Investment Securities (Tables)

9 Months Ended

Sep. 30, 2013

Text Block [Abstract]

Schedule of Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses and Estimated Fair Values of Fixed-Maturity Securities

The amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of fixed-maturity securities held in trust at September 30, 2013, are as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Obligations of U.S. government sponsored enterprises	$	58,262	$	419	$	(1,088	)	$	57,593
Corporate debt securities		102,143		1,832		(413	)		103,562
Commercial paper		59,978		—		—			59,978
Foreign corporate debt securities		26,848		200		(213	)		26,835
Commercial mortgage-backed securities		2,385		—		(53	)		2,332
Total fixed-maturity securities		249,616		2,451		(1,767	)		250,300
Less total unrestricted fixed-maturity securities – trading		10,354		230		(185	)		10,399
Less total unrestricted fixed-maturity securities – held to maturity		67,529		—		—			67,529
Total fixed-maturity securities held in trust	$	171,733	$	2,221	$	(1,582	)	$	172,372

The amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of fixed-maturity securities held in trust at December 31, 2012, are as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Obligations of U.S. government sponsored enterprises	$	97,103	$	1,416	$	(156	)	$	98,363
Corporate debt securities		91,997		3,010		(34	)		94,973
Commercial paper		54,949		—		—			54,949
Foreign corporate debt securities		18,305		379		(18	)		18,666
Commercial mortgage-backed securities		10,541		64		(87	)		10,518
Total fixed-maturity securities		272,895		4,869		(295	)		277,469
Less total unrestricted fixed-maturity securities – trading		14,246		168		(18	)		14,396
Less total unrestricted fixed-maturity securities – held to maturity		61,413		—		—			61,413
Total fixed-maturity securities held in trust	$	197,236	$	4,701	$	(277	)	$	201,660

Schedule of Amortized Cost and Estimated Fair Value of Fixed-Maturity Securities by Contractual Maturity

Amortized cost and estimated fair value of fixed-maturity securities at September 30, 2013 by contractual maturity are as follows:

	Amortized Cost		Estimated Fair Value
Maturity in:
2013	$	62,361	$	62,356
2014-2017		130,860		132,576
2018-2022		30,677		29,964
Thereafter		23,333		23,072
Mortgage-backed securities		2,385		2,332
Total fixed-maturity securities	$	249,616	$	250,300

Summary of Net Investment Income

Net investment income for the periods ending September 30, 2013 and 2012 is summarized as follows:

	Successor			Successor			Successor			Successor			Predecessor
	Three Months Ended September 30, 2013			Three Months Ended September 30, 2012			Nine Months Ended September 30, 2013			Period from March 20, 2012 through September 30, 2012			Period from January 1, 2012 through March 19, 2012
Investment income:
Amortization of premium or discount on fixed-maturity securities	$	(631	)	$	(507	)	$	(1,715	)	$	(1,263	)	$	(523	)
Investment income on fixed-maturity securities		1,621			2,113			5,258			5,377			2,467
Interest income on cash and equivalents		2			58			11			87			3
Realized net gain (loss) from sale of investment		(767	)		2,345			(754	)		2,617			176
Unrealized (losses) gains on trading securities held at period end		565			(867	)		(4,022	)		(594	)		1,049
Net investment income	$	790		$	3,142		$	(1,222	)	$	6,224		$	3,172

Schedule of Investments in Accordance with Fair Value Measurement

The following tables show how the Company’s investments are categorized in accordance with fair value measurement as of September 30, 2013 and December 31, 2012:

	September 30, 2013
	Level 1		Level 2		Level 3		Total
Class of Security:
Obligations of U.S. government sponsored enterprises	$	7,438	$	50,155	$	—	$	57,593
Corporate debt securities		19,285		84,277		—		103,562
Commercial paper		59,978		—		—		59,978
Foreign corporate debt securities		2,561		24,274		—		26,835
Commercial mortgage-backed securities		—		2,332		—		2,332
Total fixed maturity securities		89,262		161,038		—		250,300
Money market funds		20,556		—		—		20,556
Total	$	109,818	$	161,038	$	—	$	270,856
	December 31, 2012
	Level 1		Level 2		Level 3		Total
Class of Security:
Obligations of U.S. government sponsored enterprises	$	11,362	$	87,001	$	—	$	98,363
Corporate debt securities		22,833		72,141		—		94,974
Commercial paper		54,948		—		—		54,948
Foreign corporate debt securities		1,001		17,665		—		18,666
Commercial mortgage-backed securities		—		10,518		—		10,518
Total fixed maturity securities		90,144		187,325		—		277,469
Money market funds		33,628		—		—		33,628
Total	$	123,772	$	187,325	$	—	$	311,097

Summary of Transfers between Level 1 and Level 2

	Nine months ended September 30, 2013				Year ended December 31, 2012
	Transfers from Level 1 to Level 2		Transfers from Level 2 to Level 1		Transfers from Level 1 to Level 2		Transfers from Level 2 to Level 1
Class of securities:
Corporate securities	$	—	$	9,716	$	—	$	16,745
Foreign corporate debt securities		—		2,561		—		1,001
Total Transfers	$	—	$	12,277	$	—	$	17,746