Investments (Tables)

6 Months Ended

Jun. 30, 2013

Investments [Abstract]

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

The amortized cost and estimated fair values of the Company’s available for sale investments at June 30, 2013 and December 31, 2012, are as follows (dollars in thousands):

June 30, 2013	Amortized cost		Gross unrealized gains		Gross unrealized losses			Estimated fair value
Fixed maturity securities:
U.S. Treasury securities and other government corporations and agencies	$	258,887	$	2,017	$	(3,951	)	$	256,953
States of the U.S. and political subdivisions of the states		4,516		92		(183	)		4,425
Corporate securities		30,401		5,074		(207	)		35,268
Mortgage-backed securities		4,978		90		(202	)		4,866
Commercial mortgage-backed securities		2,684		141		—			2,825
Asset-backed securities		6,304		686		(18	)		6,972
Total fixed maturities	$	307,770	$	8,100	$	(4,561	)	$	311,309
Common stock	$	6,926	$	—	$	(853	)	$	6,073
Preferred stock	$	—	$	39	$	—		$	39

December 31, 2012	Amortized cost		Gross unrealized gains		Gross unrealized losses			Estimated fair value
Fixed maturity securities:
U.S. Treasury securities and other 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

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

The amortized cost and estimated fair value of fixed maturity securities at June 30, 2013, is shown below by contractual maturity.

	Amortized cost		Estimated fair value
	(dollars in thousands)
Due in one year or less	$	4,026	$	4,056
Due after one year through five years		19,261		20,340
Due after five years through ten years		19,259		19,533
Due after ten years		251,258		252,717
Mortgage and asset-backed securities		13,966		14,663
Total	$	307,770	$	311,309

Gross unrealized losses of the Company's investment portfolio

The following tables summarize the gross unrealized losses of the Company’s investment portfolio as of June 30, 2013 and December 31, 2012, by category and length of time that the securities have been in an unrealized loss position.

	Less than 12 months					12 months or longer					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
June 30, 2013	(dollars in thousands)
Fixed maturity securities:
U.S. Treasury securities and other government corporations and agencies	$	185,593	$	(3,951	)	$	—	$	—		$	185,593	$	(3,951	)
States of the U.S. and political subdivisions of the states		3,247		(183	)		—		—			3,247		(183	)
Corporate securities		3,100		(207	)		—		—			3,100		(207	)
Mortgage-backed securities		3,266		(202	)		—		—			3,266		(202	)
Commercial mortgage-backed securities		—		—			—		—			—		—
Asset-backed securities		—		—			48		(18	)		48		(18	)
Subtotal, fixed maturity securities		195,206		(4,543	)		48		(18	)		195,254		(4,561	)
Common stock		—		—			3,573		(853	)		3,573		(853	)
Preferred stock		—		—			—		—			—		—
Total temporarily impaired securities	$	195,206	$	(4,543	)	$	3,621	$	(871	)	$	198,827	$	(5,414	)

	Less than 12 months					12 months or longer					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
December 31, 2012	(dollars in thousands)
Fixed maturity securities:
U.S. Treasury securities and other government corporations and agencies	$	4,985	$	(11	)	$	—	$	—		$	4,985	$	(11	)
States of the U.S. 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	)		4,206		(220	)		5,273		(234	)
Preferred stock		490		(2	)		504		(23	)		994		(25	)
Total temporarily impaired securities	$	74,912	$	(658	)	$	8,520	$	(417	)	$	83,432	$	(1,075	)