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Summary of Investments (Tables)
 12 Months Ended
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Fair Value of Investments The table that follows is a reconciliation of the amortized cost (cost for equity securities) to fair value of investments in available-for-sale fixed maturity securities, presented on a consolidated basis as of December 31, 2022 and 2021.
December 31, 2022
Type of InvestmentCost or Amortized Cost Gross Unrealized Appreciation Gross Unrealized Depreciation Fair ValueAllowance for Credit LossesCarrying Value
AVAILABLE-FOR-SALE
Fixed maturities:
Bonds
U.S. Treasury$15,684 $— $1,009 $14,675 $— $14,675 
U.S. government agency94,092 35 9,721 84,406 — 84,406 
States, municipalities and political subdivisions
General obligations:
Midwest61,191 185 263 61,113 — 61,113 
Northeast15,518 18 73 15,463 — 15,463 
South64,851 57 927 63,981 — 63,981 
West87,094 163 712 86,545 — 86,545 
Special revenue:
Midwest103,107 224 1,065 102,266 — 102,266 
Northeast55,292 76 1,148 54,220 — 54,220 
South184,108 278 3,529 180,857 — 180,857 
West113,594 275 1,657 112,212 — 112,212 
Foreign bonds36,129 — 4,480 31,649 — 31,649 
Public utilities138,752 65 13,406 125,411 — 125,411 
Corporate bonds
Energy36,507 — 3,298 33,209 — 33,209 
Industrials58,334 62 5,554 52,842 — 52,842 
Consumer goods and services100,539 — 10,598 89,941 — 89,941 
Health care32,987 24 5,419 27,592 — 27,592 
Technology, media and telecommunications67,193 — 7,253 59,940 — 59,940 
Financial services132,849 851 9,408 124,292 3 124,289 
Mortgage-backed securities20,450 — 2,750 17,700 — 17,700 
Collateralized mortgage obligations
Government national mortgage association97,839 — 13,291 84,548 — 84,548 
Federal home loan mortgage corporation92,366 — 13,528 78,838 — 78,838 
Federal national mortgage association50,272 5 4,891 45,386 — 45,386 
Asset-backed securities3,932 466 145 4,253 — 4,253 
Redeemable preferred stocks— — — — — 
Total Available-for-Sale Fixed Maturities$1,662,680 $2,784 $114,125 $1,551,339 $3 $1,551,336 
December 31, 2021
Type of InvestmentCost or Amortized Cost Gross Unrealized Appreciation Gross Unrealized Depreciation Fair ValueAllowance for Credit LossesCarrying Value
AVAILABLE-FOR-SALE
Fixed maturities:
Bonds
U.S. Treasury$42,425 $216 $718 $41,923 $— $41,923 
U.S. government agency60,074 2,155 562 61,667 — 61,667 
States, municipalities and political subdivisions
General obligations:
Midwest71,863 2,483 — 74,346 — 74,346 
Northeast22,061 701 — 22,762 — 22,762 
South90,171 3,873 — 94,044 — 94,044 
West93,968 5,110 — 99,078 — 99,078 
Special revenue:
Midwest114,997 7,292 — 122,289 — 122,289 
Northeast55,811 3,921 — 59,732 — 59,732 
South201,383 14,365 78 215,670 — 215,670 
West126,521 8,128 — 134,649 — 134,649 
Foreign bonds30,314 789 197 30,906 — 30,906 
Public utilities104,008 3,966 481 107,493 — 107,493 
Corporate bonds
Energy31,011 1,751 81 32,681 — 32,681 
Industrials55,014 2,319 162 57,171 — 57,171 
Consumer goods and services71,543 1,912 611 72,844 — 72,844 
Health care27,351 539 461 27,429 — 27,429 
Technology, media and telecommunications55,405 2,958 866 57,497 — 57,497 
Financial services98,352 4,394 131 102,615 — 102,615 
Mortgage-backed securities25,075 167 229 25,013 — 25,013 
Collateralized mortgage obligations
Government national mortgage association109,968 2,322 1,772 110,518 — 110,518 
Federal home loan mortgage corporation120,911 736 1,658 119,989 — 119,989 
Federal national mortgage association48,246 945 642 48,549 — 48,549 
Asset-backed securities325 600 — 925 — 925 
Redeemable preferred stocks— — — — — — 
Total Available-for-Sale Fixed Maturities$1,656,797 $71,642 $8,649 $1,719,790 $— $1,719,790 
Schedule of Maturities The amortized cost and fair value of available-for-sale fixed maturity securities at December 31, 2022, by contractual maturity, are shown in the following table. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Asset-backed securities, mortgage-backed securities and collateralized mortgage obligations may be subject to prepayment risk and are therefore not categorized by contractual maturity.
