| Investments in Available-for-Sale Fixed Maturity and Equity Securities |
The following table presents the recurring fair value measurements for our investments in available-for-sale fixed maturity and equity securities at June 30, 2026:
| |
|
Fair Value Measurements Using
|
|
| |
|
Fair Value
|
|
|
Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
|
|
|
Significant Other
Observable
Inputs (Level 2)
|
|
|
Significant
Unobservable
Inputs (Level 3)
|
|
| |
|
|
|
|
(in thousands)
|
|
|
|
|
|
U.S. Treasury securities and obligations of U.S. government corporations and agencies
|
|
$
|
20,398 |
|
|
$
|
— |
|
|
$
|
20,398 |
|
|
$
|
— |
|
|
Obligations of states and political subdivisions
|
|
|
50,259 |
|
|
|
— |
|
|
|
50,259 |
|
|
|
— |
|
|
Corporate securities
|
|
|
127,994 |
|
|
|
— |
|
|
|
127,994 |
|
|
|
— |
|
|
Mortgage-backed securities
|
|
|
437,869 |
|
|
|
— |
|
|
|
437,869 |
|
|
|
— |
|
|
Equity securities
|
|
|
48,880 |
|
|
|
46,644 |
|
|
|
2,236 |
|
|
|
— |
|
|
Total investments in the fair value hierarchy
|
|
$
|
685,400 |
|
|
$
|
46,644 |
|
|
$
|
638,756 |
|
|
$
|
— |
|
The following table presents the recurring fair value measurements for our investments in available-for-sale fixed maturity and equity securities at December 31, 2025:
| |
|
Fair Value Measurements Using
|
|
| |
|
Fair Value
|
|
|
Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
|
|
|
Significant Other
Observable
Inputs (Level 2)
|
|
|
Significant
Unobservable
Inputs (Level 3)
|
|
| |
|
|
|
|
(in thousands)
|
|
|
|
|
|
U.S. Treasury securities and obligations of U.S. government corporations and agencies
|
|
$
|
24,329 |
|
|
$
|
— |
|
|
$
|
24,329 |
|
|
$
|
— |
|
|
Obligations of states and political subdivisions
|
|
|
48,551 |
|
|
|
— |
|
|
|
48,551 |
|
|
|
— |
|
|
Corporate securities
|
|
|
130,925 |
|
|
|
— |
|
|
|
130,925 |
|
|
|
— |
|
|
Mortgage-backed securities
|
|
|
436,918 |
|
|
|
— |
|
|
|
436,918 |
|
|
|
— |
|
|
Equity securities
|
|
|
44,370 |
|
|
|
42,233 |
|
|
|
2,137 |
|
|
|
— |
|
|
Total investments in the fair value hierarchy
|
|
$
|
685,093 |
|
|
$
|
42,233 |
|
|
$
|
642,860 |
|
|
$
|
— |
|
|