Fair Value (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Presentation of Carrying Values and Fair Values of Certain Financial Instruments

The carrying values and fair values of certain financial instruments were as follows (in thousands).

	March 31, 2016				December 31, 2015
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value
Assets:
Investments, available-for-sale	$	130,898	$	130,898	$	131,582	$	131,582
Other investments		10,286		10,286		11,256		11,256
Liabilities:
Debentures payable		40,268		19,346		40,256		20,275
Term loan from principal stockholder		29,760		28,673		29,753		28,504

Presentation of Fair-Value Measurements for Each Major Category of Assets Measured on Recurring Basis

The following tables present the fair-value measurements for each major category of assets that are measured on a recurring basis (in thousands). Other investments are carried at net asset value which approximates fair value.

			Fair Value Measurements Using
			Quoted Prices		Significant
			in Active		Other		Significant		Proportionate
			Markets for		Observable		Unobservable		Share of
			Identical Assets		Inputs		Inputs		Net Assets
March 31, 2016	Total		(Level 1)		(Level 2)		(Level 3)		(NAV)
Fixed maturities, available-for-sale:
U.S. government and agencies	$	13,366	$	13,366	$	—	$	—	$	—
State		703		—		703		—		—
Political subdivisions		4,374		—		4,374		—		—
Revenue and assessment		11,278		—		11,278		—		—
Corporate bonds		81,598		—		81,598		—		—
Collateralized mortgage obligations:
Agency backed		867		—		867		—		—
Non-agency backed – residential		3,230		—		3,230		—		—
Non-agency backed – commercial		2,125		—		2,125		—		—
Total fixed maturities, available-for-sale		117,541		13,366		104,175		—		—
Preferred stock, available-for-sale		1,765		1,765		—		—		—
Mutual funds, available-for-sale		11,592		11,592	—			—		—
Total investments, available-for-sale		130,898		26,723		104,175		—		—
Other investments		10,286		—		—		3,483		6,803
Cash and cash equivalents		128,906		128,906		—		—		—
Total	$	270,090	$	155,629	$	104,175	$	3,483	$	6,803

			Fair Value Measurements Using
			Quoted Prices		Significant
			in Active		Other		Significant		Proportionate
			Markets for		Observable		Unobservable		Share of
			Identical Assets		Inputs		Inputs		Net Assets
December 31, 2015	Total		(Level 1)		(Level 2)		(Level 3)		(NAV)
Fixed maturities, available-for-sale:
U.S. government and agencies	$	13,113	$	13,113	$	—	$	—	$	—
State		702		—		702		—		—
Political subdivisions		4,363		—		4,363		—		—
Revenue and assessment		12,644		—		12,644		—		—
Corporate bonds		80,785		—		80,785		—		—
Collateralized mortgage obligations:
Agency backed		873		—		873		—		—
Non-agency backed – residential		3,455		—		3,455		—		—
Non-agency backed – commercial		2,507		—		2,507		—		—
Total fixed maturities, available-for-sale		118,442		13,113		105,329		—		—
Preferred stock, available-for-sale		1,723		1,723		—		—		—
Mutual funds, available-for-sale		11,417		11,417	—			—		—
Total investments, available-for-sale		131,582		26,253		105,329		—		—
Other investment		11,256		—		—		3,276		7,980
Cash and cash equivalents		115,587		115,587		—		—		—
Total	$	258,425	$	141,840	$	105,329	$	3,276	$	7,980

Quantitative Disclosure for Assets Classified as Level 3

The following table represents the quantitative disclosure for the asset classified as Level 3 during the three months ended March 31, 2016 (in thousands).

	Fair Value
	Measurements Using
	Significant Unobservable
	Inputs (Level 3)
	Common Stock
	at Fair Value
Balance at December 31, 2015	$	3,276
Gains included in net (loss) income		—
Gains included in comprehensive (loss) income		—
Investments and capital calls		207
Distributions received		—
Transfers into and out of Level 3		—
Balance at March 31, 2016	$	3,483