Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Measurements for Investments in Available-for-Sale Fixed Maturity and Equity Securities

The following table presents our fair value measurements for our investments in available-for-sale fixed maturity and equity securities at September 30, 2014:


			Fair Value Measurements Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in thousands)
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	18,939	$	—	$	18,939	$	—
Obligations of states and political subdivisions		266,974		—		266,974		—
Corporate securities		59,135		—		59,135		—
Mortgage-backed securities		86,573		—		86,573		—
Equity securities		30,087		20,487		9,600		—

Totals	$	461,708	$	20,487	$	441,221	$	—

We did not transfer any investments between Levels 1 and 2 during the nine months ended September 30, 2014.

The following table presents our fair value measurements for our investments in available-for-sale fixed maturity and equity securities at December 31, 2013:


			Fair Value Measurements Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in thousands)
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	14,333	$	—	$	14,333	$	—
Obligations of states and political subdivisions		277,547		—		277,547		—
Corporate securities		40,672		—		40,672		—
Mortgage-backed securities		71,100		—		71,100		—
Equity securities		12,423		6,468		5,955		—

Totals	$	416,075	$	6,468	$	409,607	$	—