Fair Value Disclosures (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of the Company's fair value hierarchy for assets and liabilities measured at fair value on a recurring basis

	December 31, 2014
	Total		Level 1			Level 2			Level 3
Financial Assets
Fixed maturity securities:
United States Government and government agencies and authorities	$	797	$	0		$	797		$	0
State, municipalities and political subdivisions	28,918		0			28,918			0
Foreign governments	376		0			376			0
Commercial mortgage-backed	499		0			499			0
Residential mortgage-backed	7,701		0			7,701			0
Corporate	59,178		0			57,970			1,208
Equity securities:
Non-redeemable preferred stocks	7,968		0			7,968			0
Short-term investments	7,202		7,202		(b)	0			0
Cash equivalents	50		50		(b)	0			0
Assets held in separate accounts	11,930		8,028		(a)	3,902		(c)	0
Total financial assets	$	124,619	$	15,280		$	108,131		$	1,208

Financial Liabilities
Liabilities related to separate accounts	$	11,930	$	8,028	(a)	$	3,902	(c)	$	0

	December 31, 2013
	Total		Level 1			Level 2			Level 3
Financial Assets
Fixed maturity securities:
United States Government and government agencies and authorities	$	737	$	0		$	737		$	0
State, municipalities and political subdivisions	28,422		0			27,321			1,101
Foreign governments	338		0			338			0
Commercial mortgage-backed	752		0			752			0
Residential mortgage-backed	7,651		0			7,651			0
Corporate	66,179		0			64,871			1,308
Equity securities:
Non-redeemable preferred stocks	7,200		0			7,200			0
Short-term investments	1,911		1,911		(b)	0			0
Cash equivalents	610		610		(b)	0			0
Assets held in separate accounts	11,978		9,650		(a)	2,328		(c)	0
Total financial assets	$	125,778	$	12,171		$	111,198		$	2,409

Financial Liabilities
Liabilities related to separate accounts	$	11,978	$	9,650	(a)	$	2,328	(c)	$	0

(a)

Mainly includes mutual funds.

(b)

Mainly includes money market funds.

(c)

Mainly includes fixed maturity securities.

Summary of the change in balance sheet carrying value associated with Level 3 financial assets carried at fair value

	Year Ended December 31, 2014
	Balance, beginning of period		Total losses (realized/ unrealized) included in earnings (1)			Net unrealized gains included in other comprehensive income (2)		Purchases		Sales			Transfers in (3)		Transfers out (3)			Balance, end of period
Fixed Maturity Securities
States, municipalities and political subdivisions	$	1,101	$	0		$	0	$	0	$	0		$	0	$	(1,101	)	$	0
Corporate	1,308		(13		)	13		232		(332		)	0		0			1,208
Total level 3 assets	$	2,409	$	(13	)	$	13	$	232	$	(332	)	$	0	$	(1,101	)	$	1,208

	Year Ended December 31, 2013
	Balance, beginning of period		Total gains (realized/ unrealized) included in earnings (1)		Net unrealized (losses) gains included in other comprehensive income (2)			Purchases		Sales			Transfers in (3)		Transfers out (3)			Balance, end of period
Fixed Maturity Securities
States, municipalities and political subdivisions	$	0	$	0	$	81		$	1,020	$	0		$	0	$	0		$	1,101
Corporate	1,483		290		(92		)	0		(412		)	288		(249		)	1,308
Equity Securities
Non-redeemable preferred stocks	1		0		0			0		0			0		(1		)	0
Total level 3 assets	$	1,484	$	290	$	(11	)	$	1,020	$	(412	)	$	288	$	(250	)	$	2,409

(1)

Included as part of net realized gains on investments in the statement of operations.

(2)

Included as part of change in unrealized gains on securities in the statement of comprehensive income.

(3)

Transfers are primarily attributable to changes in the availability of observable market information and re-evaluation of the observability of pricing inputs.

Schedule of carrying value, fair value amount and hierarchy level of the financial instruments that are not recognized or are not carried at fair value

	December 31, 2014
			Fair Value
	Carrying Value		Total		Level 1		Level 2		Level 3
Financial Assets
Commercial mortgage loans on real estate	$	19,772	$	22,366	$	0	$	0	$	22,366
Policy loans	217		217		217		0		0
Other investments	172		172		0		0		172
Total financial assets	$	20,161	$	22,755	$	217	$	0	$	22,538

Financial Liabilities
Policy reserves under investment products (Individual and group annuities, subject to discretionary withdrawal)(1)	$	4,487	$	5,074	$	0	$	0	$	5,074
Funds withheld under reinsurance	167		167		167		0		0
Total financial liabilities	$	4,654	$	5,241	$	167	$	0	$	5,074

	December 31, 2013
			Fair Value
	Carrying Value		Total		Level 1		Level 2		Level 3
Financial Assets
Commercial mortgage loans on real estate	$	24,959	$	27,981	$	0	$	0	$	27,981
Policy loans	219		219		219		0		0
Total financial assets	$	25,178	$	28,200	$	219	$	0	$	27,981

Financial Liabilities
Policy reserves under investment products (Individual and group annuities, subject to discretionary withdrawal)(1)	$	4,007	$	4,261	$	0	$	0	$	4,261
Funds withheld under reinsurance	159		159		159		0		0
Total financial liabilities	$	4,166	$	4,420	$	159	$	0	$	4,261

(1)

Only the fair value of the Company’s policy reserves for investment-type contracts (those without significant mortality or morbidity risk) are reflected in the table above.

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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