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Investments (Tables)
 9 Months Ended
Sep. 30, 2019
Investments [Abstract]  
Available-for-Sale Securities
The following is a summary of available-for-sale securities at September 30, 2019 and December 31, 2018:

  
Fair
Value
  
Cost or
Amortized Cost
  
Gross
Unrealized Gains
  
Gross
Unrealized Losses
  
Net Unrealized
Gains (Losses)
 
September 30, 2019
               
Fixed income securities
               
Agency collateralized mortgage obligations
 
$
14,426
  
$
13,911
  
$
518
  
$
(3
)
 
$
515
 
Agency mortgage-backed securities
  
51,246
   
49,567
   
1,691
   
(12
)
  
1,679
 
Asset-backed securities
  
99,295
   
99,834
   
580
   
(1,119
)
  
(539
)
Bank loans
  
14,625
   
14,871
   
54
   
(300
)
  
(246
)
Certificates of deposit
  
2,835
   
2,835
   
–
   
–
   
–
 
Collateralized mortgage obligations
  
5,718
   
5,234
   
571
   
(87
)
  
484
 
Corporate securities
  
267,223
   
261,191
   
6,858
   
(826
)
  
6,032
 
Mortgage-backed securities
  
47,381
   
46,235
   
1,290
   
(144
)
  
1,146
 
Municipal obligations
  
32,986
   
32,280
   
755
   
(49
)
  
706
 
Non-U.S. government obligations
  
24,068
   
23,705
   
364
   
(1
)
  
363
 
U.S. government obligations
  
198,038
   
195,099
   
3,326
   
(387
)
  
2,939
 
Total fixed income securities
 
$
757,841
  
$
744,762
  
$
16,007
  
$
(2,928
)
 
$
13,079
 

  
Fair
Value
  
Cost or
Amortized Cost
  
Gross
Unrealized Gains
  
Gross
Unrealized Losses
  
Net Unrealized
Gains (Losses)
 
December 31, 2018
               
Fixed income securities
               
Agency collateralized mortgage obligations
 
$
10,687
  
$
10,636
  
$
145
  
$
(94
)
 
$
51
 
Agency mortgage-backed securities
  
37,385
   
37,168
   
371
   
(154
)
  
217
 
Asset-backed securities
  
64,422
   
66,241
   
14
   
(1,833
)
  
(1,819
)
Bank loans
  
9,750
   
10,208
   
27
   
(485
)
  
(458
)
Certificates of deposit
  
2,835
   
2,835
   
–
   
–
   
–
 
Collateralized mortgage obligations
  
5,423
   
5,095
   
376
   
(48
)
  
328
 
Corporate securities
  
190,450
   
196,925
   
127
   
(6,602
)
  
(6,475
)
Mortgage-backed securities
  
38,540
   
38,586
   
377
   
(423
)
  
(46
)
Municipal obligations
  
29,155
   
29,102
   
239
   
(186
)
  
53
 
Non-U.S. government obligations
  
25,180
   
25,339
   
6
   
(165
)
  
(159
)
U.S. government obligations
  
178,818
   
178,369
   
1,252
   
(803
)
  
449
 
Total fixed income securities
 
$
592,645
  
$
600,504
  
$
2,934
  
$
(10,793
)
 
$
(7,859
)
Fixed Maturity and Equity Security Investments in Unrealized Loss Position
The following table summarizes, for available-for-sale fixed income securities in an unrealized loss position at September 30, 2019 and  December 31, 2018, the aggregate fair value and gross unrealized loss categorized by the duration individual securities have been continuously in an unrealized loss position.

  
September 30, 2019
  
December 31, 2018
 
  
Number of
Securities
  
Fair
Value
  
Gross
Unrealized Loss
  
Number of
Securities
  
Fair
Value
  
Gross
Unrealized Loss
 
Fixed income securities:
                  
12 months or less
  
97
  
$
106,943
  
$
(2,097
)
  
275
  
$
282,646
  
$
(7,296
)
Greater than 12 months
  
86
   
58,053
   
(831
)
  
217
   
131,001
   
(3,497
)
Total fixed income securities
  
183
  
$
164,996
  
$
(2,928
)
  
492
  
$
413,647
  
$
(10,793
)
Fair Value and Cost or Amortized Cost of Fixed Maturity Investments by Contractual Maturity

The fair value and the cost or amortized costs of fixed income investments at September 30, 2019, organized by contractual maturity, are shown below.  Actual maturities may ultimately differ from contractual maturities because borrowers have, in some cases, the right to call or prepay obligations with or without call or prepayment penalties. Pre-refunded municipal bonds are classified based on their pre-refunded call dates.

  
Fair
Value
  
Cost or
Amortized Cost
 
One year or less
 
$
67,076
  
$
67,008
 
Excess of one year to five years
  
336,640
   
330,035
 
Excess of five years to ten years
  
129,362
   
126,528
 
Excess of ten years
  
12,416
   
11,645
 
Contractual maturities
  
545,494
   
535,216
 
Asset-backed securities
  
212,347
   
209,546
 
Total
 
$
757,841
  
$
744,762
 
Net Realized and Unrealized Gains (Losses) on Investments
Following is a summary of the components of net realized and unrealized gains (losses) on investments for the periods presented in the accompanying condensed consolidated statements of operations.

  
Three Months Ended
September 30
  
Nine Months Ended
September 30
 
  
2019
  
2018
  
2019
  
2018
 
Gross gains on available-for-sale fixed income securities sold during the period
 
$
2,407
  
$
2,690
  
$
9,710
  
$
8,824
 
Gross losses on available-for-sale fixed income securities sold during the period
  
(2,728
)
  
(2,743
)
  
(9,409
)
  
(8,539
)
                 
Other-than-temporary impairments
  
(58
)
  
–
   
(404
)
  
–
 
                 
Change in value of limited partnership investments
  
278
   
(1,073
)
  
1,000
   
(6,518
)
                 
Gains on equity securities:
                
Realized gains on equity securities sold during the period
  
1,520
   
502
   
1,571
   
1,455
 
Unrealized gains (losses) on equity securities held at the end of the period
  
(1,294
)
  
2,997
   
6,573
   
(817
)
Realized and unrealized gains on equity securities during the period
  
226
   
3,499
   
8,144
   
638
 
                 
Net realized and unrealized gains (losses) on investments
 
$
125
  
$
2,373
  
$
9,041
  
$
(5,595
)