Investments

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

The following tables show the cost or amortized cost, gross unrealized gains and losses, and fair value of the Company's fixed maturity securities as of the dates indicated:


	December 31, 2021
	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Fixed maturity securities:
U.S. government and government agencies and authorities	$	0.9	$	—	$	—	$	0.9
States, municipalities and political subdivisions	0.5		—		—		0.5
Foreign governments	0.5		0.1		—		0.6

Residential mortgage-backed	4.4		—		—		4.4
Commercial mortgage-backed	2.0		—		—		2.0
U.S. corporate	16.2		1.9		—		18.1
Foreign corporate	5.6		0.7		—		6.3
Total fixed maturity securities	$	30.1	$	2.7	$	—	$	32.8

	December 31, 2020
	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Fixed maturity securities:
U.S. government and government agencies and authorities	$	0.9	$	—	$	—	$	0.9
States, municipalities and political subdivisions	2.0		0.1		—		2.1
Foreign governments	0.3		0.1		—		0.4

Residential mortgage-backed	1.1		0.1		—		1.2
Commercial mortgage-backed	0.7		—		—		0.7
U.S. corporate	27.0		3.0		—		30.0
Foreign corporate	6.4		0.9		—		7.3
Total fixed maturity securities	$	38.4	$	4.2	$	—	$	42.6

The cost or amortized cost and fair value of fixed maturity securities at December 31, 2021 by contractual maturity are shown below. Actual maturities may differ from contractual maturities because issuers of the securities may have the right to call or prepay obligations with or without call or prepayment penalties.


	December 31, 2021
	Cost or Amortized Cost		Fair Value
Due in one year or less	$	2.5	$	2.5
Due after one year through five years	11.8		12.2
Due after five years through ten years	7.4		8.6
Due after ten years	2.0		3.0
Total	23.7		26.3

Residential mortgage-backed	4.4		4.5
Commercial mortgage-backed	2.0		2.0
Total	$	30.1	$	32.8

The following table shows the major categories of net investment income for the periods indicated:


	Years Ended December 31,
	2021		2020		2019
Fixed maturity securities	$	1.4	$	1.7	$	1.9

Other	—		—		0.1
Total investment income	1.4		1.7		2.0
Investment expenses	(0.1)		(0.1)		(0.1)
Net investment income	$	1.3	$	1.6	$	1.9

No material investments of the Company were non-income producing for the years ended December 31, 2021, 2020 and 2019.

The following table summarizes the proceeds from sales of available-for-sale fixed maturities and the gross realized gains and gross realized losses that have been recognized in the statement of operations as a result of those sales for the periods indicated:


	Years Ended December 31,
	2021		2020		2019
Proceeds from sales	$	9.1	$	0.5	$	11.6
Gross realized gains	0.2		0.1		—
Gross realized losses	—		—		—
Net realized gains (losses) from sales of fixed maturity securities	$	0.2	$	0.1	$	—

The following table sets forth the net realized gains (losses) recognized in the statement of operations for the periods indicated:


	Years Ended December 31,
	2021		2020		2019
Net realized gains (losses) related to sales:
Net realized gains (losses) from sales of fixed maturity securities	$	0.2	$	0.1	$	—

The Company had fixed maturity securities of $0.9 million as of December 31, 2021 and 2020, respectively, on deposit with various governmental authorities as required by law.