HCI (HCI) 10-Q 8 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	Apr. 30, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Trading Symbol	HCI
Entity Registrant Name	HCI Group, Inc.
Entity Central Index Key	0001400810
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Shares
Security Exchange Name	NYSE
Entity File Number	001-34126
Entity Incorporation, State or Country Code	FL
Entity Tax Identification Number	20-5961396
Entity Address, Address Line One	5300 West Cypress Street
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Tampa
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33607
City Area Code	813
Local Phone Number	849-9500
Document Quarterly Report	true
Document Transition Report	false
Entity Common Stock, Shares Outstanding		7,888,834

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets
Fixed-maturity securities, available for sale, at fair value (amortized cost: $186,224 and $199,954, respectively and allowance for credit losses: $439 and $0, respectively)	$ 185,845	$ 202,839
Equity securities, at fair value (cost: $25,514 and $31,863, respectively)	24,131	35,285
Short-term investments	464	491
Limited partnership investments	25,634	28,346
Investment in unconsolidated joint venture, at equity	746	762
Real estate investments	75,770	73,763
Total investments	312,590	341,486
Cash and cash equivalents	317,078	229,218
Restricted cash	700	700
Accrued interest and dividends receivable	1,924	1,616
Income taxes receivable	916	1,040
Premiums receivable	18,898	20,255
Prepaid reinsurance premiums	7,620	17,983
Reinsurance recoverable, net of allowance for credit losses:
Paid losses and loss adjustment expenses (allowance: $134 and $0, respectively)	16,766	16,155
Unpaid losses and loss adjustment expenses (allowance: $295 and $0, respectively)	100,937	116,523
Deferred policy acquisition costs	20,338	21,663
Property and equipment, net	14,569	14,698
Intangible assets, net	4,034	4,192
Other assets	19,969	17,080
Total assets	836,339	802,609
Liabilities and Stockholders’ Equity
Losses and loss adjustment expenses	207,108	214,697
Unearned premiums	165,155	181,163
Advance premiums	44,545	5,589
Assumed reinsurance balances payable	54	76
Accrued expenses	9,275	10,059
Deferred income taxes, net	3,268	4,008
Revolving credit facility	23,750	9,750
Long-term debt	165,416	163,695
Other liabilities	38,512	28,029
Total liabilities	657,083	617,066
Commitments and contingencies (Note 19)
Stockholders' equity:
Preferred stock
Common stock (no par value, 40,000,000 shares authorized, 7,735,204 and 7,764,564 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively)
Additional paid-in capital
Retained income	179,210	183,365
Accumulated other comprehensive income, net of taxes	46	2,178
Total stockholders’ equity	179,256	185,543
Total liabilities and stockholders’ equity	836,339	802,609
7% Series A Cumulative Convertible Preferred Stock [Member]
Stockholders' equity:
Preferred stock
Series B Preferred Stock [Member]
Stockholders' equity:
Preferred stock

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Available-for-sale Debt securities, Amortized cost	$ 186,224	$ 199,954
Available-for-sale Debt securities, Allowance for credit losses	(439)	0
Equity Securities, Cost	25,514	31,863
Paid losses and loss adjustments allowance	134	0
Unpaid losses and loss adjustments allowance	$ 295	$ 0
Preferred stock, no par value
Preferred stock, authorized	18,100,000	18,100,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, no par value
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	7,735,204	7,764,564
Common stock, outstanding	7,735,204	7,764,564
7% Series A Cumulative Convertible Preferred Stock [Member]
Preferred stock, no par value
Preferred stock, authorized	1,500,000	1,500,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Series B Preferred Stock [Member]
Preferred stock, no par value
Preferred stock, authorized	400,000	400,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue
Gross premiums earned	$ 92,365	$ 82,597
Premiums ceded	(30,719)	(31,413)
Net premiums earned	61,646	51,184
Net investment (loss) income	(192)	3,278
Net realized investment losses	(2,244)	(372)
Net unrealized investment (losses) gains	(4,805)	5,293
Credit losses on investments	(439)	0
Policy fee income	829	795
Other	585	456
Total revenue	55,380	60,634
Expenses
Losses and loss adjustment expenses	28,078	26,996
Policy acquisition and other underwriting expenses	11,826	9,673
General and administrative personnel expenses	8,367	7,364
Interest expense	2,970	4,337
Other operating expenses	3,482	2,981
Total expenses	54,723	51,351
Income before income taxes	657	9,283
Income tax expense	110	2,545
Net income	$ 547	$ 6,738
Basic earnings per share	$ 0.07	$ 0.82
Diluted earnings per share	$ 0.07	$ 0.82

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 547	$ 6,738
Change in unrealized (loss) gain on investments:
Net unrealized (loss) gain arising during the period	(3,471)	2,704
Credit losses charged to income	439	0
Call and repayment gains charged to investment income	(66)	0
Reclassification adjustment for net realized loss (gain)	273	(33)
Net change in unrealized (loss) gain	(2,825)	2,671
Deferred income taxes on above change	693	(677)
Total other comprehensive (loss) income, net of income taxes	(2,132)	1,994
Comprehensive (loss) income	$ (1,585)	$ 8,732

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Share Repurchase Plan [Member]	Common Stock [Member]	Common Stock [Member]Share Repurchase Plan [Member]	Additional Paid-In Capital [Member]	Additional Paid-In Capital [Member]Share Repurchase Plan [Member]	Retained Income [Member]	Accumulated Other Comprehensive (Loss) Income, Net of Tax [Member]
Beginning Balance at Dec. 31, 2018	$ 181,441				$ 0		$ 182,894	$ (1,453)
Beginning Balance, shares at Dec. 31, 2018			8,356,730
Net income	6,738						6,738
Total other comprehensive loss, net of income taxes	1,994							1,994
Issuance of restricted stock	0		$ 0		0		0	0
Issuance of restricted stock, shares			40,000
Forfeiture of restricted stock, value	0		$ 0		0		0	0
Forfeiture of restricted stock, shares			(4,681)
Repurchase and retirement of common stock, value	(18)	$ (1,338)			(18)	$ (1,338)
Repurchase and retirement of common stock, shares			(371)	(31,789)
Common stock dividends	(3,236)						(3,236)
Stock-based compensation	1,459				1,459
Ending Balance at Mar. 31, 2019	187,040				103		186,396	541
Ending Balance, shares at Mar. 31, 2019			8,359,889
Beginning Balance at Dec. 31, 2019	185,543						183,365	2,178
Beginning Balance, shares at Dec. 31, 2019			7,764,564
Net income	547						547
Total other comprehensive loss, net of income taxes	(2,132)							(2,132)
Cumulative effect on adoption of credit loss standard	(453)						(453)
Exercise of common stock options, value	$ 63				63
Exercise of common stock options, shares	10,000		10,000
Issuance of restricted stock	$ 0		$ 0		0		0	0
Issuance of restricted stock, shares			45,000
Forfeiture of restricted stock, value	0		$ 0		0		0	0
Forfeiture of restricted stock, shares			(7,138)
Repurchase and retirement of common stock, value	(17)	$ (3,041)			(17)	$ (3,041)
Repurchase and retirement of common stock, shares			(371)	(76,851)
Common stock dividends	(3,095)						(3,095)
Stock-based compensation	1,841				1,841
Additional paid-in capital shortfall allocated to retained income					$ 1,154		(1,154)
Ending Balance at Mar. 31, 2020	$ 179,256						$ 179,210	$ 46
Ending Balance, shares at Mar. 31, 2020			7,735,204

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement Of Stockholders Equity [Abstract]
Common stock dividends	$ 0.40	$ 0.40

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net income	$ 547	$ 6,738
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	1,841	1,459
Net (accretion of discounts) amortization of premiums on investments in fixed-maturity securities	(20)	90
Depreciation and amortization	2,182	2,707
Deferred income tax (benefit) expense	(47)	112
Net realized investment losses	2,244	372
Net unrealized investment losses (gains)	4,805	(5,293)
Credit loss expense	415
Loss from unconsolidated joint venture	16	33
Net loss from limited partnership interests	2,935	211
Distributions received from limited partnership interests	382	1,013
Foreign currency remeasurement loss	80	1
Other non-cash items	1	48
Changes in operating assets and liabilities:
Accrued interest and dividends receivable	(308)	(664)
Income taxes	124	2,400
Premiums receivable	1,357	(221)
Prepaid reinsurance premiums	10,363	10,568
Reinsurance recoverable	14,546	18,271
Deferred policy acquisition costs	1,325	1,336
Other assets	(2,651)	(1,821)
Losses and loss adjustment expenses	(7,589)	(22,925)
Unearned premiums	(16,008)	(14,429)
Advance premiums	38,956	9,968
Assumed reinsurance balances payable	(22)	(10)
Accrued expenses and other liabilities	(71)	631
Net cash provided by operating activities	55,403	10,595
Cash flows from investing activities:
Investments in limited partnership interests	(919)	(761)
Distributions received from limited partnership interests	314
Purchase of property and equipment	(353)	(634)
Purchase of real estate investments	(2,452)	(9,133)
Purchase of fixed-maturity securities	(9,089)	(69,672)
Purchase of equity securities	(4,548)	(12,371)
Purchase of short-term and other investments		(182)
Proceeds from sales of fixed-maturity securities	4,049	2,911
Proceeds from calls, repayments and maturities of fixed-maturity securities	27,914	41,403
Proceeds from sales of equity securities	9,007	27,874
Proceeds from sales, redemptions and maturities of short-term and other investments		35,854
Net cash provided by investing activities	23,923	15,289
Cash flows from financing activities:
Cash dividends paid	(3,172)	(3,313)
Cash dividends received under share repurchase forward contract	77	77
Proceeds from revolving credit facility	14,000	8,000
Proceeds from exercise of common stock options	63
Proceeds from issuance of long-term debt	10,000
Repayment of long-term debt	(9,160)	(90,318)
Repurchases of common stock	(17)	(18)
Repurchases of common stock under share repurchase plan	(3,041)	(1,338)
Debt issuance costs	(165)	(459)
Net cash provided by (used in) financing activities	8,585	(87,369)
Effect of exchange rate changes on cash	(51)	(8)
Net increase (decrease) in cash, cash equivalents, and restricted cash	87,860	(61,493)
Cash, cash equivalents, and restricted cash at beginning of period	229,918	240,158
Cash, cash equivalents, and restricted cash at end of period	317,778	178,665
Supplemental disclosure of cash flow information:
Cash paid for income taxes	33	33
Cash paid for interest	3,349	5,111
Non-cash investing and financing activities:
Unrealized (loss) gain on investments in available-for-sale securities, net of tax	(2,132)	$ 1,994
Receivable from sales of equity securities	61
Receivable from maturities of fixed-maturity securities	219
Payable on purchases of equity securities	142
Payable on purchases of fixed-maturity securities	$ 9,616

