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Disclosures About Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Disclosures About Fair Value of Financial Instruments [Abstract]

Financial Instruments Carried at Fair Value Measured on a Recurring Basis

As of December 31, 2023, financial instruments carried at fair value were measured on a recurring basis as summarized below:

Assets:		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total
Fixed maturities		$	—			$	218,219			$	—			$	218,219
Equity securities			9,228				—				185				9,413
Cash equivalents			14,834				—				—				14,834
Total		$	24,062			$	218,219			$	185			$	242,466

As of December 31, 2022, financial instruments carried at fair value were measured on a recurring basis as summarized below:

Assets:		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total
Fixed maturities		$	—			$	208,729			$	—			$	208,729
Equity securities			11,406				—				156				11,562
Cash equivalents			18,861				—				—				18,861
Total		$	30,267			$	208,729			$	156			$	239,152

Carrying Amount, Estimated Fair Value and Level within the Fair Value Hierarchy of Financial Instruments

The following table sets forth the carrying amount, estimated fair value and level within the fair value hierarchy of the Company’s financial instruments as of December 31, 2023 and 2022.

		Level in				2023								2022
		Fair Value Hierarchy⁽¹⁾				Carrying Amount				Estimated Fair Value				Carrying Amount				Estimated Fair Value
Assets:
Cash and cash equivalents		Level 1				$	28,301			$	28,301			$	28,863			$	28,863
Fixed maturities		Level 2					218,219				218,219				208,729				208,729
Equity securities		⁽¹⁾					9,413				9,413				11,562				11,562
Policy loans		Level 3					1,778				1,778				1,759				1,759

Liabilities:
Junior subordinated debentures, net		Level 2					33,738				33,670				33,738				33,810
Revolving credit facility		Level 2					3,019				3,019				2,009				2,009

(1)	See the aforementioned information for a description of the fair value hierarchy as well as a disclosure of levels for classes of these financial assets.