Investments (Tables)

12 Months Ended

Dec. 31, 2012

Investments/Financial Instruments [Abstract]

Summary of net investment income

	Years ended December 31,
	2012		2011		2010
Fixed maturity securities	$	31,348	$	32,454	$	32,524
Common stock		—		—		626
Preferred stock		230		185		201
Short-term investments and cash and cash equivalents		43		168		67
		31,621		32,807		33,418
Less investment expenses		1,423		1,469		1,280
Net investment income	$	30,198	$	31,338	$	32,138

Summary of realized and unrealized gains and losses

	Years ended December 31,
	2012			2011			2010
Realized gains:
Fixed maturity	$	9,851		$	12,553		$	2,144
Common stock		—			—			274
Preferred stock		—			—			16
Total gains		9,851			12,553			2,434
Realized losses:
Fixed maturity		(158	)		(1,587	)		(183	)
Common stock		—			—			—
Preferred stock		—			—			—
Total losses		(158	)		(1,587	)		(183	)
Net realized gains (losses) (1)	$	9,693		$	10,966		$	2,251
Changes in unrealized gains:
Fixed maturity	$	9,660		$	10,706		$	15,512
Common stock		(53	)		(175	)		63
Preferred stock		149			21			24
Net change in unrealized gains	$	9,756		$	10,552		$	15,599

⁽¹⁾  Realized gains on the Statement of Operations for 2012 include $0.3 million of net unrealized holding gains from trading securities.

Amortized cost and estimated fair values of the Company's available for sale investments

December 31, 2012	Amortized cost		Gross unrealized gains		Gross unrealized losses			Estimated fair value
Fixed maturity securities:
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	53,591	$	2,961	$	(11	)	$	56,541
States of the U.S. and political subdivisions of the states		40,100		6,064		—			46,164
Corporate securities		304,725		36,089		(85	)		340,729
Mortgage-backed securities		237,653		11,088		(501	)		248,240
Commercial mortgage-backed securities		57,521		5,694		—			63,215
Asset-backed securities		71,769		3,138		(219	)		74,688
Total fixed maturities	$	765,359	$	65,034	$	(816	)	$	829,577
Common stock	$	9,004	$	6	$	(234	)	$	8,776
Preferred stock	$	2,789	$	317	$	(25	)	$	3,081

December 31, 2011	Amortized cost		Gross unrealized gains		Gross unrealized losses			Estimated fair value
Fixed maturity securities:
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	58,814	$	4,315	$	(39	)	$	63,090
States of the U.S. and political subdivisions of the states		27,676		4,581		—			32,257
Corporate securities		298,452		29,601		(1,127	)		326,926
Mortgage-backed securities		257,864		12,973		(26	)		270,811
Commercial mortgage-backed securities		60,198		3,941		(178	)		63,961
Asset-backed securities		58,437		666		(149	)		58,954
Total fixed maturities	$	761,441	$	56,077	$	(1,519	)	$	815,999
Common stock	$	6,926	$	—	$	(175	)	$	6,751
Preferred stock	$	2,789	$	212	$	(69	)	$	2,932

Amortized cost and estimated fair value of fixed maturity securities by contractual maturity

	Amortized cost		Estimated fair value
	(dollars in thousands)
Due in one year or less	$	40,900	$	41,544
Due after one year through five years		97,214		104,414
Due after five years through ten years		189,141		207,642
Due after ten years		71,161		89,834
Mortgage and asset-backed securities		366,943		386,143
Total	$	765,359	$	829,577

Gross unrecognized and unrealized losses of the Company's investment portfolio

December 31, 2012

	Less than 12 months					12 months or longer					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(dollars in thousands)
US Treasury securities & other government corporations and agencies	$	4,985	$	(11	)	$	—	$	—		$	4,985	$	(11	)
States of the US and political subdivisions of the states		—		—			—		—			—		—
Corporate securities		24,489		(85	)		—		—			24,489		(85	)
Mortgage-backed securities		36,345		(336	)		3,751		(165	)		40,096		(501	)
Commercial mortgage-backed securities		—		—			—		—			—		—
Asset-backed securities		7,536		(210	)		59		(9	)		7,595		(219	)
Subtotal fixed maturity securities		73,355		(642	)		3,810		(174	)		77,165		(816	)
Common stock		1,067		(14	)		6,926		(220	)		7,993		(234	)
Preferred stock		490		(2	)		504		(23	)		994		(25	)
Total temporarily impaired securities	$	74,912	$	(658	)	$	11,240	$	(417	)	$	86,152	$	(1,075	)

December 31, 2011

	Less than 12 months					12 months or longer					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(dollars in thousands)
US Treasury securities & other government corporations and agencies	$	3,749	$	(39	)	$	—	$	—		$	3,749	$	(39	)
States of the US and political subdivisions of the states		—		—			—		—			—		—
Corporate securities		31,808		(1,127	)		—		—			31,808		(1,127	)
Mortgage-backed securities		6,574		(26	)		—		—			6,574		(26	)
Commercial mortgage-backed securities		13,401		(135	)		5,432		(43	)		18,833		(178	)
Asset-backed securities		15,537		(149	)		—		—			15,537		(149	)
Subtotal fixed maturity securities		71,069		(1,476	)		5,432		(43	)		76,501		(1,519	)
Common stock		6,751		(175	)		—		—			6,751		(175	)
Preferred stock		1,436		(50	)		509		(19	)		1,945		(69	)
Total temporarily impaired securities	$	79,256	$	(1,701	)	$	5,941	$	(62	)	$	85,197	$	(1,763	)