Nature of Operations

Nature of Operations	3 Months Ended
	Mar. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Nature of Operations	Note 1 -- Nature of Operations HCI Group, Inc., together with its subsidiaries (“HCI” or the “Company”), is primarily engaged in the property and casualty insurance business through two Florida domiciled insurance companies, Homeowners Choice Property & Casualty Insurance Company, Inc. (“HCPCI”) and TypTap Insurance Company (“TypTap”). HCPCI is authorized to underwrite various homeowners’ property and casualty insurance products and allied lines business in the state of Florida. HCPCI also offers flood-endorsed and wind-only policies to Florida customers and has regulatory approval to underwrite residential property and casualty insurance in the states of Arkansas, California, Maryland, North Carolina, New Jersey, Ohio, Pennsylvania, South Carolina and Texas. However, Florida is still HCPCI’s primary market. TypTap offers standalone flood and homeowners multi-peril policies. The operations of both insurance subsidiaries are supported by HCI Group, Inc. and certain HCI subsidiaries. In particular, the Company is developing technologies to collect and analyze claims and other supplemental data to generate savings and efficiency for the operations of the insurance subsidiaries. In addition, Greenleaf Capital, LLC, the Company’s real estate subsidiary, is primarily engaged in the businesses of owning and leasing real estate and operating marina facilities and one restaurant. Risks and Uncertainties Caused by Novel Coronavirus (“COVID-19”) On March 11, 2020, the World Health Organization declared the outbreak of COVID-19 a pandemic. COVID-19 is a respiratory illness caused by a virus that can spread from person to person. To contain the spread of COVID-19, measures are being undertaken in the United States of America and elsewhere around the world. These measures include, but are not limited to, domestic and international travel restrictions, temporary closure of nonessential businesses, cessation of public activity, and work-from-home orders, which has led to significantly reduced economic activity. In Florida where the Company’s headquarters is located, a statewide stay-at-home order was issued. In response to the pandemic, the Company temporarily closed its offices in Florida and asked employees to work from home until further notice. The Company also closed temporarily its restaurant and both of its marinas. The Company quickly adjusted its technologies and infrastructure to support a remote workforce and maintain business continuity. As a provider of homeowners insurance, the Company continually prepares for disasters and catastrophic events, including events that could disrupt business continuity. On March 27, 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which is intended to provide fast and direct economic assistance for American workers and families, small businesses, and to preserve jobs in American industries. The CARES Act includes, among other things, provisions relating to payroll tax credits and deferrals, net operating loss carryback periods, alternative minimum tax credits and technical corrections to tax depreciation methods for qualified improvement property. The Company qualifies as a small business under the CARES Act but did not apply for any of the government loan programs. At present, the Company’s insurance subsidiaries do not foresee a direct material impact from the outbreak of COVID-19 in terms of increased claims and losses. However, the resulting economic uncertainty is adversely affecting the results of the Company’s investment portfolios (See Note 5 -- Investments). The Company generally holds or invests premiums collected from policyholders in the financial markets in order to earn income before claims need to be paid. Since the economic outlook started to deteriorate, the Company’s investments in limited partnerships, equity and fixed-maturity securities have decreased in value significantly. In addition, the Company’s insurance subsidiaries may experience difficulties collecting premiums from some policyholders. Policyholders with financial difficulties may decide not to renew insurance policies with the Company. Reinsurance companies with which the Company has contracted may also face liquidity issues and may not timely settle reinsurance balances that become due. Reinsurance costs could also increase as reinsurers pay COVID-19 related claims worldwide and face the possibility of increases in the cost of capital needed to fund their operations. Furthermore, due to the impact of the COVID-19 outbreak on retail business activities, rent payments due from the Company’s lessees may be delayed or not received. Some lessees, with the exception of all anchor tenants, have already sought rent concessions in order to stay in business. In the near term, the Company determined there is no impairment to its real estate investments or intangible assets as the real estate market is inherently slower moving than equity and debt security markets. For other auxiliary operations such as restaurant and marina business, the temporary closure of these operations has no material impact on the Company’s results of operations. It is too early to gauge the effectiveness of the CARES Act in assisting targeted individuals and businesses and preventing economic downturn. As of the date of issuance of these interim unaudited consolidated financial statements, the extent to which the COVID-19 pandemic may materially affect the Company's financial condition, liquidity, or results of operations in the medium and long-term future remains uncertain and unquantifiable.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 -- Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited, consolidated financial statements for HCI Group, Inc. and its majority-owned and controlled subsidiaries (collectively, the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, and the Securities and Exchange Commission (“SEC”) rules for interim financial reporting. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations. However, in the opinion of management, the accompanying consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the Company’s financial position as of March 31, 2020 and the results of operations and cash flows for the periods presented. The results of operations for the interim periods presented are not necessarily indicative of the results of operations to be expected for any subsequent interim period or for the fiscal year ending December 31, 2020. The accompanying unaudited consolidated financial statements and notes thereto should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2019 included in the Company’s Form 10-K, which was filed with the SEC on March 6, 2020. In preparing the interim unaudited consolidated financial statements, management was required to make certain judgments, assumptions, and estimates that affect the reported amounts of assets, liabilities, revenues, expenses and related disclosures at the financial reporting date and throughout the periods being reported upon. Certain of the estimates result from judgments that can be subjective and complex and consequently actual results may differ from these estimates. Material estimates that are particularly susceptible to significant change in the near term are related to the Company’s losses and loss adjustment expenses, which include amounts estimated for claims incurred but not yet reported. The Company uses various assumptions and actuarial data it believes to be reasonable under the circumstances to make these estimates. In addition, accounting policies specific to reinsurance with retrospective provisions, reinsurance recoverable, deferred income taxes, and stock-based compensation expense involve significant judgments and estimates material to the Company’s consolidated financial statements. All significant intercompany balances and transactions have been eliminated. Adoption of New Accounting Standards In June 2016, the Financial Accounting Standards Board issued Accounting Standards Update No. 2016-13 (“ASU 2016-13”), Financial Instruments - Credit Losses (Topic 326), effective January 1, 2020. This update amends guidance on the recognition and measurement of credit losses for assets held at amortized cost and available-for-sale debt securities. For assets held at amortized cost, ASU 2016-13 eliminates the probable initial recognition threshold and, instead, requires credit losses to be measured using the Current Expected Credit Loss (“CECL”) model. The CECL model requires the measurement of all expected credit losses based on historical experience, current conditions, and reasonable and supportable forecasts which incorporate forward-looking information. For available-for-sale debt securities, credit losses will continue to be measured in a manner similar to the current standard. Effective January 1, 2020, the Company used a modified retrospective method for transition to the CECL model. The Company recognized a cumulative-effect adjustment of $453 related to reinsurance recoverable to beginning retained income with a corresponding entry to an allowance for credit losses account. Any subsequent changes to the expected credit losses will be recognized in the Company’s consolidated statement of income. Allowance for Credit Losses Allowance for credit losses represents an estimation of potential losses that the Company may experience due to credit risk. The allowance for credit losses account is a contra account of a financial asset to reflect the net amount expected to be collected. Any increase or decrease in the allowance for credit losses related to investments is recognized and reflected as credit losses on investments in the Company’s consolidated statement of income. For all other financial assets, credit loss expense is included in other operating expenses. When the risk of credit loss becomes certain, the allowance for credit losses account will be written off against the financial asset. Under the CECL model, the Company measures all expected credit losses related to relevant financial assets based on historical experience, current conditions, and reasonable and supportable forecasts which incorporate forward-looking information. The Company primarily uses a discounted cash flow method and a rating-based method in estimating credit losses at a reporting date for financial assets under the scope of the CECL model. The discounted cash flow method is a valuation method used to estimate the value of a financial asset based on its future cash flows. The Company uses this method to determine the expected credit losses for available-for-sale fixed-maturity securities. In addition, the Company elects not to measure an allowance for credit losses for accrued interest receivable as any uncollectible amount is adjusted to interest income on a monthly basis. For certain financial assets related to insurance business such as reinsurance recoverable and reinsurance receivable for premium refund, the Company uses a rating-based method, which is a modified version of the probability of default method. It requires two key inputs: a) the liquidation rate and b) the amount of loss exposure. The liquidation rate, which is published annually, is the ratio of impaired insurance companies that were eventually liquidated to the group of insurance companies considered by A.M. Best in its study. The amount of loss exposure represents the future billing balance, net of any collateral, spread over the projected periods that are based on the Company’s historical claim payment pattern. The rating-based method measures credit losses by multiplying the future billings grouped by insurance rating over the projected periods by their corresponding liquidation rates by insurance rating. At present, the exposure to credit losses for certain financial assets related to non-insurance business is considered immaterial to the Company’s financial position. Limited Partnership Investments The Company has interests in limited partnerships that are not registered under the United Stated Securities Act of 1933, as amended, the securities laws of any state or the securities laws of any other jurisdictions. The partnership interests cannot be resold in the public market and any withdrawal is subject to the terms and conditions of the partnership agreement. The Company has no influence over partnership operating and financial policies. The Company uses the equity method to account for the investments with ownership interest greater than five percent. For the investments with ownership interest at five percent or less, the Company uses the net asset value method to estimate the fair value of these investments. The Company generally recognizes its share of the limited partnership’s earnings or losses on a three-month lag. Due to the lag, the Company may record an adjustment to the Company’s most recent share of net asset value when the amount can be reasonably estimated. Net investment income or loss from limited partnerships represents a net aggregate amount of operating results allocated to the Company based on the percentage of ownership interest in each limited partnership. Pursuant to U.S. GAAP, these limited partnerships which are private equity funds must measure their investments at fair value and reflect the unrealized gains and losses in the fair value of their investments on their statement of income. As a result, the carrying value of limited partnership investments at each reporting date approximates their estimated fair value. Premium Receivable Premium receivable represents the amount of premiums due from policyholders for insurance coverage. Premiums are recorded as receivable in the Company’s general ledger on the effective date of the policy. Premiums are billed to the policyholder 45-60 days in advance of the effective date. The policyholder is given a 30-day grace period after the effective date to pay the premium before the insurance coverage is cancelled. If the policyholder does not pay the premium, the Company can cancel the policy and has no obligation to provide insurance coverage. Unpaid renewal policies are cancelled at midnight on the last day of the period for which the policyholder has paid. The unearned premium liability for the cancelled policy is reversed along with the premium receivable balance. Therefore, there is no unpaid earned premium and credit loss associated with the cancelled policy. However, when the 30-day grace period falls between two reporting periods, the premium receivable balance at the end of the first reporting period may potentially be overstated for not considering the policy that is subsequently cancelled during the following reporting period. To mitigate the overstatement issue, the Company estimates the monetary impact from the subsequent policy cancellation by multiplying the historical cancellation rate to the premium receivable balance at the reporting date. The premium receivable balance, together with the unearned premium liability is then reduced by the computed amount. At March 31, 2020 and December 31, 2019, allowances for uncollectible premiums were $1,217 and $528, respectively.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2020
Accounting Changes And Error Corrections [Abstract]
Recent Accounting Pronouncements	Note 3 -- Recent Accounting Pronouncements Accounting Standards Update No. 2020-01. In January 2020, the Financial Accounting Standards Board issued Accounting Standards Update No. 2020-01 (“ASU 2020-01”) Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) Clarifying the Interactions between Topic 321, Topic 323, and Topic 815. This update, among others, clarifies the interaction of the accounting for equity securities under Topic 321 and investments under the equity method of accounting in Topic 323 when there is a change in level of ownership or degree of influence. ASU 2020-01 is effective for the Company beginning with the first quarter of 2021 and will be applied prospectively. Early adoption is permitted. This guidance will not have a material impact on the Company’s consolidated financial statements.

