as of June 30, 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)					June 30, 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	$	5,427	$	—	$	5,427	$	—	$	—
States, municipalities and political subdivisions	605		—		605		—		—
Mortgage-backed	2,811		—		2,811		—		—
Corporate	2,518		—		2,518		—		—
Total fixed maturities	11,361		—		11,361		—		—
Equity investments:
Common stock	1,491		1,491		—		—		—
Warrants	942		71		871		—		—
Total equity investments	2,433		1,562		871		—		—
Limited liability investments, at fair value	31,416		—		8,498		2,083		20,835
Real estate investments	10,662		—		—		10,662		—
Other investments	3,316		—		3,316		—		—
Short-term investments	151		—		151		—		—
Total assets	$	59,339	$	1,562	$	24,197	$	12,745	$	20,835

Liabilities:
Subordinated debt	$	52,822	$	—	$	52,822	$	—	$	—
Total liabilities	$	52,822	$	—	$	52,822	$	—	$	—



(in thousands)					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	$	—	$	—