Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Measurements [Abstract]

Assets measured at fair value on a recurring basis

As of June 30, 2012

Fair Value Measurements Using

(dollars in thousands)

	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs              (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Fixed Maturities:
U.S. Treasury securities and other government corporations and agencies	$	23,232	$	28,850	$	—	$	52,082
States of the U.S. and political subdivisions of the states		—		33,222		—		33,222
Corporate securities		—		331,396		—		331,396
Mortgage-backed securities		—		258,592		—		258,592
Commercial mortgage-backed securities		—		63,493		—		63,493
Asset-backed securities		—		57,563		—		57,563
Total fixed maturities		23,232		773,116		—		796,348
Equities securities		3,106		—		6,706		9,812
Short term investments		97,531		—		—		97,531
Trading securities		344		4,591		—		4,935
Total	$	124,213	$	777,707	$	6,706	$	908,626

Fair Value Measurements sing Significant Unobservable

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (dollars in thousands)
Level 3 Financial Instruments	Equities
Balance at December 31, 2011	$	6,751
Total gains (losses) realized (unrealized):
Included in earnings		—
Included in other comprehensive income		(45	)
Net purchases, sales & distributions		—
Net transfers in (out of) Level 3		—
Balance at June 30, 2012	$	6,706
Change in net unrealized gains relating to assets still held at reporting date	$	(45	)

Fair value of financial instruments

			June 30, 2012				December 31, 2011
	Level in Fair Value Hierarchy		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets:
Cash and cash equivalents		Level 1	$	35,195	$	35,195	$	43,481	$	43,481
Fixed maturities		*	$	796,348	$	796,348	$	815,999	$	815,999
Equity securities		*	$	9,812	$	9,812	$	9,683	$	9,683
Short-term investments		*	$	97,531	$	97,531	$	57,417	$	57,417
Trading securities		*	$	4,935	$	4,935	$	—	$	—
Premiums receivable		Level 2	$	39,243	$	39,243	$	33,458	$	33,458
Reinsurance recoverable		Level 2	$	178,066	$	178,066	$	173,982	$	173,982
Liabilities:
Loans payable		Level 2	$	39,183	$	39,183	$	39,183	$	39,183

* See investment assets measured at fair value on a recurring basis summary within Note 6 for disclosure of levels for classes of these financial assets.