Cash, Cash Equivalents, and Res

Cash, Cash Equivalents, and Restricted Cash	3 Months Ended
	Mar. 31, 2020
Cash And Cash Equivalents [Abstract]
Cash, Cash Equivalents, and Restricted Cash	Note 4 -- Cash, Cash Equivalents, and Restricted Cash The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company’s consolidated balance sheets that sum to the total of the same such amounts shown in the statements of cash flows. March 31, December 31, 2020 2019 Cash and cash equivalents $ 317,078 $ 229,218 Restricted cash 700 700 Total $ 317,778 $ 229,918 Restricted cash primarily represents funds held by certain states in which the Company’s insurance subsidiaries conduct business to meet regulatory requirements.

Investments

Investments	3 Months Ended
	Mar. 31, 2020
Investments Debt And Equity Securities [Abstract]
Investments	Note 5 -- Investments a) Available-for-Sale Fixed-Maturity Securities The Company holds investments in fixed-maturity securities that are classified as available-for-sale. At March 31, 2020 and December 31, 2019, the cost or amortized cost, allowance for credit loss, gross unrealized gains and losses, and estimated fair value of the Company’s available-for-sale securities by security type were as follows: Cost or Amortized Allowance for Credit Gross Unrealized Gross Unrealized Estimated Fair Cost Loss Gain Loss Value As of March 31, 2020 U.S. Treasury and U.S. government agencies $ 16,007 $ — $ 356 $ — $ 16,363 Corporate bonds 155,240 (439 ) 1,312 (1,094 ) 155,019 State, municipalities, and political subdivisions 7,496 — 81 (1 ) 7,576 Exchange-traded debt 7,363 — 139 (716 ) 6,786 Redeemable preferred stock 118 — — (17 ) 101 Total $ 186,224 $ (439 ) $ 1,888 $ (1,828 ) $ 185,845 As of December 31, 2019 U.S. Treasury and U.S. government agencies $ 26,220 $ — $ 78 $ (3 ) $ 26,295 Corporate bonds 157,155 — 2,212 (3 ) 159,364 State, municipalities, and political subdivisions 7,763 — 149 — 7,912 Exchange-traded debt 8,698 — 462 (15 ) 9,145 Redeemable preferred stock 118 — 5 — 123 Total $ 199,954 $ — $ 2,906 $ (21 ) $ 202,839 Expected maturities will differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without penalties. The scheduled contractual maturities of fixed-maturity securities as of March 31, 2020 and December 31, 2019 are as follows: Amortized Estimated Cost Fair Value As of March 31, 2020 Due in one year or less $ 53,259 $ 53,556 Due after one year through five years 120,746 120,093 Due after five years through ten years 7,822 7,874 Due after ten years 4,397 4,322 $ 186,224 $ 185,845 Amortized Estimated Cost Fair Value As of December 31, 2019 Due in one year or less $ 63,135 $ 63,429 Due after one year through five years 125,833 127,660 Due after five years through ten years 6,896 7,350 Due after ten years 4,090 4,400 $ 199,954 $ 202,839 Sales of Available-for-Sale Fixed-Maturity Securities Proceeds received, and the gross realized gains and losses from sales of available-for-sale securities, for the three months ended March 31, 2020 and 2019 were as follows: Gross Realized Gross Realized Proceeds Gains Losses Three months ended March 31, 2020 $ 4,049 $ 77 $ (350 ) Three months ended March 31, 2019 $ 2,911 $ 34 $ (1 ) Gross Unrealized Losses for Available-for-Sale Fixed-Maturity Securities Securities with gross unrealized loss positions at March 31, 2020 and December 31, 2019, aggregated by investment category and length of time the individual securities have been in a continuous loss position, are as follows: Less Than Twelve Months Twelve Months or Longer Total Gross Estimated Gross Estimated Gross Estimated Unrealized Fair Unrealized Fair Unrealized Fair As of March 31, 2020 Loss Value Loss Value Loss Value Corporate bonds $ (1,094 ) $ 41,420 $ — $ — $ (1,094 ) $ 41,420 State, municipalities, and political subdivisions (2 ) 2,012 — — (2 ) 2,012 Exchange-traded debt (716 ) 4,238 — — (716 ) 4,238 Redeemable preferred stock (16 ) 101 — — (16 ) 101 Total $ (1,828 ) $ 47,771 $ — $ — $ (1,828 ) $ 47,771 At March 31, 2020, there were 48 securities in an unrealized loss position. Of these securities, none had been in an unrealized loss position for 12 months or longer. Less Than Twelve Months Twelve Months or Longer Total Gross Estimated Gross Estimated Gross Estimated Unrealized Fair Unrealized Fair Unrealized Fair As of December 31, 2019 Loss Value Loss Value Loss Value U.S. Treasury and U.S. government agencies $ (3 ) $ 2,292 $ — $ — $ (3 ) $ 2,292 Corporate bonds (3 ) 4,597 — — (3 ) 4,597 Exchange-traded debt (15 ) 345 — — (15 ) 345 Total $ (21 ) $ 7,234 $ — $ — $ (21 ) $ 7,234 At December 31, 2019, there were eight securities in an unrealized loss position. Of these securities, none had been in an unrealized loss position for 12 months or longer. Allowance for Credit Losses of Available-for-Sale Fixed-Maturity Securities The Company regularly reviews its individual investment securities for credit impairment. The Company considers various factors in determining whether each individual security is impaired, including- • the financial condition and near-term prospects of the issuer, including any specific events that may affect its operations or earnings; • the extent to which the market value of the security has been below its cost or amortized cost; • general market conditions and industry or sector specific factors and other qualitative factors; • nonpayment by the issuer of its contractually obligated interest and principal payments; and • the Company’s intent and ability to hold the investment for a period of time sufficient to allow for the recovery of costs. The table below summarized the activity in the allowance for credit losses of available-for-sale securities for the three months ended on March 31, 2020: Three Months Ended March 31, 2020 Beginning allowance for credit losses $ — Credit loss expense 439 Ending allowance for credit losses $ 439 b) Equity Securities The Company holds investments in equity securities measured at fair values which are readily determinable. At March 31, 2020 and December 31, 2019, the cost, gross unrealized gains and losses, and estimated fair value of the Company’s equity securities were as follows: Gross Unrealized Gross Unrealized Estimated Fair Cost Gain Loss Value March 31, 2020 $ 25,514 $ 1,369 $ (2,752 ) $ 24,131 December 31, 2019 $ 31,863 $ 3,652 $ (230 ) $ 35,285 The table below presents the portion of unrealized gains and losses in the Company’s consolidated statement of income for the periods related to equity securities still held. Three Months Ended March 31, 2020 2019 Net (losses) gains recognized $ (6,776 ) $ 4,837 Exclude: Net realized losses recognized for securities sold (1,971 ) (456 ) Net unrealized (losses) gains recognized $ (4,805 ) $ 5,293 Sales of Equity Securities Proceeds received, and the gross realized gains and losses from sales of equity securities, for the three months ended March 31, 2020 and 2019 were as follows: Gross Realized Gross Realized Proceeds Gains Losses Three months ended March 31, 2020 $ 9,007 $ 785 $ (2,756 ) Three months ended March 31, 2019 $ 27,874 $ 2,074 $ (2,530 ) c) Limited Partnership Investments The Company has interests in limited partnerships that are not registered or readily tradeable on a securities exchange. These partnerships are private equity funds managed by general partners who make decisions with regard to financial policies and operations. As such, the Company is not the primary beneficiary and does not consolidate these partnerships. The following table provides information related to the Company’s investments in limited partnerships: March 31, 2020 December 31, 2019 Carrying Unfunded Carrying Unfunded Investment Strategy Value Balance (%)(a) Value Balance (%)(a) Primarily in senior secured loans and, to a limited extent, in other debt and equity securities of private U.S. lower-middle-market companies. (b)(c)(e) $ 8,865 $ 2,085 15.37 $ 9,659 $ 2,085 15.37 Value creation through active distressed debt investing primarily in bank loans, public and private corporate bonds, asset-backed securities, and equity securities received in connection with debt restructuring. (b)(d)(e) 5,569 — 1.76 5,985 — 1.76 High returns and long-term capital appreciation through investments in the power, utility and energy industries, and in the infrastructure sector. (b)(f)(g) 7,132 1,401 0.18 9,188 1,391 0.18 Value-oriented investments in less liquid and mispriced senior and junior debts of private equity-backed companies. (b)(h)(i) 2,492 2,093 0.47 1,602 3,106 0.47 Value-oriented investments in mature real estate private equity funds and portfolio globally. (b)(j) 1,576 8,632 2.24 1,912 8,548 2.24 Total $ 25,634 $ 14,211 $ 28,346 $ 15,130 (a) Represents the Company’s percentage investment in the fund at each balance sheet date. (b) Except under certain circumstances, withdrawals from the funds or any assignments are not permitted. Distributions, except income from late admission of a new limited partner, will be received when underlying investments of the funds are liquidated. ( c ) Expected to have a ten-year term. Although the capital commitment period has expired, there are still follow-on investments and pending commitments that require additional fundings. (d) Expected to have a three-year term from June 30, 2018. Although the capital commitment period has ended, the general partner could still request an additional funding of approximately $843 under certain circumstances. (e) At the fund manager’s discretion, the term of the fund may be extended for up to two additional one-year periods. ( f ) Expected to have a ten-year term and the capital commitment is expected to expire on June 30, 2020. (g) With the consent of a supermajority of partners, the term of the fund may be extended for up to three additional one-year periods. (h) Expected to have a six-year term from the commencement date, which can be extended for up to two additional one-year periods with the consent of either the advisory committee or a majority of limited partners. ( i ) The capital commitment was extended and is now expected to expire on December 1, 2020. (j) Expected to have an eight-year term from November 27, 2019. The following is the summary of aggregated unaudited financial information of limited partnerships included in the investment strategy table above, which in certain cases is presented on a three-month lag due to the unavailability of information at the Company’s respective balance sheet dates. The financial statements of these limited partnerships are audited annually. Three Months Ended March 31, 2020 2019 Operating results: Total income $ (450,892 ) $ (90,513 ) Total expenses (54,812 ) (49,033 ) Net loss $ (505,704 ) $ (139,546 ) March 31, December 31, 2020 2019 Balance Sheet: Total assets $ 6,320,606 $ 6,850,913 Total liabilities $ 536,760 $ 549,562 For the three months ended March 31, 2020 and 2019, the Company recognized net investment loss of $2,935 and $211, respectively. Included in the net investment loss for the three months ended March 31, 2020 was $2,968 of an estimated unfavorable change in net asset value due to the impact of COVID-19 to the world economy. During the three months ended March 31, 2020 and 2019, the Company received total cash distributions of $696 and $1,013, respectively, including returns on investment of $382 and $1,013, respectively. At March 31, 2020 and December 31, 2019, the Company’s cumulative contributed capital to the partnerships at each respective balance sheet date totaled $30,447 and $29,528, respectively, and the Company’s maximum exposure to loss aggregated $25,634 and $28,346, respectively. d) Investment in Unconsolidated Joint Venture Melbourne FMA, LLC, a wholly owned subsidiary, currently has an equity investment in FMKT Mel JV, a Florida limited liability company treated as a joint venture under U.S. GAAP. At March 31, 2020 and December 31, 2019, the Company’s maximum exposure to loss relating to the variable interest entity was $746 and $762, respectively, representing the carrying value of the investment. There were no cash distributions during the three months ended March 31, 2020 and 2019. At March 31, 2020 and December 31, 2019, there was no undistributed income from this equity method investment. The following tables provide FMJV’s summarized unaudited financial results and the unaudited financial positions: Three Months Ended March 31, 2020 2019 Operating results: Total revenues and gain $ — $ 2 Total expenses (19 ) (38 ) Net loss $ (19 ) $ (36 ) The Company’s share of net loss* $ (16 ) $ (33 ) * Included in net investment income in the Company’s consolidated statements of income. March 31, December 31, 2020 2019 Balance Sheet: Property and equipment, net $ 732 $ 741 Cash 96 102 Other 4 4 Total assets $ 832 $ 847 Other liabilities $ 4 $ — Members’ capital 828 847 Total liabilities and members’ capital $ 832 $ 847 Investment in unconsolidated joint venture, at equity** $ 746 $ 762 * * Includes the 90% share of FMKT Mel JV’s operating results. e) Real Estate Investments Real estate investments consist of the following as of March 31, 2020 and December 31, 2019. March 31, December 31, 2020 2019 Land $ 39,511 $ 39,511 Land improvements 11,917 11,907 Buildings 24,149 24,086 Tenant and leasehold improvements 1,486 1,487 Other 5,878 3,489 Total, at cost 82,941 80,480 Less: accumulated depreciation and amortization (7,171 ) (6,717 ) Real estate investments $ 75,770 $ 73,763 Depreciation and amortization expense related to real estate investments was $455 and $332 for the three months ended March 31, 2020 and 2019, respectively. During the first quarter of 2020, the Company incurred additional construction costs of $2,338 related to an ongoing redevelopment project in Clearwater, Florida. f) Net Investment (Loss) Income Net investment (loss) income, by source, is summarized as follows: Three Months Ended March 31, 2020 2019 Available-for-sale fixed-maturity securities $ 1,515 $ 1,535 Equity securities 335 381 Investment expense (118 ) (129 ) Limited partnership investments (2,935 ) (211 ) Real estate investments 81 306 Loss from unconsolidated joint venture (16 ) (33 ) Cash and cash equivalents 939 1,076 Short-term investments 7 353 Net investment (loss) income $ (192 ) $ 3,278

