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Investments (Tables)
 12 Months Ended
Dec. 31, 2023
Investments [Abstract]  
Schedule of Gain and Losses on Investments
The following table summarizes investment income and realized gains and losses on investments during the periods presented.
Year Ended December 31,
202320222021
Investment income, net of investment expenses$8,428$1,544$768
Realized gains on investments1132262
Realized losses on investments(256)(392)(129)
Investment income and realized gains, net of investment expenses$8,285$1,174$701
Summary of Amortized Cost, Market Value and Unrealized Gains (Losses) of Debt Securities
The following tables summarize the amortized cost, fair value, and unrealized gains and losses of investment securities:
December 31, 2023
Amortized CostGross UnrealizedFair Value
GainsLosses
U.S. Treasuries$43,931$95$(330)$43,696
Obligations of states, municipalities and political subdivisions18,281100(961)17,420
Corporate bonds51,678430(2,067)50,041
Residential and commercial mortgage-backed securities25,452153(1,004)24,601
Other loan-backed and structured securities3,69413(289)3,418
Total investment securities$143,036$791$(4,651)$139,176
December 31, 2022
Amortized CostGross UnrealizedFair Value
GainsLosses
U.S. Treasuries$35,637$5$(320)$35,322
Obligations of states, municipalities and political subdivisions11,5492(1,326)10,225
Corporate bonds31,03232(2,837)28,227
Residential and commercial mortgage-backed securities12,79011(1,268)11,533
Other loan-backed and structured securities6,8046(476)6,334
Total investment securities$97,812$56$(6,227)$91,641
Summary of Remaining Time to Maturity Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
December 31, 2023
Remaining Time to MaturityAmortized CostFair Value
Due in one year or less$34,620$34,542
Due after one year through five years45,41144,607
Due after five years through ten years25,39723,951
Due after ten years8,4628,057
Residential and commercial mortgage-backed securities25,45224,601
Other loan-backed and structured securities3,6943,418
Total$143,036$139,176
Summary of Investments Pledged to the Department of Insurance
The following table presents investments pledged to the Department of Insurance in certain states as a condition of the Certificate of Authority for the purpose of meeting obligations to policyholders and creditors.
December 31,
20232022
Certificates of deposit$1,266$1,463
U.S. Treasury notes7061,216
1,9722,679
Summary of Securities with Gross Unrealized Loss Position
Securities with gross unrealized loss position, aggregated by investment category and length of time the individual securities have been in a continuous loss position, are as follows:
Less Than Twelve MonthsTwelve Months or GreaterTotal
As of December 31, 2023Gross
Unrealized
Loss		Fair
Value		Gross
Unrealized
Loss		Fair
Value		Gross
Unrealized
Loss		Fair
Value
U.S. Treasuries$(280)$12,345$(50)$515$(330)$12,860
Obligations of states, municipalities and political subdivisions(813)8,445(148)1,639(961)10,084
Corporate bonds(1,698)21,104(369)4,677(2,067)25,781
Residential and commercial mortgage-backed securities(621)8,673(383)3,072(1,004)11,745
Other loan-backed and structured securities(281)2,790(8)52(289)2,842
Total securities$(3,693)$53,357$(958)$9,955$(4,651)$63,312
Less Than Twelve MonthsTwelve Months or GreaterTotal
As of December 31, 2022Gross
Unrealized
Loss		Fair
Value		Gross
Unrealized
Loss		Fair
Value		Gross
Unrealized
Loss		Fair
Value
U.S. Treasuries$(127)$10,748$(193)$9,824$(320)$20,572
Obligations of states, municipalities and political subdivisions(929)6,258(397)3,504(1,326)9,762
Corporate bonds(1,623)16,531(1,214)10,328(2,837)26,859
Residential and commercial mortgage-backed securities(687)6,565(581)4,952(1,268)11,517
Other loan-backed and structured securities(359)4,633(117)1,094(476)5,727
Total securities$(3,725)$44,735$(2,502)$29,702$(6,227)$74,437