Maturities
 Available-For-Sale
December 31, 2022 Amortized Cost Fair Value
Due in one year or less $35,745  $35,549 
Due after one year through five years 461,716  448,758 
Due after five years through 10 years 539,189  501,171 
Due after 10 years 361,171  335,136 
Asset-backed securities3,932 4,254 
Mortgage-backed securities 20,450  17,700 
Collateralized mortgage obligations 240,477  208,771 
  $1,662,680  $1,551,339 
Summary of Net Realized Investment Gains (Losses) A summary of net investment gains (losses) for 2022, 2021 and 2020, is as follows:
2022 20212020
Net investment gains (losses)   
Fixed maturities:
Available-for-sale$(1,397)$(277)$1,787 
Allowance for Credit Losses(3)5 (5)
Trading securities
Change in fair value— — (3,314)
Sales— — 2,950 
Equity securities:
Change in fair value(12,802)30,682 (6,875)
Sales(1,767)14,444 (26,906)
Mortgage loans109 5 (4)
Other long-term assets(267) 2,780 — 
Real Estate235 (256)(28)
   Total net investment gains (losses)$(15,892)$47,383 $(32,395)
Schedule of Proceeds and Gross Realized Gains (Losses)
The proceeds and gross realized gains (losses) on the sale of available-for-sale fixed maturity securities for 2022, 2021 and 2020, are as follows:
2022 20212020
Proceeds from sales$83,559  $180,514 $50,744 
Gross realized gains459  843 1,400 
Gross realized losses1,857  1,120 495 
Schedule of Net Investment Income
Net investment income for the years ended December 31, 2022, 2021 and 2020, is comprised of the following:
Years Ended December 31,2022 20212020
Investment income:
Interest on fixed maturities$48,702 $43,224 $46,478 
Dividends on equity securities5,163 5,031 6,368 
Income on other long-term investments
Investment income4,742 4,481 1,890 
Change in value (1)
(7,930)9,699 (9,633)
Interest on mortgage loans1,897 1,995 1,949 
Interest on short-term investments354 18 107 
Interest on cash and cash equivalents740 252 763 
Other780 152 205 
Total investment income$54,448 $64,852 $48,127 
Less investment expenses9,516 9,074 8,457 
Net investment income$44,932 $55,778 $39,670 
(1)Represents the change in value of our interests in limited liability partnerships that are recorded on the equity method of accounting.
Schedule of Rollforward of Allowance for Credit Losses for Available-for-Sale Fixed Maturity Securities The following table contains a rollforward of the allowance for credit losses for available-for-sale fixed maturity securities at December 31, 2022:
Rollforward of allowance for credit losses for available-for-sale fixed maturity securities:
As of
December 31, 2022
Beginning balance, January 1, 2022$— 
Additions to the allowance for credit losses for which credit losses were not previously recorded3
Reductions for securities sold during the period (realized)— 
Writeoffs charged against the allowance— 
Recoveries of amounts previously written off— 
Ending balance, December 31, 2022$3 
Summary of Changes in Net Unrealized Investment Appreciation
A summary of changes in net unrealized investment appreciation for 2022, 2021 and 2020, is as follows:
2022 20212020
Change in net unrealized investment appreciation (depreciation)   
Available-for-sale fixed maturities$(174,858)$(42,159)$45,305 
Income tax effect36,720  8,858 (9,514)
Total change in net unrealized investment appreciation (depreciation), net of tax$(138,138) $(33,301)$35,791 
Summary of Investments in Unrealized Loss Position The following tables summarize our fixed maturity securities that were in an unrealized loss position reported on a consolidated basis at December 31, 2022 and 2021. The securities are presented by the length of time they have been continuously in an unrealized loss position. Non-credit related unrealized losses are recognized as a component of other comprehensive income and represent other market movements that are not credit related, for example, interest rate changes. We have no intent to sell, and it is more likely than not that we will not be required to sell, these securities until the fair value recovers to at least equal our cost basis or the securities mature.
