	$	62,084
Corporate bonds	—		468,725		—		468,725
Mortgage-backed and asset-backed securities	—		323,382		—		323,382
Municipal bonds	—		3,586		—		3,586
Redeemable preferred stock	—		9,472		—		9,472
Equity Securities:
Common stock	1,904		—		—		1,904
Mutual funds	43,934		—		—		43,934
Total assets accounted for at fair value	$	45,838	$	867,249	$	—	$	913,087

	Fair Value Measurements
	December 31, 2019
	Level 1		Level 2		Level 3		Total
Available-For-Sale Debt Securities:
U.S. government obligations and agencies	$	—	$	54,364	$	—	$	54,364
Corporate bonds	—		476,218		—		476,218
Mortgage-backed and asset-backed securities	—		311,079		—		311,079
Municipal bonds	—		3,496		—		3,496
Redeemable preferred stock	—		10,127		—		10,127
Equity Securities:
Common stock	2,377		—		—		2,377
Mutual funds	41,340		—		—		41,340
Total assets accounted for at fair value	$	43,717	$	855,284	$	—	$	899,001

Summarizes Carrying Value and Estimated Fair Values of Financial Instruments not Carried at Fair Value

The following table summarizes the carrying value and estimated fair values of the Company’s financial instruments not carried at fair value as of the dates presented (in thousands):

	March 31, 2020				December 31, 2019
	Carrying Value		(Level 3) Estimated Fair Value		Carrying Value		(Level 3) Estimated Fair Value
Liabilities (debt):
Surplus note	$	9,559	$	8,975	$	9,926	$	9,365