Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

Categories	Fair Value (in thousands)		Valuation Techniques	Unobservable Inputs	Input Value(s)
Limited liability investments, at fair value	$	4,124	Market approach	Valuation multiples	5.0x - 8.8x
Real estate investments	$	10,662	Market and income approach	Cap rates	7.5	%

The following table summarizes the valuation techniques and significant unobservable inputs utilized in determining fair values for the Company's investments that are categorized as Level 3 at December 31, 2017:

Categories	Fair Value (in thousands)		Valuation Techniques	Unobservable Inputs	Input Value(s)
Limited liability investments, at fair value	$	1,397	Market approach	Valuation multiples	5.0x - 7.0x
Real estate investments	$	10,662	Market and income approach	Cap rates	7.5	%

as of December 31, 2018 and December 31, 2017 was as follows. Certain investments in limited liability companies that are measured at fair value using the net asset value practical expedient are not required to be classified using the fair value hierarchy, but are presented in the following tables to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheets:

(in thousands)					December 31, 2018
	Fair Value Measurements at the End of the Reporting Period Using
	Total		Quoted Prices in Active Markets for Identical Assets(Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Measured at Net Asset Value
Recurring fair value measurements
Assets:
Fixed maturities:
U.S. government, government agencies and authorities	$	5,547	$	—	$	5,547	$	—	$	—
States, municipalities and political subdivisions	607		—		607		—		—
Mortgage-backed	3,186		—		3,186		—		—
Corporate	2,920		—		2,920		—		—
Total fixed maturities	12,260		—		12,260		—		—
Equity investments:
Common stock	801		801		—		—		—
Warrants	55		19		36		—		—
Total equity investments	856		820		36		—		—
Limited liability investments, at fair value	26,015		—		206		4,124		21,685
Real estate investments	10,662		—		—		10,662
Other investments	2,079		—		2,079		—
Short-term investments	152		—		152		—
Total assets	$	52,024	$	820	$	14,733	$	14,786	$	21,685
Liabilities:
Subordinated debt	$	50,023	$	—	$	50,023	$	—	$	—
Total liabilities	$	50,023	$	—	$	50,023	$	—	$	—

(in thousands) (restated)					December 31, 2017
	Fair Value Measurements at the End of the Reporting Period Using
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs(Level 3)		Measured at Net Asset Value
Recurring fair value measurements
Assets:
Fixed maturities:
U.S. government, government agencies and authorities	$	5,612	$	—	$	5,612	$	—	$	—
States, municipalities and political subdivisions	626		—		626		—		—
Mortgage-backed	2,876		—		2,876		—		—
Corporate	5,427		—		5,427		—		—
Total fixed maturities	14,541		—		14,541		—		—
Equity investments:
Common stock	3,570		3,570		—		—		—
Warrants	1,019		171		848		—		—
Total equity investments	4,589		3,741		848		—		—
Limited liability investments, at fair value	32,211		—		10,314		1,397		20,500
Real estate investments	10,662		—		—		10,662		—
Other investments	3,721		—		3,721		—		—
Short-term investments	151		—		151		—		—
Total assets	$	65,875	$	3,741	$	29,575	$	12,059	$	20,500
Liabilities:
Subordinated debt	$	52,105	$	—	$	52,105	$	—	$	—
Total liabilities	$	52,105	$	—	$	52,105	$	—	$	—

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

The following table provides a reconciliation of the fair value of recurring Level 3 fair value measurements for the years ended December 31, 2018 and December 31, 2017:

(in thousands)	Years ended December 31,
	2018				2017
Assets:
Limited liability investments, at fair value:
Beginning balance	$	1,397			$	939
Purchases	1,580				664
Distributions received	(386		)		(86		)
Change in fair value of limited liability investments, at fair value included in net loss	1,533				(120		)
Ending balance	4,124				1,397
Real estate investments:
Beginning balance	10,662				10,662
Change in fair value of real estate investments included in net loss	—				—
Ending balance	10,662			—	10,662
Ending balance - assets	$	14,786			$	12,059
Liabilities:
Contingent consideration:
Beginning balance	$	—			$	325
Settlements of contingent consideration liabilities	—				(113		)
Change in fair value of contingent consideration included in net loss	—				(212		)
Ending balance - liabilities	$	—			$	—
Total	$	14,786			$	12,059

The following table summarizes the valuation techniques and significant unobservable inputs utilized in determining fair values for the Company's investments that are categorized as Level 3 at December 31, 2018:

Categories	Fair Value (in thousands)		Valuation Techniques	Unobservable Inputs	Input Value(s)
Limited liability investments, at fair value	$	4,124	Market approach	Valuation multiples	5.0x - 8.8x
Real estate investments	$	10,662	Market and income approach	Cap rates	7.5	%

The following table summarizes the valuation techniques and significant unobservable inputs utilized in determining fair values for the Company's investments that are categorized as Level 3 at December 31, 2017:

Categories	Fair Value (in thousands)		Valuation Techniques	Unobservable Inputs	Input Value(s)
Limited liability investments, at fair value	$	1,397	Market approach	Valuation multiples	5.0x - 7.0x
Real estate investments	$	10,662	Market and income approach	Cap rates	7.5	%

All transfers are recognized by the Company at the beginning of each reporting period. Transfers between Levels 2 and 3 generally relate to whether significant unobservable inputs are used for the fair value measurements. There were no transfers between levels in 2018 or 2017.

Investments Measured Using the Net Asset Value per Share Practical Expedient

The following table summarizes investments for which fair value is measured using the net asset value per share practical expedient at December 31, 2018:

December 31, 2018	Fair Value (in thousands)		Unfunded Commitments (in thousands)	Redemption Frequency	Redemption Notice Period
Limited liability investments, at fair value	$	21,685	n/a	n/a	n/a

The following table summarizes investments for which fair value is measured using the net asset value per share practical expedient at December 31, 2017:

December 31, 2017	Fair Value (in thousands)		Unfunded Commitments (in thousands)	Redemption Frequency	Redemption Notice Period
Limited liability investments, at fair value	$	20,500	n/a	n/a	n/a

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

Certain assets and liabilities are measured at fair value on a nonrecurring basis, including assets that are adjusted for observable price changes or written down to fair value as a result of an impairment. For the year ended December 31, 2018, the Company recorded adjustments to decrease the fair value of certain investments in private companies for observable price changes of $0.6 million and impairments of $1.0 million, respectively, which are included in net change in unrealized loss on private company investments in the consolidated statements of operations. To determine the fair value of investments in these private companies, the Company considered rounds of financing and third-party transactions, discounted cash flow analyses and market-based information, including comparable transactions, trading multiples and changes in market outlook, among other factors. The Company has classified the fair value measurements of these investments in private companies as Level 3 because they involve significant unobservable inputs.