Investments (Tables)
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9 Months Ended |
Sep. 30, 2015 |
Investments, Debt and Equity Securities [Abstract] |
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Schedule of Fair Values and Gross Unrealized Gains and Losses |
| | | | | | | | | | | | | | | | | | Amortized Cost | | Gross Unrealized | | Fair Value | | | Gains | | Losses | | As of September 30, 2015 | (In Thousands) | U.S. Treasury securities and obligations of U.S. government agencies | $ | 68,243 |
| | $ | 86 |
| | $ | (106 | ) | | $ | 68,223 |
| Municipal debt securities | 11,001 |
| | 7 |
| | (24 | ) | | 10,984 |
| Corporate debt securities | 179,650 |
| | 486 |
| | (2,793 | ) | | 177,343 |
| Asset-backed securities | 57,745 |
| | 288 |
| | (128 | ) | | 57,905 |
| Total investments | $ | 316,639 |
| | $ | 867 |
| | $ | (3,051 | ) | | $ | 314,455 |
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| | | | | | | | | | | | | | | | | | Amortized Cost | | Gross Unrealized | | Fair Value | | | Gains | | Losses | | As of December 31, 2014 | (In Thousands) | U.S. Treasury securities and obligations of U.S. government agencies | $ | 68,911 |
| | $ | 7 |
| | $ | (573 | ) | | $ | 68,345 |
| Municipal debt securities | 12,009 |
| | 27 |
| | (73 | ) | | 11,963 |
| Corporate debt securities | 200,358 |
| | 883 |
| | (1,456 | ) | | 199,785 |
| Asset-backed securities | 56,440 |
| | 222 |
| | (254 | ) | | 56,408 |
| Total investments | $ | 337,718 |
| | $ | 1,139 |
| | $ | (2,356 | ) | | $ | 336,501 |
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Schedule of Investments by Maturity |
The amortized cost and fair values of available for sale securities at September 30, 2015 and December 31, 2014, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Because most asset-backed securities provide for periodic payments throughout their lives, they are listed below in separate categories. | | | | | | | | | As of September 30, 2015 | Amortized Cost | | Fair Value | | (In Thousands) | Due in one year or less | $ | 17,951 |
| | $ | 17,971 |
| Due after one through five years | 149,970 |
| | 150,086 |
| Due after five through ten years | 72,232 |
| | 70,149 |
| Due after ten years | 18,741 |
| | 18,344 |
| Asset-backed securities | 57,745 |
| | 57,905 |
| Total investments | $ | 316,639 |
| | $ | 314,455 |
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| | | | | | | | | As of December 31, 2014 | Amortized Cost | | Fair Value | | (In Thousands) | Due in one year or less | $ | 6,110 |
| | $ | 6,125 |
| Due after one through five years | 195,492 |
| | 194,472 |
| Due after five through ten years | 54,360 |
| | 53,891 |
| Due after ten years | 25,316 |
| | 25,605 |
| Asset-backed securities | 56,440 |
| | 56,408 |
| Total investments | $ | 337,718 |
| | $ | 336,501 |
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Schedule of Aging Unrealized Losses |
For those securities in an unrealized loss position, the length of time the securities were in such a position is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Less Than 12 Months | | 12 Months or Greater | | Total | | # of Securities | Fair Value | Unrealized Losses | | # of Securities | Fair Value | Unrealized Losses | | # of Securities | Fair Value | Unrealized Losses | As of September 30, 2015 | | (Dollars in Thousands) | U.S. Treasury securities and obligations of U.S. government agencies | 2 |
| $ | 12,740 |
| $ | (57 | ) | | 4 |
| $ | 19,990 |
| $ | (49 | ) | | 6 |
| $ | 32,730 |
| $ | (106 | ) | Municipal debt securities | — |
| — |
| — |
| | 2 |
| 4,976 |
| (24 | ) | | 2 |
| 4,976 |
| (24 | ) | Corporate debt securities | 34 |
| 96,420 |
| (2,473 | ) | | 5 |
| 13,589 |
| (320 | ) | | 39 |
| 110,009 |
| (2,793 | ) | Assets-backed securities | 5 |
| 8,773 |
| (71 | ) | | 3 |
| 9,273 |
| (57 | ) | | 8 |
| 18,046 |
| (128 | ) | Total investments | 41 |
| $ | 117,933 |
| $ | (2,601 | ) | | 14 |
| $ | 47,828 |
| $ | (450 | ) | | 55 |
| $ | 165,761 |
| $ | (3,051 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Less Than 12 Months | | 12 Months or Greater | | Total | | # of Securities | Fair Value | Unrealized Losses | | # of Securities | Fair Value | Unrealized Losses | | # of Securities | Fair Value | Unrealized Losses | As of December 31, 2014 | | (Dollars in Thousands) | U.S. Treasury securities and obligations of U.S. government agencies | 4 |
| $ | 7,228 |
| $ | (33 | ) | | 10 |
| $ | 49,884 |
| $ | (540 | ) | | 14 |
| $ | 57,112 |
| $ | (573 | ) | Municipal debt securities | 1 |
| 3,232 |
| (18 | ) | | 1 |
| 1,695 |
| (55 | ) | | 2 |
| 4,927 |
| (73 | ) | Corporate debt securities | 26 |
| 60,334 |
| (559 | ) | | 22 |
| 65,806 |
| (897 | ) | | 48 |
| 126,140 |
| (1,456 | ) | Assets-backed securities | 3 |
| 10,614 |
| (57 | ) | | 4 |
| 20,047 |
| (197 | ) | | 7 |
| 30,661 |
| (254 | ) | Total investments | 34 |
| $ | 81,408 |
| $ | (667 | ) | | 37 |
| $ | 137,432 |
| $ | (1,689 | ) | | 71 |
| $ | 218,840 |
| $ | (2,356 | ) |
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Net Realized Investments Gains (Losses) |
| | | | | | | | | | | | | | | | | | For the three months ended September 30, | | For the nine months ended September 30, | | 2015 | | 2014 | | 2015 | | 2014 | | (In Thousands) | Gross realized investment gains | $ | 266 |
| | $ | 566 |
| | $ | 1,526 |
| | $ | 566 |
| Gross realized investment losses | (281 | ) | | (432 | ) | | (574 | ) | | (432 | ) | Net realized investment (losses) gains | $ | (15 | ) | | $ | 134 |
| | $ | 952 |
| | $ | 134 |
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