Investments (Tables)

12 Months Ended

Dec. 31, 2013

Schedule for Fixed Income Securities at Amortized Cost, Gross Unrealized Gains and Losses and Fair Value

The amortized cost, gross unrealized gains and losses and fair value for fixed income securities are as follows:

	Amortized cost		Gross unrealized					Fair value
($ in thousands)			Gains		Losses
December 31, 2013
U.S. government and agencies	$	70,790	$	3,113	$	(57	)	$	73,846
Municipal		2,499		270		—			2,769
Corporate		190,186		5,784		(3,993	)		191,977
Foreign government		4,999		165		—			5,164
RMBS		13,866		584		—			14,450
CMBS		2,588		88		—			2,676
Total fixed income securities	$	284,928	$	10,004	$	(4,050	)	$	290,882
December 31, 2012
U.S. government and agencies	$	86,428	$	5,659	$	—		$	92,087
Municipal		2,499		401		—			2,900
Corporate		178,824		13,173		(29	)		191,968
Foreign government		4,999		265		—			5,264
RMBS		28,239		1,498		—			29,737
CMBS		8,335		268		—			8,603
Total fixed income securities	$	309,324	$	21,264	$	(29	)	$	330,559

Schedule for Fixed Income Securities Based on Contractual Maturities

The scheduled maturities for fixed income securities are as follows as of December 31, 2013:

($ in thousands)	Amortized cost		Fair value
Due in one year or less	$	35,518	$	35,883
Due after one year through five years		110,661		116,264
Due after five years through ten years		111,316		111,036
Due after ten years		10,979		10,573
		268,474		273,756
RMBS and CMBS		16,454		17,126
Total	$	284,928	$	290,882

Schedule of Net Investment Income

Net investment income for the years ended December 31 is as follows:

($ in thousands)	2013			2012			2011
Fixed income securities	$	11,545		$	12,138		$	12,133
Short-term investments		23			20			11
Investment income, before expense		11,568			12,158			12,144
Investment expense		(633	)		(568	)		(308	)
Net investment income	$	10,935		$	11,590		$	11,836

Schedule of Unrealized Net Capital Gains and Losses Included in Accumulated Other Comprehensive Income

Unrealized net capital gains and losses included in accumulated other comprehensive income are as follows:

	Fair Value		Gross unrealized					Unrealized net gains
($ in thousands)			Gains		Losses
December 31, 2013
Fixed income securities	$	290,882	$	10,004	$	(4,050	)	$	5,954
Short-term investments		55,959		1		(1	)		—
Unrealized net capital gains and losses, pre-tax									5,954
Deferred income taxes									(2,084	)
Unrealized net capital gains and losses, after-tax								$	3,870

	Fair value		Gross unrealized					Unrealized  net gains
December 31, 2012			Gains		Losses
Fixed income securities	$	330,559	$	21,264	$	(29	)	$	21,235
Short-term investments		24,203		1		—			1
Unrealized net capital gains and losses, pre-tax									21,236
Deferred income taxes									(7,433	)
Unrealized net capital gains and losses, after-tax								$	13,803

Schedule of Change in Unrealized net Capital Gains and Losses

The change in unrealized net capital gains and losses for the years ended December 31 is as follows:

($ in thousands)	2013			2012			2011
Fixed income securities	$	(15,281	)	$	380		$	5,247
Short-term investments		(1	)		1			—
Total		(15,282	)		381			5,247
Deferred income taxes		5,349			(134	)		(1,836	)
(Decrease) increase in unrealized net capital gains and losses, after-tax	$	(9,933	)	$	247		$	3,411

Summary of Gross Unrealized Losses and Fair Value of Fixed Income by Length of Time

The following table summarizes the gross unrealized losses and fair value of fixed income securities by the length of time that individual securities have been in a continuous unrealized loss position.

	Less than 12 months							12 months or more							Total unrealized losses
($ in thousands)	Number of issues		Fair value		Unrealized losses			Number of issues		Fair value		Unrealized losses
December 31, 2013
U.S. government and agencies		1	$	4,942	$	(57	)		—	$	—	$	—		$	(57	)
Corporate		23		75,754		(3,795	)		1		1,770		(198	)		(3,993	)
Total		24	$	80,696	$	(3,852	)		1	$	1,770	$	(198	)	$	(4,050	)
December 31, 2012
Corporate		1	$	1,936	$	(29	)		—	$	—	$	—		$	(29	)
Total		1	$	1,936	$	(29	)		—	$	—	$	—		$	(29	)