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Fair Value (Tables)
 9 Months Ended
Sep. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Measurements on a Recurring Basis by Asset Class and Level of Input
The following tables present our fair value measurements on a recurring basis by asset class and level of input as of: 
September 30, 2022
(in thousands)TotalLevel 1Level 2Level 3
Available-for-sale securities:
Corporate debt securities$547,193 $0 $539,918 $7,275 
Collateralized debt obligations100,671 0 100,671 0 
Commercial mortgage-backed securities63,217 0 57,850 5,367 
Residential mortgage-backed securities128,546 0 124,884 3,662 
Other debt securities22,855 0 22,855 0 
U.S. Treasury12,205 0 12,205 0 
Total available-for-sale securities874,687 0 858,383 16,304 
Equity securities:
Financial services sector57,595 0 55,747 1,848 
Utilities sector6,072 0 6,072 0 
Energy sector3,513 0 3,513 0 
Consumer sector1,418 0 1,418 0 
Communications sector371 0 371 0 
Total equity securities68,969 0 67,121 1,848 
Total$943,656 $0 $925,504 $18,152 


December 31, 2021
(in thousands)TotalLevel 1Level 2Level 3
Available-for-sale securities:
Corporate debt securities$573,165 $0 $567,909 $5,256 
Collateralized debt obligations115,462 0 115,462 0 
Commercial mortgage-backed securities89,324 0 73,596 15,728 
Residential mortgage-backed securities139,922 0 131,108 8,814 
Other debt securities23,920 0 23,920 0 
U.S. Treasury4,292 0 4,292 0 
Total available-for-sale securities946,085 0 916,287 29,798 
Equity securities:
Financial services sector71,722 1,624 68,015 2,083 
Utilities sector6,259 0 6,259 0 
Energy sector6,448 10 6,438 0 
Consumer sector3,314 0 3,314 0 
Total equity securities87,743 1,634 84,026 2,083 
Total$1,033,828 $1,634 $1,000,313 $31,881 
Schedule of Roll Forward of Level 3 Fair Value Measurements on a Recurring Basis
Level 3 Assets – 2022 Quarterly Change:

(in thousands) 		Beginning balance at June 30, 2022
Included in earnings(1)
Included
in other
comprehensive
income		PurchasesSales
Transfers into
Level 3(2)
Transfers out of Level 3(2)
Ending balance at September 30, 2022
Available-for-sale securities:        
Corporate debt securities$6,109 $(7)$(28)$753 $(495)$2,899 $(1,956)$7,275 
Commercial mortgage-backed securities 8,871 (188)(413)0 (660)1,174 (3,417)5,367 
Residential mortgage-backed securities42,549 (667)(1,708)0 (6,626)674 (30,560)3,662 
Total available-for-sale securities57,529 (862)(2,149)753 (7,781)4,747 (35,933)16,304 
Equity securities1,866 (18)0 0 0 0 0 1,848 
Total Level 3 securities$59,395 $(880)$(2,149)$753 $(7,781)$4,747 $(35,933)$18,152 

Level 3 Assets – 2022 Year-to-Date Change:
(in thousands)Beginning balance at December 31, 2021
Included in earnings(1)
Included
in other
comprehensive
income		PurchasesSales
Transfers into
Level 3(2)
Transfers out of Level 3(2)
Ending balance at September 30, 2022
Available-for-sale securities:
Corporate debt securities$5,256 $(2)$(417)$5,687 $(3,614)$8,673 $(8,308)$7,275 
Commercial mortgage-backed securities15,728 (892)(1,071)0 (3,825)5,509 (10,082)5,367 
Residential mortgage-backed securities8,814 (643)(2,042)4,887 (9,472)38,214 (36,096)3,662 
Total available-for-sale securities29,798 (1,537)(3,530)10,574 (16,911)52,396 (54,486)16,304 
Equity securities2,083 (235)0 0 0 0 0 1,848 
Total Level 3 securities$31,881 $(1,772)$(3,530)$10,574 $(16,911)$52,396 $(54,486)$18,152 

Level 3 Assets – 2021 Quarterly Change:
(in thousands)Beginning balance at June 30, 2021
Included in earnings(1)
Included
in other
comprehensive
income		PurchasesSales
Transfers into
Level 3(2)
Transfers out of Level 3(2)
Ending balance at September 30, 2021
Available-for-sale securities:
Corporate debt securities$6,078 $7 $3 $1,995 $(1,213)$1,129 $(1,802)$6,197 
Collateralized debt obligations750 0 0 0 0 0 (750)0 
Commercial mortgage-backed securities17,133 (90)(143)229 (2,912)0 (4,523)9,694 
Residential mortgage-backed securities3,041 (5)(26)0 (366)4,288 (2,644)4,288 
Other debt securities2,544 0 1 0 (757)0 (1,334)454 
Total available-for-sale securities29,546 (88)(165)2,224 (5,248)5,417 (11,053)20,633 
Equity securities1,000 13 0 0 0 1,093 0 2,106 
Total Level 3 securities$30,546 $(75)$(165)$2,224 $(5,248)$6,510 $(11,053)$22,739 
Level 3 Assets – 2021 Year-to-Date Change:
(in thousands)Beginning balance at December 31, 2020
Included in earnings(1)
Included
in other
comprehensive
income		PurchasesSales
Transfers into
Level 3(2)
Transfers out of Level 3(2)
Ending balance at September 30, 2021
Available-for-sale securities:
Corporate debt securities$5,825 $27 $82 $4,253 $(1,886)$3,678 $(5,782)$6,197 
Collateralized debt obligations0 0 0 750 0 0 (750)0 
Commercial mortgage-backed securities19,462 (287)(590)3,073 (3,878)3,854 (11,940)9,694 
Residential mortgage-backed securities937 (11)(26)0 (842)7,318 (3,088)4,288 
Other debt securities0 0 (1)2,588 (799)0 (1,334)454 
Total available-for-sale securities26,224 (271)(535)10,664 (7,405)14,850 (22,894)20,633 
Equity securities0 18 0 1,000 0 2,183 (1,095)2,106 
Total Level 3 securities$26,224 $(253)$(535)$11,664 $(7,405)$17,033 $(23,989)$22,739 
(1)These amounts are reported as net investment income and net realized and unrealized investment (losses) gains for each of the periods presented above.
(2)Transfers into and/or (out) of Level 3 are primarily attributable to the availability of market observable information and the re-evaluation of the observability of pricing inputs.
Schedule of Financial Instruments Not Carried at Fair Value
The following table presents the carrying values and fair values of financial instruments categorized as Level 3 in the fair value hierarchy that are recorded at carrying value as of:
September 30, 2022December 31, 2021
(in thousands)Carrying valueFair valueCarrying valueFair value
Agent loans (1)
$69,425 $57,457 $66,368 $68,957 
Long-term borrowings— — 94,070 103,981 
(1)The discount rate used to calculate fair value at September 30, 2022 is reflective of an increase in the BB+ financial yield curve.