Comprehensive Income (Loss)

Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Comprehensive Income (Loss)	Note 6 -- Comprehensive Income (Loss) Comprehensive income (loss) includes net income and other comprehensive income or loss, which for the Company includes changes in unrealized gains or losses of investments carried at fair value and changes in the allowance for credit losses related to these investments. Reclassification adjustments for realized (gains) losses are reflected in net realized investment gains (losses) on the consolidated statements of income. The components of other comprehensive income or loss and the related tax effects allocated to each component were as follows: Three Months Ended Three Months Ended March 31, 2020 March 31, 2019 Income Tax Income Tax Before Expense Net of Before Expense Net of Tax (Benefit) Tax Tax (Benefit) Tax Unrealized (losses) gains arising during the period $ (3,471 ) $ (851 ) $ (2,620 ) $ 2,704 $ 685 $ 2,019 Change in allowance for credit losses 439 107 332 — — — Call and repayment gains charged to investment income (66 ) (16 ) (50 ) — — — Reclassification adjustment for realized losses (gains) 273 67 206 (33 ) (8 ) (25 ) Total other comprehensive (losses) gains $ (2,825 ) $ (693 ) $ (2,132 ) $ 2,671 $ 677 $ 1,994

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 7 -- Fair Value Measurements The Company records and discloses certain financial assets at their estimated fair value. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels as follows: Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 - Other inputs that are observable for the asset, either directly or indirectly such as quoted prices for identical assets that are not observable throughout the full term of the asset. Level 3 - Inputs that are unobservable. Valuation Methodology Cash and cash equivalents Cash and cash equivalents primarily consist of money-market funds and certificates of deposit maturing within 90 days. Their carrying value approximates fair value due to the short maturity and high liquidity of these funds. Short-term investments Short-term investments consist of certificates of deposit with maturities of 91 to 365 days. Due to their short maturity, the carrying value approximates fair value. Fixed-maturity and equity securities Estimated fair values of the Company’s fixed-maturity and equity securities are determined in accordance with U.S. GAAP, using valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. Fair values are generally measured using quoted prices in active markets for identical securities or other inputs that are observable either directly or indirectly, such as quoted prices for similar securities. In those instances where observable inputs are not available, fair values are measured using unobservable inputs. Unobservable inputs reflect the Company’s own assumptions about the assumptions that market participants would use in pricing the security and are developed based on the best information available in the circumstances. Fair value estimates derived from unobservable inputs are significantly affected by the assumptions used, including the discount rates and the estimated amounts and timing of future cash flows. The derived fair value estimates cannot be substantiated by comparison to independent markets and are not necessarily indicative of the amounts that would be realized in a current market exchange. The estimated fair values for securities that do not trade on a daily basis are determined by management, utilizing prices obtained from an independent pricing service and information provided by brokers, which are level 2 inputs. Management reviews the assumptions and methods utilized by the pricing service and then compares the relevant data and pricing to broker-provided data. The Company gains assurance of the overall reasonableness and consistent application of the assumptions and methodologies and compliance with accounting standards for fair value determination through ongoing monitoring of the reported fair values. Revolving Credit Facility The Company’s revolving credit facility is a variable-rate loan. The interest rate is periodically adjusted based on the London Interbank Offered Rate plus a spread. As a result, its carrying value approximates fair value. Long-term debt The following table summarizes components of the Company’s long-term debt and methods used in estimating their fair values: Maturity Date Valuation Methodology 4.25% Convertible senior notes 2037 Quoted price 3.90% Promissory note 2032 Discounted cash flow method/Level 3 inputs 4% Promissory note 2031 Discounted cash flow method/Level 3 inputs 3.75% Callable promissory note 2036 Discounted cash flow method/Level 3 inputs 4.55% Promissory note 2036 Discounted cash flow method/Level 3 inputs Assets Measured at Estimated Fair Value on a Recurring Basis The following table presents information about the Company’s financial assets measured at estimated fair value on a recurring basis. The table indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value as of March 31, 2020 and December 31, 2019: Fair Value Measurements Using (Level 1) (Level 2) (Level 3) Total As of March 31, 2020 Financial Assets: Cash and cash equivalents $ 317,078 $ — $ — $ 317,078 Restricted cash $ 700 $ — $ — $ 700 Short-term investments $ 464 $ — $ — $ 464 Fixed-maturity securities: U.S. Treasury and U.S. government agencies $ 14,820 $ 1,543 $ — $ 16,363 Corporate bonds 155,019 — — 155,019 State, municipalities, and political subdivisions — 7,576 — 7,576 Exchange-traded debt 6,786 — — 6,786 Redeemable preferred stock 101 — — 101 Total available-for-sale securities $ 176,726 $ 9,119 $ — $ 185,845 Equity securities $ 24,131 $ — $ — $ 24,131 Fair Value Measurements Using (Level 1) (Level 2) (Level 3) Total As of December 31, 2019 Financial Assets: Cash and cash equivalents $ 229,218 $ — $ — $ 229,218 Restricted cash $ 700 $ — $ — $ 700 Short-term investments $ 491 $ — $ — $ 491 Fixed-maturity securities: U.S. Treasury and U.S. government agencies $ 25,294 $ 1,001 $ — $ 26,295 Corporate bonds 159,364 — — 159,364 State, municipalities, and political subdivisions — 7,912 — 7,912 Exchange-traded debt 9,145 — — 9,145 Redeemable preferred stock 123 — — 123 Total available-for-sale securities $ 193,926 $ 8,913 $ — $ 202,839 Equity securities $ 35,285 $ — $ — $ 35,285 Assets and Liabilities Carried at Other Than Estimated Fair Value The following tables present fair value information for assets and liabilities that are carried on the balance sheet at amounts other than fair value as of March 31, 2020 and December 31, 2019: Carrying Fair Value Measurements Using Estimated Value (Level 1) (Level 2) (Level 3) Fair Value As of March 31, 2020 Financial Liabilities: Revolving credit facility $ 23,750 $ — $ 23,750 $ — $ 23,750 Long-term debt: 4.25% Convertible senior notes $ 135,112 $ — $ 130,813 $ — $ 130,813 3.90% Promissory note 9,829 — — 10,422 10,422 4% Promissory note 7,110 — — 7,563 7,563 3.75% Callable promissory note 7,754 — — 8,191 8,191 4.55% Promissory note 5,555 — — 6,035 6,035 Total long-term debt $ 165,360 $ — $ 130,813 $ 32,211 $ 163,024 Carrying Fair Value Measurements Using Estimated Value (Level 1) (Level 2) (Level 3) Fair Value As of December 31, 2019 Financial Liabilities: Revolving credit facility $ 9,750 $ — $ 9,750 $ — $ 9,750 Long-term debt: 4.25% Convertible senior notes $ 134,075 $ — $ 147,375 $ — $ 147,375 3.95% Promissory note 8,875 — — 8,887 8,887 4% Promissory note 7,237 — — 7,409 7,409 3.75% Callable promissory note 7,837 — — 7,861 7,861 4.55% Promissory note 5,611 — — 5,802 5,802 Total long-term debt $ 163,635 $ — $ 147,375 $ 29,959 $ 177,334

Other Assets

Other Assets	3 Months Ended
	Mar. 31, 2020
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Other Assets	Note 8 -- Other Assets The following table summarizes the Company’s other assets. March 31, December 31, 2020 2019 Benefits receivable related to retrospective reinsurance contract $ 12,000 $ 9,480 Prepaid expenses 2,094 2,107 Deposits 1,493 1,678 Lease acquisition costs, net 541 566 Other 3,841 3,249 Total other assets $ 19,969 $ 17,080

