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Investments (Tables)
 12 Months Ended
Dec. 31, 2016
Investments [Abstract]  
Summary of available for sale securities
The following is a summary of available for sale securities at December 31:
          
                
              
Net
 
     
Cost or
  
Gross
  
Gross
  
Unrealized
 
  
Fair
  
Amortized
  
Unrealized
  
Unrealized
  
Gains
 
  
Value
  
Cost
  
Gains
  
Losses
  
(Losses)
 
December 31, 2016
               
Fixed maturities
               
   Agency collateralized mortgage obligations
 
$
6,171
  
$
6,000
  
$
171
  
$
-
  
$
171
 
   Agency mortgage-backed securities
  
4,770
   
4,751
   
57
   
(38
)
  
19
 
   Asset-backed securities
  
45,183
   
45,207
   
458
   
(482
)
  
(24
)
   Bank loans
  
10,349
   
10,222
   
149
   
(22
)
  
127
 
   Certificates of deposit
  
3,117
   
3,126
   
-
   
(9
)
  
(9
)
   Collateralized mortgage obligations
  
9,104
   
9,096
   
290
   
(282
)
  
8
 
   Corporate securities
  
142,683
   
143,356
   
1,643
   
(2,316
)
  
(673
)
   Mortgage-backed securities
  
24,571
   
23,904
   
1,132
   
(465
)
  
667
 
   Municipal obligations
  
129,335
   
130,204
   
391
   
(1,260
)
  
(869
)
   Non-U.S. government obligations
  
24,681
   
26,461
   
230
   
(2,010
)
  
(1,780
)
   U.S. government obligations
  
91,940
   
92,234
   
74
   
(368
)
  
(294
)
      Total fixed maturities
  
491,904
   
494,561
   
4,595
   
(7,252
)
  
(2,657
)
Equity securities:
                    
   Consumer
  
32,576
   
15,231
   
17,656
   
(311
)
  
17,345
 
   Energy
  
12,842
   
5,641
   
7,203
   
(2
)
  
7,201
 
   Financial
  
31,186
   
22,417
   
8,998
   
(229
)
  
8,769
 
   Industrial
  
21,145
   
6,239
   
15,098
   
(192
)
  
14,906
 
   Technology
  
8,858
   
4,117
   
4,769
   
(28
)
  
4,741
 
   Mutual fund
  
6,995
   
6,930
   
121
   
(56
)
  
65
 
   Other
  
6,343
   
4,327
   
2,181
   
(165
)
  
2,016
 
      Total equity securities
  
119,945
   
64,902
   
56,026
   
(983
)
  
55,043
 
                     
      Total
 
$
611,849
  
$
559,463
  
$
60,621
  
$
(8,235
)
  
52,386
 
                     
              
Applicable federal income taxes
   
(18,335
)
                     
              
Net unrealized gains - net of tax
  
$
34,051
 
 
              
Net
 
     
Cost or
  
Gross
  
Gross
  
Unrealized
 
  
Fair
  
Amortized
  
Unrealized
  
Unrealized
  
Gains
 
  
Value
  
Cost
  
Gains
  
Losses
  
(Losses)
 
December 31, 2015
               
Fixed maturities
               
   Agency collateralized mortgage obligations
 
$
-
  
$
-
  
$
-
  
$
-
  
$
-
 
   Agency mortgage-backed securities
  
3,157
   
3,159
   
38
   
(40
)
  
(2
)
   Asset-backed securities
  
44,309
   
45,941
   
393
   
(2,025
)
  
(1,632
)
   Bank loans
  
5,060
   
5,333
   
4
   
(277
)
  
(273
)
   Certificates of deposit
  
3,230
   
3,247
   
-
   
(17
)
  
(17
)
   Collateralized mortgage obligations
  
9,257
   
9,282
   
116
   
(141
)
  
(25
)
   Corporate securities
  
110,511
   
112,615
   
2,123
   
(4,227
)
  
(2,104
)
   Mortgage-backed securities
  
23,892
   
24,138
   
243
   
(489
)
  
(246
)
   Municipal obligations
  
110,578
   
109,932
   
805
   
(159
)
  
646
 
   Non-U.S. government obligations
  
23,945
   
25,483
   
342
   
(1,880
)
  
(1,538
)
   U.S. government obligations
  
103,245
   
103,448
   
56
   
(259
)
  
(203
)
      Total fixed maturities
  
437,184
   
442,578
   
4,120
   
(9,514
)
  
(5,394
)
Equity securities:
                    
   Consumer
  
46,541
   
16,849
   
30,535
   
(843
)
  
29,692
 
   Energy
  
8,635
   
6,152
   
3,323
   
(840
)
  
2,483
 
   Financial
  
35,686
   
24,173
   
12,265
   
(752
)
  
11,513
 
   Industrial
  
24,841
   
9,325
   
15,840
   
(324
)
  
15,516
 
   Technology
  
11,596
   
6,153
   
5,546
   
(103
)
  
5,443
 
   Mutual fund
  
9,983
   
11,022
   
69
   
(1,108
)
  
(1,039
)
   Other
  
8,216
   
6,547
   
2,829
   
(1,160
)
  
1,669
 
      Total equity securities
  
145,498
   
80,221
   
70,407
   
(5,130
)
  
65,277
 
                     
      Total
 
$
582,682
  
$
522,799
  
$
74,527
  
$
(14,644
)
  
59,883
 
                     
              
Applicable federal income taxes
   
(20,959
)
                     
