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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