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Investments (Tables)
 9 Months Ended
Sep. 30, 2019
Investments [Abstract]  
Schedule of Unrealized Loss on Investments
The amortized cost, gross unrealized gains and losses, and estimated fair value of the Company's available-for-sale investments at September 30, 2019 and December 31, 2018 are summarized in the tables shown below:
(in thousands)
 
September 30, 2019
 
 
 
Amortized Cost

 
Gross Unrealized Gains

 
Gross Unrealized Losses

 
Estimated  Fair Value

Fixed maturities:
 
 
 
 
 
 
 
 
U.S. government, government agencies and authorities
 
$
11,544

 
$
59

 
$
9

 
$
11,594

States, municipalities and political subdivisions
 
603

 
1

 
2

 
602

Mortgage-backed
 
2,137

 
2

 
17

 
2,122

Corporate
 
2,985

 
10

 
4

 
2,991

Total fixed maturities
 
$
17,269

 
$
72

 
$
32

 
$
17,309


(in thousands)
 
December 31, 2018
 
 
 
Amortized Cost

 
Gross Unrealized Gains

 
Gross Unrealized Losses

 
Estimated  Fair Value

Fixed maturities:
 
 
 
 
 
 
 
 
U.S. government, government agencies and authorities
 
$
5,594

 
$
1

 
$
48

 
$
5,547

States, municipalities and political subdivisions
 
621

 
—

 
14

 
607

Mortgage-backed
 
3,256

 
—

 
70

 
3,186

Corporate
 
2,961

 
—

 
41

 
2,920

Total fixed maturities
 
12,432

 
1

 
173

 
12,260
Investments Classified by Contractual Maturity Date
The table below summarizes the Company's fixed maturities at September 30, 2019 by contractual maturity periods. Actual results may differ as issuers may have the right to call or prepay obligations, with or without penalties, prior to the contractual maturity of these obligations.
(in thousands)
 
September 30, 2019
 
 
 
Amortized Cost

 
Estimated Fair Value

Due in one year or less
 
$
9,124

 
$
9,148

Due after one year through five years
 
6,912

 
6,937

Due after five years through ten years
 
181

 
180

Due after ten years
 
1,052

 
1,044

Total
 
$
17,269

 
$
17,309
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value
The following tables highlight the aggregate unrealized loss position, by security type, of available-for-sale investments in unrealized loss positions as of September 30, 2019 and December 31, 2018. The tables segregate the holdings based on the period of time the investments have been continuously held in unrealized loss positions.
(in thousands)
 
 
 
 
 
 
 
 
September 30, 2019
 
 
Less than 12 Months
 
Greater than 12 Months
 
Total
 
Estimated Fair Value
 
Unrealized Loss
 
Estimated Fair Value
 
Unrealized Loss
 
Estimated Fair Value
 
Unrealized Loss
Fixed maturities:
 
 
 
 
 
 
 
 
 
 
 
U.S. government, government agencies and authorities
$
700

 
$
2

 
$
1,501

 
$
7

 
$
2,201

 
$
9

States, municipalities and political subdivisions
—

 
—

 
453

 
2

 
453

 
2

Mortgage-backed
150

 
—

 
1,394

 
17

 
1,544

 
17

Corporate
270

 
1

 
753

 
3

 
1,023

 
4

Total fixed maturities
$
1,120

 
$
3

 
$
4,101

 
$
29

 
$
5,221

 
$
32


(in thousands)
 
 
 
 
 
 
 
 
December 31, 2018
 
 
Less than 12 Months
 
Greater than 12 Months
 
Total
 
Estimated Fair Value
 
Unrealized Loss
 
Estimated Fair Value
 
Unrealized Loss
 
Estimated Fair Value
 
Unrealized Loss
Fixed maturities:
 
 
 
 
 
 
 
 
 
 
 
U.S. government, government agencies and authorities
$
1,497

 
$
1

 
$
2,609

 
$
47

 
$
4,106

 
$
48

States, municipalities and political subdivisions
—

 
—

 
606

 
14

 
606

 
14

Mortgage-backed
800

 
1

 
2,134

 
69

 
2,934

 
70

Corporate
595

 
1

 
2,151

 
40

 
2,746

 
41

Total fixed maturities
$
2,892

 
$
3

 
$
7,500

 
$
170

 
$
10,392

 
$
173
Investment Income
Net investment income for the three and nine months ended September 30, 2019 and September 30, 2018 is comprised as follows:
(in thousands)
 
Three months ended September 30,
 
Nine months ended September 30,
 
 
2019

 
2018

 
2019

 
2018

Investment income:
 
 
 
 
 
 
 
 
  Interest from fixed maturities
 
$
136

 
$
73

 
$
331

 
$
163

Dividends
 
69

 
79

 
197

 
235

Income from limited liability investments
 
20

 
22

 
34

 
203

Income from limited liability investments, at fair value
 
372

 
236

 
839

 
937

Income from real estate investments
 
200

 
200

 
600

 
600

Other
 
105

 
23

 
395

 
160

Gross investment income
 
902

 
633

 
2,396

 
2,298

Investment expenses
 
(5
)
 
(4
)
 
(51
)
 
(21
)
Net investment income
 
$
897

 
$
629

 
$
2,345

 
$
2,277
Schedule of Realized Gain (Loss)
Gross realized gains and losses on available-for-sale investments and limited liability investments for the three and nine months ended September 30, 2019 and September 30, 2018 are comprised as follows:
(in thousands)
 
Three months ended September 30,
 
Nine months ended September 30,
 
 
2019

 
2018

 
2019

 
2018

Gross realized gains
 
$
1,004

 
$
—

 
$
1,363

 
$
398

Gross realized losses
 
(3
)
 
(414
)
 
(603
)
 
(415
)
Net realized gains gains
 
$
1,001

 
$
(414
)
 
$
760

 
$
(17
)
Schedule of Gain on Change in Fair Value of Equity Investments
(Loss) gain on change in fair value of equity investments for the three and nine months ended September 30, 2019 and September 30, 2018 is comprised as follows:
(in thousands)
 
Three months ended September 30,
 
Nine months ended September 30,
 
 
2019

 
2018

 
2019

 
2018

Net (losses) gains recognized on equity investments sold during the period
 
$
(11
)
 
$
905

 
$
(112
)
 
$
1,450

Change in unrealized (losses) gains on equity investments held at end of the period
 
(27
)
 
(568
)
 
89

 
(369
)
(Loss) gain on change in fair value of equity investments
 
$
(38
)
 
$
337

 
$
(23
)
 
$
1,081