Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following tables set forth our assets that are measured at fair value on a recurring basis as of the dates indicated.

September 30, 2021	Level 1		Level 2	Level 3	Total Fair Value
(In thousands)
Financial Assets
Fixed maturity securities available-for-sale
U.S. Treasury and U.S. Government-sponsored enterprises	$	8,335	4,515	—	12,850
States and political subdivisions	—		382,322	—	382,322
Corporate	51		881,291	—	881,342
Residential mortgage-backed	—		134,522	—	134,522
Asset-backed	—		45,546	—	45,546
Foreign governments	—		112	—	112
Total fixed maturity securities available-for-sale	8,386		1,448,308	—	1,456,694
Equity securities
Stock mutual funds	3,407		—	—	3,407
Bond mutual funds	12,512		—	—	12,512
Common stock	1,072		—	—	1,072
Non-redeemable preferred stock	272		—	—	272
Non-redeemable preferred stock fund	5,072		—	—	5,072
Total equity securities	22,335		—	—	22,335
Other long-term investments (1)	—		—	—	32,651
Total financial assets	$	30,721	1,448,308	—	1,511,680

(1) In accordance with Subtopic 820-10, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient are not classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet.

December 31, 2020	Level 1		Level 2	Level 3	Total Fair Value
(In thousands)
Financial Assets
Fixed maturity securities available-for-sale
U.S. Treasury and U.S. Government-sponsored enterprises	$	11,326	4,791	—	16,117
States and political subdivisions	—		409,665	—	409,665
Corporate	52		877,156	—	877,208
Commercial mortgage-backed	—		221	—	221
Residential mortgage-backed	—		139,963	—	139,963
Asset-backed	—		46,091	—	46,091
Foreign governments	—		118	—	118
Total fixed maturity securities available-for-sale	11,378		1,478,005	—	1,489,383
Equity securities
Stock mutual funds	3,174		—	—	3,174
Bond mutual funds	12,354		—	—	12,354
Common stock	1,143		—	—	1,143
Non-redeemable preferred stock	281		—	—	281
Non-redeemable preferred stock fund	5,150		—	—	5,150
Total equity securities	22,102		—	—	22,102
Other long-term investments (1)	—		—	—	11,923
Total financial assets	$	33,480	1,478,005	—	1,523,408
(1) In accordance with Subtopic 820-10, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient are not classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet.

Fair Value Measurements, Recurring and Nonrecurring

These investments are included in other long-term investments on the consolidated balance sheets.

		September 30, 2021				December 31, 2020
		Fair Value  Using NAV Per Share		Unfunded Commit- ments	Life in years	Fair Value  Using NAV Per Share		Unfunded Commit- ments	Life in years
(In thousands, except years)
Limited partnerships
Middle market	Investments in privately-originated, performing senior secured debt primarily in North America-based companies	$	13,847	26,645	10	$	10,542	29,783	10
Term liquidity facility	Investments in a facility established by the U.S. Federal Reserve that provides financing to U.S. company market participants for levered asset purchases with a focus on asset-backed, commercial mortgage and collateralized loan obligation markets	—		—	0	1,381		—	3
Late-stage growth	Investments in private late-stage, established companies seeking capital to accelerate growth prior to an IPO or sale	16,864		8,525	7	—		16,291	7
Infrastructure	Investments in climate infrastructure assets, focusing on renewable power generation in wind and solar energy	1,940		17,784	12	—		17,497	12
Total limited partnerships		$	32,651	52,954		$	11,923	63,571

Fair Value, by Balance Sheet Grouping [Table Text Block]

The carrying amount and fair value for the financial assets and liabilities on the consolidated balance sheets not otherwise disclosed for the periods indicated are as follows:

	September 30, 2021			December 31, 2020
(In thousands)	Carrying Value		Fair Value	Carrying Value	Fair Value
Financial Assets:
Policy loans	$	80,102	80,102	83,318	83,318
Commercial mortgage loan	1,000		1,000	—	—
Residential mortgage loans	150		169	157	195
Cash and cash equivalents	30,087		30,087	34,131	34,131
Financial Liabilities:
Annuity - investment contracts	63,690		69,603	60,861	71,547

Fair Value Option, Disclosures

The following table summarizes the carrying amounts of these investments.

Carrying Value (In thousands)	September 30, 2021		December 31, 2020
Other long-term investments:
Limited partnerships	$	32,651	18,135
FHLB common stock	191		190
Mortgage loans	1,150		157
All other investments	21		8,811
Total other long-term investments	$	34,013	27,293