Revolving Credit Facility

Revolving Credit Facility	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Revolving Credit Facility	Note 9 -- Revolving Credit Facility During the first quarter of 2020, the Company borrowed an additional amount of $14,000 for general business purposes. For the three months ended March 31, 2020 and 2019, interest expense was $153 and $69, respectively, including $39 of amortization of issuance costs in each of the periods. At March 31, 2020, the Company was in compliance with all required covenants, and there were $23,750 of borrowings outstanding.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Long-Term Debt	Note 10 -- Long-Term Debt The following table summarizes the Company’s long-term debt. March 31, December 31, 2020 2019 4.25% Convertible senior notes, due March 1, 2037 $ 143,750 $ 143,750 3.95% Promissory note, due through February 17, 2020 — 8,881 4% Promissory note, due through February 1, 2031 7,214 7,345 3.75% Callable promissory note, due through September 1, 2036 7,869 7,955 4.55% Promissory note, due through August 1, 2036 5,646 5,704 3.90% Promissory note, due through April 1, 2032 10,000 — Finance lease liabilities, due through August 15, 2023 56 60 Total principal amount 174,535 173,695 Less: unamortized discount and issuance costs (9,119 ) (10,000 ) Total long-term debt $ 165,416 $ 163,695 The following table summarizes future maturities of long-term debt as of March 31, 2020, which takes into consideration the assumption that the 4.25% Convertible Senior Notes are repurchased at the earliest call date. Due in 12 months following March 31, 2020 $ 1,452 2021 145,289 2022 1,598 2023 1,654 2024 1,715 Thereafter 22,827 Total $ 174,535 Information with respect to interest expense related to long-term debt is as follows: Three Months Ended March 31, 2020 2019 Interest Expense: Contractual interest $ 1,806 $ 2,557 Non-cash expense (a) 1,052 1,790 Capitalized interest (b) (41 ) (79 ) $ 2,817 $ 4,268 (a) Includes amortization of debt discount and issuance costs. (b) Interest was capitalized for a construction project. Convertible Senior Notes 4.25% Convertible Notes . The Company’s recent cash dividends on common stock have exceeded $0.35 per share, resulting in adjustments to the conversion rate of the 4.25% Convertible Notes. Accordingly, as of March 31, 2020, the conversion rate of the Company’s 4.25% Convertible Notes was 16.3843 shares of common stock for each $1 in principal amount, which was the equivalent of approximately $61.03 per share. As of March 31, 2020, the remaining amortization period of the debt discount for 4.25% Convertible Notes was expected to be 1.9 years. 3.95% Promissory Note In February 2020, the Company repaid its 3.95% Promissory Note. 3.90% Promissory Note On February 28, 2020, the Company entered into a loan agreement with American Equity Investment Life Insurance Company for gross proceeds of $10,000. The agreement bears interest at a fixed rate of 3.90% and is secured by the Company’s shopping center property in Melbourne, Florida and the assignment of associated lease agreements. Approximately $60 of principal and interest is payable in 143 monthly installments beginning April 1, 2020 plus a final balloon payment of $5,007 including principal and unpaid interest payable on March 1, 2032. The promissory note may be repaid in full at any time as long as the Company provides at least 60 days’ written notice and pays a prepayment premium and processing fee. The proceeds were primarily used to repay the 3.95% Promissory Note due in February 2020. On March 19, 2020, the loan agreement was modified to revise the due dates for the first and last installments to May 1, 2020 and April 1, 2032, respectively, while other terms and conditions remain intact.

Reinsurance

Reinsurance	3 Months Ended
	Mar. 31, 2020
Insurance [Abstract]
Reinsurance	Note 11 -- Reinsurance The Company cedes a portion of its homeowners’ insurance exposure to other entities under catastrophe excess of loss reinsurance contracts and one quota share reinsurance agreement. Ceded premiums under most catastrophe excess of loss reinsurance contracts are subject to revision resulting from subsequent adjustments in total insured value. Under the terms of the quota share reinsurance agreement, the Company is entitled to a 30% ceding commission on ceded premiums written. The reinsurance premiums under one multi-year flood catastrophe excess of loss reinsurance contract are generally determined on a quarterly basis based on the premiums associated with the applicable flood total insured value in force on the last day of the preceding quarter. The Company remains liable for claims payments in the event that any reinsurer is unable to meet its obligations under the reinsurance agreements. Failure of reinsurers to honor their obligations could result in losses to the Company. The Company evaluates the financial condition of its reinsurers and monitors concentrations of credit risk arising from similar geographic regions, activities or economic characteristics of the reinsurers to minimize its exposure to significant losses from reinsurer insolvencies. The Company contracts with a number of reinsurers to secure its annual reinsurance coverage, which generally becomes effective June 1st each year. The Company purchases reinsurance each year taking into consideration probable maximum losses and reinsurance market conditions. The impact of the reinsurance contracts on premiums written and earned is as follows: Three Months Ended March 31, 2020 2019 Premiums Written: Direct $ 76,572 $ 67,612 Assumed (54 ) (2 ) Gross written 76,518 67,610 Ceded (30,719 ) (31,413 ) Net premiums written $ 45,799 $ 36,197 Premiums Earned: Direct $ 90,767 $ 82,599 Assumed 1,598 (2 ) Gross earned 92,365 82,597 Ceded (30,719 ) (31,413 ) Net premiums earned $ 61,646 $ 51,184 During the three months ended March 31, 2020 and 2019, ceded losses of $338 and $0, respectively, were recognized as a reduction in losses and loss adjustment expenses. At March 31, 2020 and December 31, 2019, there were 31 reinsurers participating in the Company’s reinsurance program. Total gross amounts recoverable and receivable from reinsurers at March 31, 2020 and December 31, 2019 were $118,132 and $132,678, respectively. Approximately 61.1% of the reinsurance recoverable balance at March 31, 2020 was receivable from the Florida Hurricane Catastrophe Fund, a state trust fund. Based on all available information considered in the rating-based method described in Note 2 -- “Summary of Significant Accounting Policies,” the Company recognized a decrease in credit loss expense of $24 for the three months ended March 31, 2020 as opposed to $0 for the same period in 2019. Allowances for credit losses related to the reinsurance recoverable balance were $429 and $0 at March 31, 2020 and December 31, 2019. One of the reinsurance contracts includes retrospective provisions that adjust premiums in the event losses are minimal or zero. For the three months ended March 31, 2020 and 2019, the Company recognized a reduction in premiums ceded of $2,520 and a net reduction in ceded premiums of $512, respectively, related to these adjustments in the consolidated statement of income. Amounts receivable pursuant to retrospective provisions are reflected in other assets. At March 31, 2020 and December 31, 2019, other assets included $12,000 and $9,480 related to these adjustments, respectively. Management believes the credit risk associated with the collectability of these accrued benefits is minimal as the amount receivable is concentrated with one reinsurer and the Company monitors the creditworthiness of this reinsurer based on available information about the reinsurer’s financial condition.

Losses and Loss Adjustment Expe

Losses and Loss Adjustment Expenses	3 Months Ended
	Mar. 31, 2020
Insurance [Abstract]
Losses and Loss Adjustment Expenses	Note 12 -- Losses and Loss Adjustment Expenses The liability for losses and loss adjustment expenses is determined on an individual case basis for all claims reported. The liability also includes amounts for unallocated expenses, anticipated future claim development and losses incurred but not reported. The Company primarily writes insurance in the state of Florida, which could be exposed to hurricanes or other natural catastrophes. The occurrence of a major catastrophe could have a significant effect on the Company’s quarterly results and cause a temporary disruption of the normal operations of the Company. However, the Company is unable to predict the frequency or severity of any such events that may occur in the near term or thereafter. Activity in the liability for unpaid losses and loss adjustment expenses is summarized as follows: Three Months Ended March 31, 2020 2019 Net balance, beginning of period* $ 98,174 $ 94,826 Incurred, net of reinsurance, related to: Current period 25,803 24,321 Prior period 2,275 2,675 Total incurred, net of reinsurance 28,078 26,996 Paid, net of reinsurance, related to: Current period (4,484 ) (3,930 ) Prior period (15,892 ) (19,439 ) Total paid, net of reinsurance (20,376 ) (23,369 ) Net balance, end of period 105,876 98,453 Add: reinsurance recoverable before allowance for credit losses 101,232 86,208 Gross balance, end of period $ 207,108 $ 184,661 *Net balance represents beginning-of-period liability for unpaid losses and loss adjustment expenses less beginning-of-period reinsurance recoverable for unpaid losses and loss adjustment expenses. The establishment of loss reserves is an inherently uncertain process and changes in loss reserve estimates are expected as these estimates are subject to the outcome of future events. Changes in estimates, or differences between estimates and amounts ultimately paid, are reflected in the operating results of the period during which such estimates are adjusted. During the three months ended March 31, 2020, the Company recognized losses related to prior periods of $2,275 for unfavorable development resulting from litigation for prior years as well as a hail related weather event in 2019.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segment Information	Note 13 -- Segment Information The Company identifies its operating divisions based on organizational structure and revenue source. Currently, the Company has three reportable segments: insurance operations, real estate operations, and corporate and other. Due to their economic characteristics, the Company’s property and casualty insurance division and reinsurance division are grouped together into one reportable segment under insurance operations. The real estate operations segment includes companies engaged in operating commercial properties the Company owns for investment purposes or for use in its own operations. The corporate and other segment represents the activities of the holding companies, the information technology division, and other companies that do not meet the quantitative and qualitative thresholds for a reportable segment. The determination of segments may change over time due to changes in operational emphasis, revenues, and results of operations. The Company’s chief executive officer, who serves as the Company’s chief operating decision maker, evaluates each division’s financial and operating performance based on revenue and operating income. For the three months ended March 31, 2020 and 2019, revenues from the Company’s insurance operations before intracompany elimination represented 94.2% and 94.5%, respectively, of total revenues of all operating segments. At March 31, 2020 and December 31, 2019, insurance operations’ total assets represented 85.4% and 85.5%, respectively, of the combined assets of all operating segments. The following tables present segment information reconciled to the Company’s consolidated statements of income. Intersegment transactions are not eliminated from segment results. However, intracompany transactions are eliminated in segment results below. Insurance Real Corporate/ Reclassification/ For Three Months Ended March 31, 2020 Operations Estate(a) Other(b) Elimination Consolidated Revenue: Net premiums earned $ 61,646 $ — $ — $ — $ 61,646 Net investment income (loss) 2,333 1 (2,370 ) (156 ) (192 ) Net realized investment losses (1,822 ) — (422 ) — (2,244 ) Net unrealized investment losses (4,097 ) — (708 ) — (4,805 ) Credit losses on investments (439 ) — — — (439 ) Policy fee income 829 — — — 829 Other 275 2,559 1,372 (3,621 ) 585 Total revenue 58,725 2,560 (2,128 ) (3,777 ) 55,380 Expenses: Losses and loss adjustment expenses 28,078 — — — 28,078 Amortization of deferred policy acquisition costs 10,857 — — — 10,857 Interest expense — 473 2,717 (220 ) 2,970 Depreciation and amortization 31 656 402 (612 ) 477 Other 8,075 1,251 5,960 (2,945 ) 12,341 Total expenses 47,041 2,380 9,079 (3,777 ) 54,723 Income (loss) before income taxes $ 11,684 $ 180 $ (11,207 ) $ — $ 657 Total revenue (investment loss) from non-affiliates(c) $ 58,725 $ 2,094 $ (2,626 ) (a) Other revenue under real estate primarily consisted of rental income from investment properties. (b) Other revenue under corporate and other primarily consisted of revenue from restaurant and marina businesses. (c) Represents amounts before reclassification of certain revenue and expenses to conform with an insurance company’s presentation Insurance Real Corporate/ Reclassification/ For Three Months Ended March 31, 2019 Operations Estate(a) Other(b) Elimination Consolidated Revenue: Net premiums earned $ 51,184 $ — $ — $ — $ 51,184 Net investment income 2,628 — 507 143 3,278 Net realized investment gains 198 — (570 ) — (372 ) Net unrealized investment (losses) gains 4,310 — 983 — 5,293 Policy fee income 795 — — — 795 Other 176 2,312 1,551 (3,583 ) 456 Total revenue 59,291 2,312 2,471 (3,440 ) 60,634 Expenses: Losses and loss adjustment expenses 26,996 — — — 26,996 Amortization of deferred policy acquisition costs 8,656 — — — 8,656 Interest expense 1 383 4,083 (130 ) 4,337 Depreciation and amortization 27 583 268 (484 ) 394 Other 7,090 1,108 5,596 (2,826 ) 10,968 Total expenses 42,770 2,074 9,947 (3,440 ) 51,351 Income (loss) before income taxes $ 16,521 $ 238 $ (7,476 ) $ — $ 9,283 Total revenue from non-affiliates(c) $ 59,291 $ 1,903 $ 2,060 (a) Other revenue under real estate primarily consisted of rental income from investment properties. (b) Other revenue under corporate and other primarily consisted of revenue from restaurant and marina businesses. (c) Represents amounts before reclassification of certain revenue and expenses to conform with an insurance company’s presentation The following table presents segment assets reconciled to the Company’s total assets in the consolidated balance sheets. March 31, December 31, 2020 2019 Segment: Insurance Operations $ 682,466 $ 663,280 Real Estate Operations 96,511 93,727 Corporate and Other 85,179 60,662 Consolidation and Elimination (27,817 ) (15,060 ) Total assets $ 836,339 $ 802,609