December 31, 2022Less than 12 months12 months or longerTotal
Type of InvestmentNumber
of Issues		Fair
Value		Gross Unrealized
Depreciation		Number
of Issues		Fair
Value		Gross Unrealized DepreciationFair
Value		Gross Unrealized Depreciation
AVAILABLE-FOR-SALE
Fixed maturities:
Bonds
U.S. Treasury4 $6,656 $212 4 $8,019 $797 $14,675 $1,009 
U.S. government agency24 70,158 5,606 3 11,242 4,115 81,400 9,721 
States, municipalities and political subdivisions
General obligations:
Midwest16 29,089 263 ———29,089 263 
Northeast4 8,576 73 ———8,576 73 
South24 48,235 927 ———48,235 927 
West27 62,652 711 ———62,652 711 
Special revenue:
Midwest35 67,101 1,065 ———67,101 1,065 
Northeast14 37,484 1,148 ———37,484 1,148 
South58 126,388 3,124 1 866 405 127,254 3,529 
West39 83,622 1,658 — ——83,622 1,658 
Foreign bonds9 21,377 1,861 5 10,272 2,619 31,649 4,480 
Public utilities45 101,867 8,737 9 19,979 4,669 121,846 13,406 
Corporate bonds
Energy15 28,612 1,930 1 4,597 1,368 33,209 3,298 
Industrials21 43,639 3,542 4 7,049 2,012 50,688 5,554 
Consumer goods and services28 69,320 4,440 7 20,620 6,157 89,940 10,597 
Health care5 9,829 487 6 15,928 4,933 25,757 5,420 
Technology, media and telecommunications23 49,970 3,279 5 9,970 3,974 59,940 7,253 
Financial services40 101,411 6,997 5 11,236 2,208 112,647 9,205 
Mortgage-backed securities38 7,909 1,056 12 9,791 1,693 17,700 2,749 
Collateralized mortgage obligations
Government National Mortgage Association29 48,898 4,500 12 35,650 8,791 84,548 13,291 
Federal Home Loan Mortgage Corporation21 35,456 5,629 19 43,383 7,900 78,839 13,529 
Federal National Mortgage Association14 24,146 1,281 7 16,674 3,611 40,820 4,892 
Asset-backed securities1 3,452 145 — — — 3,452 145 
Total Available-for-Sale Fixed Maturities534 $1,085,847 $58,671 100 $225,276 $55,252 $1,311,123 $113,923 

The unrealized losses on our investments in available-for-sale fixed maturities were the result of interest rate movements. We have no intent to sell, and it is more likely than not that we will not be required to sell, these securities until the fair value recovers to at least equal our cost basis or the securities mature.
December 31, 2021Less than 12 months12 months or longerTotal
Type of InvestmentNumber
of Issues		Fair
Value		Gross Unrealized DepreciationNumber
of Issues		Fair
Value		Gross Unrealized DepreciationFair
Value		Gross Unrealized Depreciation
AVAILABLE-FOR-SALE
Fixed maturities
Bonds
U.S. Treasury6 $32,166 $630 1 $2,837 $88 $35,003 $718 
U.S. government agency3 15,023 562 — — — 15,023 562 
States, municipalities and political subdivisions
South1 1,195 78 — — — 1,195 78 
Foreign bonds4 10,731 147 1 1,952 50 12,683 197 
Public utilities9 24,238 481 — — — 24,238 481 
Corporate bonds
Energy1 5,881 81 — — — 5,881 81 
Industrials4 8,902 162 — — — 8,902 162 
Consumer goods and services10 26,367 611 — — — 26,367 611 
Health care3 20,550 461 — — — 20,550 461 
Technology, media and telecommunications4 11,204 739 1 1,906 127 13,110 866 
Financial services5 13,320 131 — — — 13,320 131 
Mortgage-backed securities12 13,740 229 — — — 13,740 229 
Collateralized mortgage obligations
Government National Mortgage Association11 48,256 1,752 1 1,032 20 49,288 1,772 
Federal Home Loan Mortgage Corporation18 50,701 698 7 30,847 960 81,548 1,658 
Federal National Mortgage Association6 21,806 521 4 5,297 121 27,103 642 
Total Available-for-Sale Fixed Maturities97 $304,080 $7,283 15 $43,871 $1,366 $347,951 $8,649