Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2017

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 March 31, 2017:


	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	$	38,607	$	—	$	38,607	$	—
Obligations of states and political subdivisions		174,500		—		174,500		—
Corporate securities		91,300		—		91,300		—
Mortgage-backed securities		206,762		—		206,762		—
Equity securities		36,365		36,365		—		—

Total investments in the fair value hierarchy		547,534		36,365		511,169		—

Investment measured at net asset value		12,236		—		—		—

Totals	$	559,770	$	36,365	$	511,169	$	—

The following table presents our fair value measurements for our investments in available-for-sale fixed maturity and equity securities at December 31, 2016:


	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	$	38,588	$	—	$	38,588	$	—
Obligations of states and political subdivisions		186,083		—		186,083		—
Corporate securities		87,456		—		87,456		—
Mortgage-backed securities		202,948		—		202,948		—
Equity securities		35,922		35,922		—		—

Total investments in the fair value hierarchy		550,997		35,922		515,075		—

Investment measured at net asset value		11,166		—		—		—

Totals	$	562,163	$	35,922	$	515,075	$	—