Investment Securities (Tables)
|
12 Months Ended |
Dec. 31, 2016 |
|---|
| 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 total fixed-maturity securities and total fixed-maturity securities held in trust at December 31, 2016, are as follows:
|
|
December 31, 2016 |
|
|
Class of securities: |
Amortized Cost |
|
|
Gross Unrealized Gains |
|
|
Gross Unrealized Losses |
|
|
Estimated Fair Value |
|
|
U.S. government treasury securities |
$ |
249 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
249 |
|
|
Obligations of U.S. government sponsored enterprises |
|
59,450 |
|
|
|
1 |
|
|
|
(80 |
) |
|
|
59,371 |
|
|
Corporate debt securities |
|
11,415 |
|
|
|
9 |
|
|
|
(9 |
) |
|
|
11,415 |
|
|
Foreign corporate debt securities |
|
5,798 |
|
|
|
5 |
|
|
|
(7 |
) |
|
|
5,796 |
|
|
Total fixed-maturity securities |
|
76,912 |
|
|
|
15 |
|
|
|
(96 |
) |
|
|
76,831 |
|
|
Less total unrestricted fixed-maturity securities |
|
47,635 |
|
|
|
— |
|
|
|
(10 |
) |
|
|
47,625 |
|
|
Total fixed-maturity securities held in trust |
$ |
29,277 |
|
|
$ |
15 |
|
|
$ |
(86 |
) |
|
$ |
29,206 |
|
The amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of total fixed-maturity securities and total fixed-maturity securities held in trust at December 31, 2015, are as follows:
|
|
December 31, 2015 |
|
|
Class of securities: |
Amortized Cost |
|
|
Gross Unrealized Gains |
|
|
Gross Unrealized Losses |
|
|
Estimated Fair Value |
|
|
U.S. government treasury securities |
$ |
249 |
|
|
$ |
— |
|
|
$ |
(1 |
) |
|
$ |
248 |
|
|
Obligations of U.S. government sponsored enterprises |
|
69,392 |
|
|
|
13 |
|
|
|
(23 |
) |
|
|
69,382 |
|
|
Corporate debt securities |
|
21,048 |
|
|
|
62 |
|
|
|
(49 |
) |
|
|
21,061 |
|
|
Foreign corporate debt securities |
|
8,399 |
|
|
|
3 |
|
|
|
(38 |
) |
|
|
8,364 |
|
|
Total fixed-maturity securities |
|
99,088 |
|
|
|
78 |
|
|
|
(111 |
) |
|
|
99,055 |
|
|
Less total unrestricted fixed-maturity securities |
|
66,481 |
|
|
|
14 |
|
|
|
(11 |
) |
|
|
66,484 |
|
|
Total fixed-maturity securities held in trust |
$ |
32,607 |
|
|
$ |
64 |
|
|
$ |
(100 |
) |
|
$ |
32,571 |
|
|
| 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 December 31, 2016 by contractual maturity are as follows:
|
|
Amortized
Cost |
|
|
Estimated
Fair Value |
|
|
Maturity in: |
|
|
|
|
|
|
|
|
2017 |
$ |
58,544 |
|
|
$ |
58,546 |
|
|
2018 |
|
15,338 |
|
|
|
15,280 |
|
|
2019 |
|
3,030 |
|
|
|
3,005 |
|
|
Total fixed-maturity securities |
$ |
76,912 |
|
|
$ |
76,831 |
|
|
| Summary of Net Investment Income (Loss) |
Net investment income (loss) for the periods ended December 31, 2016, 2015 and 2014, respectively, is summarized as follows:
|
|
Year ended
December 31, 2016 |
|
|
Year ended
December 31, 2015 |
|
|
Year ended
December 31, 2014 |
|
|
Investment income: |
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of premium or discount on fixed-maturity securities |
$ |
(227 |
) |
|
$ |
(574 |
) |
|
$ |
(1,663 |
) |
|
Investment income on fixed-maturity securities |
|
921 |
|
|
|
1,324 |
|
|
|
3,369 |
|
|
Interest income on cash and cash equivalents |
|
1,572 |
|
|
|
268 |
|
|
|
11 |
|
|
Realized net gain from sale of investments |
|
24 |
|
|
|
324 |
|
|
|
436 |
|
|
Unrealized (loss) on trading securities held at period end |
|
(41 |
) |
|
|
(463 |
) |
|
|
(774 |
) |
|
Net investment income |
$ |
2,249 |
|
|
$ |
879 |
|
|
$ |
1,379 |
|
|
| 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 December 31, 2016 and 2015, respectively:
|
|
December 31, 2016 |
|
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
|
Class of securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. government treasury securities |
$ |
249 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
249 |
|
|
Obligations of U.S. government sponsored enterprises |
|
47,489 |
|
|
|
11,882 |
|
|
|
— |
|
|
|
59,371 |
|
|
Corporate debt securities |
|
7,033 |
|
|
|
4,382 |
|
|
|
— |
|
|
|
11,415 |
|
|
Foreign corporate debt securities |
|
5,796 |
|
|
|
— |
|
|
|
— |
|
|
|
5,796 |
|
|
Total fixed-maturity securities |
|
60,567 |
|
|
|
16,264 |
|
|
|
— |
|
|
|
76,831 |
|
|
Money market funds |
|
4,548 |
|
|
|
— |
|
|
|
— |
|
|
|
4,548 |
|
|
Total |
$ |
65,115 |
|
|
$ |
16,264 |
|
|
$ |
— |
|
|
$ |
81,379 |
|
|
|
December 31, 2015 |
|
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
|
Class of securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. government treasury securities |
$ |
248 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
248 |
|
|
Obligations of U.S. government sponsored enterprises |
|
63,909 |
|
|
|
5,473 |
|
|
|
— |
|
|
|
69,382 |
|
|
Corporate debt securities |
|
8,873 |
|
|
|
12,188 |
|
|
|
— |
|
|
|
21,061 |
|
|
Foreign corporate debt securities |
|
2,007 |
|
|
|
6,357 |
|
|
|
— |
|
|
|
8,364 |
|
|
Total fixed-maturity securities |
|
75,037 |
|
|
|
24,018 |
|
|
|
— |
|
|
|
99,055 |
|
|
Money market funds |
|
7,301 |
|
|
|
— |
|
|
|
— |
|
|
|
7,301 |
|
|
Total |
$ |
82,338 |
|
|
$ |
24,018 |
|
|
$ |
— |
|
|
$ |
106,356 |
|
|
| Summary of Transfers between Level 1 and Level 2 |
|
|
|
2016 |
|
|
2015 |
|
|
|
|
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 |
|
$ |
— |
|
|
$ |
5,737 |
|
|
$ |
— |
|
|
$ |
7,860 |
|
|
Foreign corporate debt securities |
|
|
— |
|
|
|
5,295 |
|
|
|
— |
|
|
|
2,007 |
|
|
Total transfers |
|
$ |
— |
|
|
$ |
11,032 |
|
|
$ |
— |
|
|
$ |
9,867 |
|
|