Leases

Leases	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	Note 14 -- Leases The table below summarizes the Company’s right-of-use (“ROU”) assets and corresponding liabilities for operating and finance leases: March 31, December 31, 2020 2019 Operating leases: ROU Assets $ 410 $ 484 Liabilities $ 425 $ 513 Finance leases: ROU Assets $ 79 $ 79 Liabilities $ 56 $ 60 The following table summarizes the Company’s operating and finance leases in which the Company is a lessee: Renewal Other Terms and Class of Assets Initial Term Option Conditions Operating lease: Office equipment 1 to 63 months Yes (a), (b) Storage units 2 years Yes (b) Office space 3 to 10 years Yes (b), (c) Finance lease: Office equipment 3 to 5 years Not applicable (d) (a) At the end of the lease term, the Company can purchase the equipment at fair market value. (b) There are no variable lease payments. (c) Rent escalation provisions exist. (d) There is a bargain purchase option. As of March 31, 2020, maturities of lease liabilities were as follows: Leases Operating Finance Due in 12 months following March 31, 2020 $ 318 $ 19 2021 126 19 2022 12 15 2023 — 7 Total lease payments 456 60 Less: interest and foreign taxes 31 4 Total lease obligations $ 425 $ 56 The following table provides quantitative information with regard to the Company’s operating and finance leases. Three Months Ended March 31, 2020 2019 Lease costs: Finance lease costs: Amortization – ROU assets* $ 4 $ 3 Interest expense 1 1 Operating lease costs* 78 81 Short-term lease costs* 49 45 Total lease costs $ 132 $ 130 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows – finance leases $ 1 $ 1 Operating cash flows – operating leases $ 80 $ 78 Financing cash flows – finance leases $ 4 $ 2 March 31, 2020 Weighted-average remaining lease term: Finance leases (in years) 3.2 Operating leases (in years) 1.5 Weighted-average discount rate: Finance leases 3.7% Operating leases 4.0% * Included in other operating expenses of the consolidated statement of income. The following table summarizes the Company’s operating leases in which the Company is a lessor: Renewal Other Terms and Class of Assets Initial Term Option Conditions Operating lease: Office space 1 to 3 years Yes (e) Retail space 3 to 20 years Yes (e) Boat docks/wet slips 1 to 12 months Yes (e) (e) There are no purchase options.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 15 -- Income Taxes During the three months ended March 31, 2020 and 2019, the Company recorded approximately $110 and $2,545 respectively, of income taxes, which resulted in effective tax rates of 16.7% and 27.4%, respectively. The decrease in the effective tax rate in 2020 as compared with the corresponding period in the prior year was primarily attributable to the recognition of windfall tax benefits related to share-based awards in the first quarter of 2020. The Company’s estimated annual effective tax rate differs from the statutory federal tax rate due to state and foreign income taxes as well as certain nondeductible and tax-exempt items. In addition, the Company determined there were no significant tax implications as a result of the CARES Act.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Note 16 -- Earnings Per Share U.S. GAAP requires the Company to use the two-class method in computing basic earnings per share since holders of the Company’s restricted stock have the right to share in dividends, if declared, equally with common stockholders. These participating securities affect the computation of both basic and diluted earnings per share during periods of net income or loss. A summary of the numerator and denominator of the basic and diluted earnings per common share is presented below. Three Months Ended Three Months Ended March 31, 2020 March 31, 2019 Income Shares Per Share Income Shares Per Share (Numerator) (Denominator) Amount (Numerator) (Denominator) Amount Net income $ 547 $ 6,738 Less: Income attributable to participating securities (13 ) (408 ) Basic Earnings Per Share: Income allocated to common stockholders 534 7,369 $ 0.07 6,330 7,736 $ 0.82 Effect of Dilutive Securities: * Stock options — 9 — 19 Diluted Earnings Per Share: Income available to common stockholders and assumed conversions $ 534 7,378 $ 0.07 $ 6,330 7,755 $ 0.82 * For the three months ended March 31, 2020 and 2019, convertible senior notes were excluded due to anti-dilutive effect.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Stockholders' Equity	Note 17 -- Stockholders’ Equity Common Stock On December 19, 2019, the Board of Directors decided to extend the term of the 2019 stock repurchase plan to March 15, 2020. On March 13, 2020, the Board approved a new stock repurchase plan for 2020 to repurchase up to $20,000 of the Company’s common shares before commissions and fees. During the three months ended March 31, 2020, the Company repurchased and retired a total of 76,851 shares at a weighted average price per share of $39.55 under these authorized repurchase plans. The total cost of shares repurchased, inclusive of fees and commissions, during the three months ended March 31, 2020 was $3,041 or $39.58 per share. During the three months ended March 31, 2019, the Company repurchased and retired a total of 31,789 shares at a weighted average price per share of $42.06 under this authorized repurchase plan. The total cost of shares repurchased, inclusive of fees and commissions, during the three months ended March 31, 2019 was $1,338, or $42.09 per share. On January 21, 2020, the Company’s Board of Directors declared a quarterly dividend of $0.40 per common share. The dividends were paid on March 20, 2020 to stockholders of record on February 21, 2020.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	Note 18 -- Stock-Based Compensation Incentive Plans The Company currently has outstanding stock-based awards granted under the 2007 Stock Option and Incentive Plan and the 2012 Omnibus Incentive Plan. Only the 2012 Plan is active and available for future grants. At March 31, 2020, there were 1,613,942 shares available for grant. Stock Options Stock options granted and outstanding under the incentive plans vest over periods ranging from immediately vested to five years and are exercisable over the contractual term of ten years. A summary of the stock option activity for the three months ended March 31, 2020 and 2019 is as follows (option amounts not in thousands): Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Price Term Value Outstanding at January 1, 2020 340,000 $ 43.21 7.9 years $ 1,657 Granted 110,000 $ 48.00 Exercised (10,000 ) $ 6.30 Outstanding at March 31, 2020 440,000 $ 45.25 8.3 years $ — Exercisable at March 31, 2020 165,000 $ 42.17 7.5 years $ — Outstanding at January 1, 2019 240,000 $ 37.19 8.8 years $ 3,278 Granted 110,000 $ 53.00 Outstanding at March 31, 2019 350,000 $ 42.16 8.5 years $ 1,329 Exercisable at March 31, 2019 102,500 $ 33.42 7.0 years $ 954 The following table summarizes information about options exercised for the three months ended March 31, 2020 and 2019 (option amounts not in thousands): Three Months Ended March 31, 2020 2019 Options exercised 10,000 — Total intrinsic value of exercised options $ 288 $ — Tax benefits realized $ 71 $ — For the three months ended March 31, 2020 and 2019, the Company recognized $283 and $205, respectively, of compensation expense which was included in general and administrative personnel expenses. Deferred tax benefits related to stock options were $19 for the three months ended March 31, 2020 and 2019. At March 31, 2020 and December 31, 2019, there was $2,785 and $1,835, respectively, of unrecognized compensation expense related to nonvested stock options. The Company expects to recognize the remaining compensation expense over a weighted-average period of 2.9 years. The following table provides assumptions used in the Black-Scholes option-pricing model to estimate the fair value of the stock options granted during the three months ended March 31, 2020 and 2019: 2020 2019 Expected dividend yield 3.48 % 3.34 % Expected volatility 38.68 % 40.17 % Risk-free interest rate 1.63 % 2.53 % Expected life (in years) 5 5 Restricted Stock Awards From time to time, the Company has granted and may grant restricted stock awards to its executive officers, other employees and nonemployee directors in connection with their service to the Company. The terms of the Company’s outstanding restricted stock grants may include service, performance and market-based conditions. The determination of fair value with respect to the awards containing only service-based conditions is based on the market value of the Company’s common stock on the grant date. Information with respect to the activity of unvested restricted stock awards during the three months ended March 31, 2020 and 2019 is as follows: Number of Weighted Restricted Average Stock Grant Date Awards Fair Value Nonvested at January 1, 2020 396,760 $ 41.71 Granted 45,000 $ 44.97 Vested (31,250 ) $ 40.97 Forfeited (7,138 ) $ 42.60 Nonvested at March 31, 2020 403,372 $ 42.12 Nonvested at January 1, 2019 632,296 $ 33.33 Granted 40,000 $ 47.94 Vested (21,250 ) $ 37.69 Forfeited (4,681 ) $ 42.79 Nonvested at March 31, 2019 646,365 $ 34.03 The Company recognized compensation expense related to restricted stock, which is included in general and administrative personnel expenses, of $1,558 and $1,254 for the three months ended March 31, 2020 and 2019, respectively. At March 31, 2020 and December 31, 2019, there was approximately $12,822 and $12,661, respectively, of total unrecognized compensation expense related to nonvested restricted stock arrangements. The Company expects to recognize the remaining compensation expense over a weighted-average period of 2.4 years. The following table summarizes information about deferred tax benefits recognized and tax benefits realized related to restricted stock awards and paid dividends, and the fair value of vested restricted stock for the three months ended March 31, 2020 and 2019. Three Months Ended March 31, 2020 2019 Deferred tax benefits recognized $ 284 $ 246 Tax benefits realized for restricted stock and paid dividends $ 53 $ 61 Fair value of vested restricted stock $ 1,280 $ 801 During 2019, all shares of restricted stock awards granted to employee and nonemployee directors with market-based vesting conditions were forfeited due to not meeting the vesting conditions. The dividend payments associated with these awards were expensed when declared. As a result, for the three months ended March 31, 2019, the Company recognized dividends of $114 in general and administrative personnel expenses for $85 and in other operating expenses for $29.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 19 -- Commitments and Contingencies Obligations under Multi-Year Reinsurance Contract As of March 31, 2020, the Company has a contractual obligation related to one multi-year reinsurance contract. This contract may be cancelled only with the other party’s consent. The future minimum aggregate premium amounts payable to the reinsurer is $1,034 due in April 2020. The contract expires on June 30, 2020 unless extended. Capital Commitment As described in Note 5 -- “Investments” under Limited Partnership Investments

