Investment Securities (Tables)

6 Months Ended

Jun. 30, 2014

Investments Debt And Equity Securities [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 June 30, 2014, are as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Obligations of U.S. government sponsored enterprises	$	8,491	$	36	$	(20	)	$	8,507
Corporate debt securities		67,432		829		(60	)		68,201
Commercial paper		51,481		—		—			51,481
Foreign corporate debt securities		18,790		78		(17	)		18,851
Total fixed-maturity securities		146,194		943		(97	)		147,040
Less total unrestricted fixed-maturity securities – trading		8,481		252		(14	)		8,719
Less total unrestricted fixed-maturity securities – held to maturity		77,825		—		—			77,825
Total fixed-maturity securities held in trust	$	59,888	$	691	$	(83	)	$	60,496

The amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of fixed-maturity securities held in trust at December 31, 2013, are as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Obligations of U.S. government sponsored enterprises	$	15,868	$	127	$	(163	)	$	15,832
Corporate debt securities		80,624		1,450		(182	)		81,892
Commercial paper		98,929		4		(1	)		98,932
Foreign corporate debt securities		22,166		149		(170	)		22,145
Total fixed-maturity securities		217,587		1,730		(516	)		218,801
Less total unrestricted fixed-maturity securities – trading		7,326		232		(13	)		7,545
Less total unrestricted fixed-maturity securities – held to maturity		65,352		—		—			65,352
Total fixed-maturity securities held in trust	$	144,909	$	1,498	$	(503	)	$	145,904

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 June 30, 2014 by contractual maturity are as follows:

	Amortized Cost		Estimated Fair Value
Maturity in:
2014	$	70,301	$	70,307
2015-2019		75,893		76,733
Total fixed-maturity securities	$	146,194	$	147,040

Summary of Net Investment Income (Loss)

Net investment income (loss) for the periods ended June 30, 2014 and 2013, respectively, is summarized as follows:

	Three Months Ended June 30, 2014			Three Months Ended June 30, 2013			Six Months Ended June 30, 2014			Six Months Ended June 30, 2013
Investment income (loss):
Amortization of premium or discount on fixed-maturity securities	$	(429	)	$	(596	)	$	(958	)	$	(1,084	)
Investment income on fixed-maturity securities		906			1,779			2,008			3,637
Interest income on cash and equivalents		5			5			7			9
Realized net gain (loss) from sale of investments		389			(121	)		416			13
Unrealized (losses) on trading securities held at period end		(434	)		(3,775	)		(368	)		(4,587	)
Net investment income (loss)	$	437		$	(2,708	)	$	1,105		$	(2,012	)

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 June 30, 2014 and December 31, 2013, respectively:

	June 30, 2014
	Level 1		Level 2		Level 3		Total
Class of Security:
Obligations of U.S. government sponsored enterprises	$	3,029	$	5,478	$	—	$	8,507
Corporate debt securities		29,957		38,244		—		68,201
Commercial paper		51,481		—		—		51,481
Foreign corporate debt securities		7,796		11,055		—		18,851
Total fixed-maturity securities		92,263		54,777		—		147,040
Money market funds		7,964		—		—		7,964
Total	$	100,227	$	54,777	$	—	$	155,004
	December 31, 2013
	Level 1		Level 2		Level 3		Total
Class of Security:
Obligations of U.S. government sponsored enterprises	$	6,299	$	9,533	$	—	$	15,832
Corporate debt securities		11,891		70,001		—		81,892
Commercial paper		98,932		—		—		98,932
Foreign corporate debt securities		7,652		14,493		—		22,145
Total fixed-maturity securities		124,774		94,027		—		218,801
Money market funds		44,863		—		—		44,863
Total	$	169,637	$	94,027	$	—	$	263,664

Summary of Transfers between Level 1 and Level 2

	January 1, 2014 to June 30, 2014				January 1, 2013 to December 31, 2013
	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	$	—	$	4,388	$	—	$	4,598
Foreign corporate debt securities		—		1,026		—		2,537
Total transfers	$	—	$	5,414	$	—	$	7,135