VARIABLE INTEREST ENTITY

3 Months Ended

Mar. 31, 2016

Variable Interest Entity [Abstract]

VARIABLE INTEREST ENTITY

(12) VARIABLE INTEREST ENTITY

The carrying amounts of the assets of Monarch Delaware, our consolidated VIE, which can only be used to settle obligations of Monarch Delaware, and liabilities of Monarch Delaware for which creditors do not have recourse are as follows:

	March 31, 2016		December 31, 2015
ASSETS	(in thousands)
Investments
Debt maturities, held-to-maturity, at amortized cost	$	19,836	$	21,312
Equity securities, available-for-sale, at fair value		3,151		1,358
Total investments		22,987		22,670
Cash and cash equivalents		14,990		14,616
Prepaid reinsurance premiums		14		34
Premiums receivable, net		344		355
Deferred income taxes		5		646
Income taxes receivable		395		-
Deferred acquisition costs		237		234
Other assets		156		157
Total assets	$	39,128	$	38,712
LIABILITIES
Loss and loss adjustment expense reserves	$	324	$	237
Unearned premiums		1,572		1,448
Debt		4,893		4,887
Income taxes payable		-		8
Other liabilities		187		374
Total liabilities	$	6,976	$	6,954