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Note 20 -- Subsequent Events In connection with a policy replacement agreement between HCPCI and Anchor Property & Casualty Insurance Company (“Anchor”) dated February 12, 2020, HCPCI issued approximately 41,000 short-term replacement policies, effective April 1, 2020, to Anchor policyholders whose policy coverages were cancelled by Anchor effective March 31, 2020. Under the agreement, HCPCI received $30,000 as of March 31, 2020 which is reflected in advanced premiums in the consolidated balance sheet. This amount will be adjusted in June 2020 according to the terms specified in the agreement. On April 1, 2020, Gulf to Bay LM, LLC, the Company’s wholly owned real estate subsidiary, sued Kroger Co. in federal district court to enforce a guaranty of a commercial lease executed between Gulf to Bay LM, LLC and Lucky’s Market Operating Company, LLC. Lucky has filed for bankruptcy earlier this year. On April 2, 2020, Greenleaf Capital, LLC entered into a purchase and sale agreement with Tampa-Coconut Palms Office Building Exchange, LLC to acquire an office building in Tampa, Florida for a purchase price of $4,000. The transaction is expected to be finalized in late May 2020. On April 9, 2020, Greenleaf Capital, LLC decided to offer for sale its investment property in Riverview, Florida. The proceeds from the sale are expected to exceed the property’s carrying value and, accordingly, no impairment loss was recognized on the classification of this property as held for sale. On April 13, 2020, the Company’s Board of Directors declared a quarterly dividend of $0.40 per common share. The dividends are payable on June 19, 2020 to stockholders of record on May 15, 2020.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited, consolidated financial statements for HCI Group, Inc. and its majority-owned and controlled subsidiaries (collectively, the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, and the Securities and Exchange Commission (“SEC”) rules for interim financial reporting. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations. However, in the opinion of management, the accompanying consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the Company’s financial position as of March 31, 2020 and the results of operations and cash flows for the periods presented. The results of operations for the interim periods presented are not necessarily indicative of the results of operations to be expected for any subsequent interim period or for the fiscal year ending December 31, 2020. The accompanying unaudited consolidated financial statements and notes thereto should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2019 included in the Company’s Form 10-K, which was filed with the SEC on March 6, 2020. In preparing the interim unaudited consolidated financial statements, management was required to make certain judgments, assumptions, and estimates that affect the reported amounts of assets, liabilities, revenues, expenses and related disclosures at the financial reporting date and throughout the periods being reported upon. Certain of the estimates result from judgments that can be subjective and complex and consequently actual results may differ from these estimates. Material estimates that are particularly susceptible to significant change in the near term are related to the Company’s losses and loss adjustment expenses, which include amounts estimated for claims incurred but not yet reported. The Company uses various assumptions and actuarial data it believes to be reasonable under the circumstances to make these estimates. In addition, accounting policies specific to reinsurance with retrospective provisions, reinsurance recoverable, deferred income taxes, and stock-based compensation expense involve significant judgments and estimates material to the Company’s consolidated financial statements. All significant intercompany balances and transactions have been eliminated.
Adoption of New Accounting Standards	Adoption of New Accounting Standards In June 2016, the Financial Accounting Standards Board issued Accounting Standards Update No. 2016-13 (“ASU 2016-13”), Financial Instruments - Credit Losses (Topic 326), effective January 1, 2020. This update amends guidance on the recognition and measurement of credit losses for assets held at amortized cost and available-for-sale debt securities. For assets held at amortized cost, ASU 2016-13 eliminates the probable initial recognition threshold and, instead, requires credit losses to be measured using the Current Expected Credit Loss (“CECL”) model. The CECL model requires the measurement of all expected credit losses based on historical experience, current conditions, and reasonable and supportable forecasts which incorporate forward-looking information. For available-for-sale debt securities, credit losses will continue to be measured in a manner similar to the current standard. Effective January 1, 2020, the Company used a modified retrospective method for transition to the CECL model. The Company recognized a cumulative-effect adjustment of $453 related to reinsurance recoverable to beginning retained income with a corresponding entry to an allowance for credit losses account. Any subsequent changes to the expected credit losses will be recognized in the Company’s consolidated statement of income.
Allowance for Credit Losses	Allowance for Credit Losses Allowance for credit losses represents an estimation of potential losses that the Company may experience due to credit risk. The allowance for credit losses account is a contra account of a financial asset to reflect the net amount expected to be collected. Any increase or decrease in the allowance for credit losses related to investments is recognized and reflected as credit losses on investments in the Company’s consolidated statement of income. For all other financial assets, credit loss expense is included in other operating expenses. When the risk of credit loss becomes certain, the allowance for credit losses account will be written off against the financial asset. Under the CECL model, the Company measures all expected credit losses related to relevant financial assets based on historical experience, current conditions, and reasonable and supportable forecasts which incorporate forward-looking information. The Company primarily uses a discounted cash flow method and a rating-based method in estimating credit losses at a reporting date for financial assets under the scope of the CECL model. The discounted cash flow method is a valuation method used to estimate the value of a financial asset based on its future cash flows. The Company uses this method to determine the expected credit losses for available-for-sale fixed-maturity securities. In addition, the Company elects not to measure an allowance for credit losses for accrued interest receivable as any uncollectible amount is adjusted to interest income on a monthly basis. For certain financial assets related to insurance business such as reinsurance recoverable and reinsurance receivable for premium refund, the Company uses a rating-based method, which is a modified version of the probability of default method. It requires two key inputs: a) the liquidation rate and b) the amount of loss exposure. The liquidation rate, which is published annually, is the ratio of impaired insurance companies that were eventually liquidated to the group of insurance companies considered by A.M. Best in its study. The amount of loss exposure represents the future billing balance, net of any collateral, spread over the projected periods that are based on the Company’s historical claim payment pattern. The rating-based method measures credit losses by multiplying the future billings grouped by insurance rating over the projected periods by their corresponding liquidation rates by insurance rating. At present, the exposure to credit losses for certain financial assets related to non-insurance business is considered immaterial to the Company’s financial position.
Limited Partnerships Investments	Limited Partnership Investments The Company has interests in limited partnerships that are not registered under the United Stated Securities Act of 1933, as amended, the securities laws of any state or the securities laws of any other jurisdictions. The partnership interests cannot be resold in the public market and any withdrawal is subject to the terms and conditions of the partnership agreement. The Company has no influence over partnership operating and financial policies. The Company uses the equity method to account for the investments with ownership interest greater than five percent. For the investments with ownership interest at five percent or less, the Company uses the net asset value method to estimate the fair value of these investments. The Company generally recognizes its share of the limited partnership’s earnings or losses on a three-month lag. Due to the lag, the Company may record an adjustment to the Company’s most recent share of net asset value when the amount can be reasonably estimated. Net investment income or loss from limited partnerships represents a net aggregate amount of operating results allocated to the Company based on the percentage of ownership interest in each limited partnership. Pursuant to U.S. GAAP, these limited partnerships which are private equity funds must measure their investments at fair value and reflect the unrealized gains and losses in the fair value of their investments on their statement of income. As a result, the carrying value of limited partnership investments at each reporting date approximates their estimated fair value.
Premium Receivable	Premium Receivable Premium receivable represents the amount of premiums due from policyholders for insurance coverage. Premiums are recorded as receivable in the Company’s general ledger on the effective date of the policy. Premiums are billed to the policyholder 45-60 days in advance of the effective date. The policyholder is given a 30-day grace period after the effective date to pay the premium before the insurance coverage is cancelled. If the policyholder does not pay the premium, the Company can cancel the policy and has no obligation to provide insurance coverage. Unpaid renewal policies are cancelled at midnight on the last day of the period for which the policyholder has paid. The unearned premium liability for the cancelled policy is reversed along with the premium receivable balance. Therefore, there is no unpaid earned premium and credit loss associated with the cancelled policy. However, when the 30-day grace period falls between two reporting periods, the premium receivable balance at the end of the first reporting period may potentially be overstated for not considering the policy that is subsequently cancelled during the following reporting period. To mitigate the overstatement issue, the Company estimates the monetary impact from the subsequent policy cancellation by multiplying the historical cancellation rate to the premium receivable balance at the reporting date. The premium receivable balance, together with the unearned premium liability is then reduced by the computed amount. At March 31, 2020 and December 31, 2019, allowances for uncollectible premiums were $1,217 and $528, respectively.

Cash, Cash Equivalents, and R_2

Cash, Cash Equivalents, and Restricted Cash (Tables)	3 Months Ended
	Mar. 31, 2020
Cash And Cash Equivalents [Abstract]
Summary of Cash, Cash Equivalents, and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company’s consolidated balance sheets that sum to the total of the same such amounts shown in the statements of cash flows. March 31, December 31, 2020 2019 Cash and cash equivalents $ 317,078 $ 229,218 Restricted cash 700 700 Total $ 317,778 $ 229,918