              
Net unrealized gains - net of tax
  
$
38,924
 
Fixed maturity and equity security investments in unrealized loss position
The following table summarizes, for fixed maturity and equity security investments in an unrealized loss position at December 31, the aggregate fair value and gross unrealized loss categorized by the duration those securities have been continuously in an unrealized loss position:
  
2016
  
2015
 
  
Number of Securities
  
Fair Value
  
Gross Unrealized Loss
  
Number of Securities
  
Fair Value
  
Gross Unrealized Loss
 
Fixed maturity securities:
                  
12 months or less
  
397
  
$
291,048
  
$
(4,380
)
  
328
  
$
205,475
  
$
(5,070
)
Greater than 12 months
  
54
   
32,054
   
(2,872
)
  
168
   
108,043
   
(4,444
)
Total fixed maturities
  
451
   
323,102
   
(7,252
)
  
496
   
313,518
   
(9,514
)
Equity securities:
                        
12 months or less
  
35
   
20,698
   
(983
)
  
73
   
26,517
   
(5,130
)
Greater than 12 months
  
-
   
-
   
-
   
-
   
-
   
-
 
Total equity securities
  
35
   
20,698
   
(983
)
  
73
   
26,517
   
(5,130
)
Total
  
486
  
$
343,800
  
$
(8,235
)
  
569
  
$
340,035
  
$
(14,644
)
Fair value and cost or amortized cost of fixed maturity investments by contractual maturity
The fair value and the cost or amortized cost of fixed maturity investments at December 31, 2016, organized by contractual maturity, is shown below.  Actual maturities may differ from contractual maturities because borrowers have, in some cases, the right to call or prepay obligations with or without call or prepayment penalties.  Pre-refunded municipal bonds are classified based on their pre-refunded call dates.
  
Fair Value
  
Cost or Amortized Cost
 
             
One year or less
 
$
87,661
   
17.8
%
 
$
88,139
   
17.8
%
Excess of one year to five years
  
273,874
   
55.7
   
276,995
   
56.0
 
Excess of five years to ten years
  
35,553
   
7.2
   
35,409
   
7.2
 
Excess of ten years
  
5,017
   
1.0
   
5,060
   
1.0
 
   Total maturities
  
402,105
   
81.7
   
405,603
   
82.0
 
Asset-backed securities
  
89,799
   
18.3
   
88,958
   
18.0
 
  
$
491,904
   
100.0
%
 
$
494,561
   
100.0
%
Major categories of investment income
Major categories of investment income for the years ended December 31 are summarized as follows:
 
  
2016
  
2015
  
2014
 
Interest on fixed maturities
 
$
13,254
  
$
11,663
  
$
8,806
 
Dividends on equity securities
  
3,598
   
3,445
   
2,693
 
Money market funds, Short-term and other
  
128
   
32
   
37
 
   
16,980
   
15,140
   
11,536
 
Investment expenses
  
(2,497
)
  
(2,642
)
  
(2,481
)
Net investment income
 
$
14,483
  
$
12,498
  
$
9,055
 
Realized gains (losses) on investments
Gains and losses on investments, including equity method earnings from limited partnerships, for the years ended December 31 are summarized below:
 
  
2016
  
2015
  
2014
 
Fixed maturities:
         
   Gross gains
 
$
11,628
  
$
6,633
  
$
6,480
 
   Gross losses
  
(14,020
)
  
(13,634
)
  
(4,596
)
      Net gains (losses)
  
(2,392
)
  
(7,001
)
  
1,884
 
             
Equity securities:
            
   Gross gains
  
28,742
   
21,070
   
7,467
 
   Gross losses
  
(5,595
)
  
(13,643
)
  
(1,529
)
      Net gains
  
23,147
   
7,427
   
5,938
 
             
Limited partnerships - net gain (loss)
  
2,473
   
(1,687
)
  
7,108
 
             
             
      Total net gains (losses)
 
$
23,228
  
$
(1,261
)
 
$
14,930
 
Schedule of realized gains (losses)
Gain and loss activity for fixed maturity and equity security investments, as shown in the previous table, include adjustments for other-than-temporary impairment for the years ended December 31 summarized as follows:
 
  
2016
  
2015
  
2014
 
          
Cumulative charges to income at beginning of year
 
$
10,513
  
$
7,168
  
$
6,770
 
             
Writedowns based on objective and subjective criteria
  
5,743
   
7,700
   
689
 
Recovery of prior writedowns upon sale or disposal
  
(12,260
)
  
(4,355
)
  
(291
)
Net pre-tax realized gain (loss)
  
6,517
   
(3,345
)
  
(398
)
             
Cumulative charges to income at end of year
 
$
3,996
  
$
10,513
  
$
7,168
 
             
Unrealized gain on investments previously
            
written down at end of the year 1
 
$
2,108
  
$
14,710
  
$
17,127
 
 
1 Recovery in market value of an investment which has previously been adjusted for other-than-temporary impairment is treated as an unrealized gain until the investment matures or is sold.
Financial information of significant limited partnership investment
The summarized financial information of this limited partnership investment as of and for the years ended December 31 is as follows:
 
  
2016
  
2015
  
2014
 
Total assets
 
$
448,263
  
$
511,118
  
$
565,500
 
Total partners' capital
  
408,275
   
470,783
   
542,700
 
Net increase (decrease) in partners' capital resulting from operations
  
(15,679
)
  
(19,603
)
  
125,700