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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2017
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, 2017, are as follows:

 

December 31, 2017

 

Class of securities:

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Estimated Fair Value

 

Obligations of U.S. government sponsored enterprises

$

2,249

 

 

$

—

 

 

$

(10

)

 

$

2,239

 

Corporate debt securities

 

1,425

 

 

 

—

 

 

 

(4

)

 

 

1,421

 

Total fixed-maturity securities

 

3,674

 

 

 

—

 

 

 

(14

)

 

 

3,660

 

Less total unrestricted fixed-maturity securities

 

2,151

 

 

 

—

 

 

 

(9

)

 

 

2,142

 

Total fixed-maturity securities held in trust

$

1,523

 

 

$

—

 

 

$

(5

)

 

$

1,518

 

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

 

 
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, 2017 by contractual maturity are as follows:

 

 

Amortized

Cost

 

 

Estimated

Fair Value

 

Maturity in:

 

 

 

 

 

 

 

2018

$

3,674

 

 

$

3,660

 

Total fixed-maturity securities

$

3,674

 

 

$

3,660

 

 
Summary of Net Investment Income

Net investment income for the years ended December 31, 2017, 2016 and 2015, respectively, is summarized as follows:

 

 

Year ended

December 31, 2017

 

 

Year ended

December 31, 2016

 

 

Year ended

December 31, 2015

 

Investment income:

 

 

 

 

 

 

 

 

 

 

 

Amortization of premium or discount on fixed-maturity securities

$

(116

)

 

$

(227

)

 

$

(574

)

Investment income on fixed-maturity securities

 

428

 

 

 

921

 

 

 

1,324

 

Interest income on cash and cash equivalents

 

6,481

 

 

 

1,572

 

 

 

268

 

Realized net (loss) gain from sale of investments

 

(68

)

 

 

24

 

 

 

324

 

Unrealized (loss) on cash equivalents held at period end

 

(116

)

 

 

—

 

 

 

—

 

Unrealized gain (loss) on trading securities held at period end

 

61

 

 

 

(41

)

 

 

(463

)

Net investment income

$

6,670

 

 

$

2,249

 

 

$

879

 

 
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, 2017 and 2016, respectively:

 

December 31, 2017

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Class of securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government treasury securities

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Obligations of U.S. government sponsored enterprises

 

995

 

 

 

1,244

 

 

 

—

 

 

 

2,239

 

Corporate debt securities

 

1,421

 

 

 

—

 

 

 

—

 

 

 

1,421

 

Foreign corporate debt securities

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total fixed-maturity securities

 

2,416

 

 

 

1,244

 

 

 

—

 

 

 

3,660

 

Money market funds

 

30,780

 

 

 

—

 

 

 

—

 

 

 

30,780

 

Total

$

33,196

 

 

$

1,244

 

 

$

—

 

 

$

34,440

 

 

 

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

 

 
Summary of Transfers between Level 1 and Level 2

 

2017

 

 

2016

 

 

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:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Obligations of U.S. government sponsored enterprises

$

—

 

 

$

995

 

 

$

—

 

 

$

—

 

Corporate securities

 

—

 

 

 

1,421

 

 

 

—

 

 

 

5,737

 

   Foreign corporate debt securities

 

—

 

 

 

—

 

 

 

—

 

 

 

5,295

 

Total transfers

$

—

 

 

$

2,416

 

 

$

—

 

 

$

11,032