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2020
Summary of Amortized Cost, Gross Unrealized Gains and Losses, and Estimated Fair Value of Available-for-Sale Securities	The Company holds investments in fixed-maturity securities that are classified as available-for-sale. At March 31, 2020 and December 31, 2019, the cost or amortized cost, allowance for credit loss, gross unrealized gains and losses, and estimated fair value of the Company’s available-for-sale securities by security type were as follows: Cost or Amortized Allowance for Credit Gross Unrealized Gross Unrealized Estimated Fair Cost Loss Gain Loss Value As of March 31, 2020 U.S. Treasury and U.S. government agencies $ 16,007 $ — $ 356 $ — $ 16,363 Corporate bonds 155,240 (439 ) 1,312 (1,094 ) 155,019 State, municipalities, and political subdivisions 7,496 — 81 (1 ) 7,576 Exchange-traded debt 7,363 — 139 (716 ) 6,786 Redeemable preferred stock 118 — — (17 ) 101 Total $ 186,224 $ (439 ) $ 1,888 $ (1,828 ) $ 185,845 As of December 31, 2019 U.S. Treasury and U.S. government agencies $ 26,220 $ — $ 78 $ (3 ) $ 26,295 Corporate bonds 157,155 — 2,212 (3 ) 159,364 State, municipalities, and political subdivisions 7,763 — 149 — 7,912 Exchange-traded debt 8,698 — 462 (15 ) 9,145 Redeemable preferred stock 118 — 5 — 123 Total $ 199,954 $ — $ 2,906 $ (21 ) $ 202,839
Scheduled Contractual Maturities of Fixed-Maturity Securities	The scheduled contractual maturities of fixed-maturity securities as of March 31, 2020 and December 31, 2019 are as follows: Amortized Estimated Cost Fair Value As of March 31, 2020 Due in one year or less $ 53,259 $ 53,556 Due after one year through five years 120,746 120,093 Due after five years through ten years 7,822 7,874 Due after ten years 4,397 4,322 $ 186,224 $ 185,845 Amortized Estimated Cost Fair Value As of December 31, 2019 Due in one year or less $ 63,135 $ 63,429 Due after one year through five years 125,833 127,660 Due after five years through ten years 6,896 7,350 Due after ten years 4,090 4,400 $ 199,954 $ 202,839
Summary of Proceeds Received and Gross Realized Gains and Losses from Sales of Available for Sale Securities	Proceeds received, and the gross realized gains and losses from sales of available-for-sale securities, for the three months ended March 31, 2020 and 2019 were as follows: Gross Realized Gross Realized Proceeds Gains Losses Three months ended March 31, 2020 $ 4,049 $ 77 $ (350 ) Three months ended March 31, 2019 $ 2,911 $ 34 $ (1 )
Summary of Securities with Gross Unrealized Loss Positions Aggregated by Investment Category	Securities with gross unrealized loss positions at March 31, 2020 and December 31, 2019, aggregated by investment category and length of time the individual securities have been in a continuous loss position, are as follows: Less Than Twelve Months Twelve Months or Longer Total Gross Estimated Gross Estimated Gross Estimated Unrealized Fair Unrealized Fair Unrealized Fair As of March 31, 2020 Loss Value Loss Value Loss Value Corporate bonds $ (1,094 ) $ 41,420 $ — $ — $ (1,094 ) $ 41,420 State, municipalities, and political subdivisions (2 ) 2,012 — — (2 ) 2,012 Exchange-traded debt (716 ) 4,238 — — (716 ) 4,238 Redeemable preferred stock (16 ) 101 — — (16 ) 101 Total $ (1,828 ) $ 47,771 $ — $ — $ (1,828 ) $ 47,771 At March 31, 2020, there were 48 securities in an unrealized loss position. Of these securities, none had been in an unrealized loss position for 12 months or longer. Less Than Twelve Months Twelve Months or Longer Total Gross Estimated Gross Estimated Gross Estimated Unrealized Fair Unrealized Fair Unrealized Fair As of December 31, 2019 Loss Value Loss Value Loss Value U.S. Treasury and U.S. government agencies $ (3 ) $ 2,292 $ — $ — $ (3 ) $ 2,292 Corporate bonds (3 ) 4,597 — — (3 ) 4,597 Exchange-traded debt (15 ) 345 — — (15 ) 345 Total $ (21 ) $ 7,234 $ — $ — $ (21 ) $ 7,234
Summary of Allowance for Credit Losses of Available-for-Sale Securities	The table below summarized the activity in the allowance for credit losses of available-for-sale securities for the three months ended on March 31, 2020: Three Months Ended March 31, 2020 Beginning allowance for credit losses $ — Credit loss expense 439 Ending allowance for credit losses $ 439
Summary of Amortized Cost, Gross Unrealized Gains and Losses, and Estimated Fair Value Of Equity Securities	The Company holds investments in equity securities measured at fair values which are readily determinable. At March 31, 2020 and December 31, 2019, the cost, gross unrealized gains and losses, and estimated fair value of the Company’s equity securities were as follows: Gross Unrealized Gross Unrealized Estimated Fair Cost Gain Loss Value March 31, 2020 $ 25,514 $ 1,369 $ (2,752 ) $ 24,131 December 31, 2019 $ 31,863 $ 3,652 $ (230 ) $ 35,285
Summary of Unrealized Gains and Losses for Equity Securities	The table below presents the portion of unrealized gains and losses in the Company’s consolidated statement of income for the periods related to equity securities still held. Three Months Ended March 31, 2020 2019 Net (losses) gains recognized $ (6,776 ) $ 4,837 Exclude: Net realized losses recognized for securities sold (1,971 ) (456 ) Net unrealized (losses) gains recognized $ (4,805 ) $ 5,293
Summary of Proceeds Received, Gross Realized Gains and Losses from Sales of Equity Securities	Proceeds received, and the gross realized gains and losses from sales of equity securities, for the three months ended March 31, 2020 and 2019 were as follows: Gross Realized Gross Realized Proceeds Gains Losses Three months ended March 31, 2020 $ 9,007 $ 785 $ (2,756 ) Three months ended March 31, 2019 $ 27,874 $ 2,074 $ (2,530 )
Schedule of Company's Investments in Limited Partnerships	. The following table provides information related to the Company’s investments in limited partnerships: March 31, 2020 December 31, 2019 Carrying Unfunded Carrying Unfunded Investment Strategy Value Balance (%)(a) Value Balance (%)(a) Primarily in senior secured loans and, to a limited extent, in other debt and equity securities of private U.S. lower-middle-market companies. (b)(c)(e) $ 8,865 $ 2,085 15.37 $ 9,659 $ 2,085 15.37 Value creation through active distressed debt investing primarily in bank loans, public and private corporate bonds, asset-backed securities, and equity securities received in connection with debt restructuring. (b)(d)(e) 5,569 — 1.76 5,985 — 1.76 High returns and long-term capital appreciation through investments in the power, utility and energy industries, and in the infrastructure sector. (b)(f)(g) 7,132 1,401 0.18 9,188 1,391 0.18 Value-oriented investments in less liquid and mispriced senior and junior debts of private equity-backed companies. (b)(h)(i) 2,492 2,093 0.47 1,602 3,106 0.47 Value-oriented investments in mature real estate private equity funds and portfolio globally. (b)(j) 1,576 8,632 2.24 1,912 8,548 2.24 Total $ 25,634 $ 14,211 $ 28,346 $ 15,130 (a) Represents the Company’s percentage investment in the fund at each balance sheet date. (b) Except under certain circumstances, withdrawals from the funds or any assignments are not permitted. Distributions, except income from late admission of a new limited partner, will be received when underlying investments of the funds are liquidated. ( c ) Expected to have a ten-year term. Although the capital commitment period has expired, there are still follow-on investments and pending commitments that require additional fundings. (d) Expected to have a three-year term from June 30, 2018. Although the capital commitment period has ended, the general partner could still request an additional funding of approximately $843 under certain circumstances. (e) At the fund manager’s discretion, the term of the fund may be extended for up to two additional one-year periods. ( f ) Expected to have a ten-year term and the capital commitment is expected to expire on June 30, 2020. (g) With the consent of a supermajority of partners, the term of the fund may be extended for up to three additional one-year periods. (h) Expected to have a six-year term from the commencement date, which can be extended for up to two additional one-year periods with the consent of either the advisory committee or a majority of limited partners. ( i ) The capital commitment was extended and is now expected to expire on December 1, 2020. (j) Expected to have an eight-year term from November 27, 2019.
Summary of Unaudited Financial Information and Unaudited Financial Position	The following tables provide FMJV’s summarized unaudited financial results and the unaudited financial positions: Three Months Ended March 31, 2020 2019 Operating results: Total revenues and gain $ — $ 2 Total expenses (19 ) (38 ) Net loss $ (19 ) $ (36 ) The Company’s share of net loss* $ (16 ) $ (33 ) * Included in net investment income in the Company’s consolidated statements of income. March 31, December 31, 2020 2019 Balance Sheet: Property and equipment, net $ 732 $ 741 Cash 96 102 Other 4 4 Total assets $ 832 $ 847 Other liabilities $ 4 $ — Members’ capital 828 847 Total liabilities and members’ capital $ 832 $ 847 Investment in unconsolidated joint venture, at equity** $ 746 $ 762 * * Includes the 90% share of FMKT Mel JV’s operating results.
Summary of Real Estate Investment	Real estate investments consist of the following as of March 31, 2020 and December 31, 2019. March 31, December 31, 2020 2019 Land $ 39,511 $ 39,511 Land improvements 11,917 11,907 Buildings 24,149 24,086 Tenant and leasehold improvements 1,486 1,487 Other 5,878 3,489 Total, at cost 82,941 80,480 Less: accumulated depreciation and amortization (7,171 ) (6,717 ) Real estate investments $ 75,770 $ 73,763
Investment (Loss) Income Summarized	Net investment (loss) income, by source, is summarized as follows: Three Months Ended March 31, 2020 2019 Available-for-sale fixed-maturity securities $ 1,515 $ 1,535 Equity securities 335 381 Investment expense (118 ) (129 ) Limited partnership investments (2,935 ) (211 ) Real estate investments 81 306 Loss from unconsolidated joint venture (16 ) (33 ) Cash and cash equivalents 939 1,076 Short-term investments 7 353 Net investment (loss) income $ (192 ) $ 3,278
Limited Partnership [Member]
Summary of Unaudited Financial Information and Unaudited Financial Position	The following is the summary of aggregated unaudited financial information of limited partnerships included in the investment strategy table above, which in certain cases is presented on a three-month lag due to the unavailability of information at the Company’s respective balance sheet dates. The financial statements of these limited partnerships are audited annually. Three Months Ended March 31, 2020 2019 Operating results: Total income $ (450,892 ) $ (90,513 ) Total expenses (54,812 ) (49,033 ) Net loss $ (505,704 ) $ (139,546 ) March 31, December 31, 2020 2019 Balance Sheet: Total assets $ 6,320,606 $ 6,850,913 Total liabilities $ 536,760 $ 549,562

Comprehensive Income (Loss) (Ta

Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Schedule of Components of Other Comprehensive Income or Loss and Related Tax Effects Allocated to Each Component	The components of other comprehensive income or loss and the related tax effects allocated to each component were as follows: Three Months Ended Three Months Ended March 31, 2020 March 31, 2019 Income Tax Income Tax Before Expense Net of Before Expense Net of Tax (Benefit) Tax Tax (Benefit) Tax Unrealized (losses) gains arising during the period $ (3,471 ) $ (851 ) $ (2,620 ) $ 2,704 $ 685 $ 2,019 Change in allowance for credit losses 439 107 332 — — — Call and repayment gains charged to investment income (66 ) (16 ) (50 ) — — — Reclassification adjustment for realized losses (gains) 273 67 206 (33 ) (8 ) (25 ) Total other comprehensive (losses) gains $ (2,825 ) $ (693 ) $ (2,132 ) $ 2,671 $ 677 $ 1,994

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Components of Long-Term Debt and Methods Used in Estimating Fair Values	The following table summarizes components of the Company’s long-term debt and methods used in estimating their fair values: Maturity Date Valuation Methodology 4.25% Convertible senior notes 2037 Quoted price 3.90% Promissory note 2032 Discounted cash flow method/Level 3 inputs 4% Promissory note 2031 Discounted cash flow method/Level 3 inputs 3.75% Callable promissory note 2036 Discounted cash flow method/Level 3 inputs 4.55% Promissory note 2036 Discounted cash flow method/Level 3 inputs
Assets Measured at Estimated Fair Value on a Recurring Basis	The following table presents information about the Company’s financial assets measured at estimated fair value on a recurring basis. The table indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value as of March 31, 2020 and December 31, 2019: Fair Value Measurements Using (Level 1) (Level 2) (Level 3) Total As of March 31, 2020 Financial Assets: Cash and cash equivalents $ 317,078 $ — $ — $ 317,078 Restricted cash $ 700 $ — $ — $ 700 Short-term investments $ 464 $ — $ — $ 464 Fixed-maturity securities: U.S. Treasury and U.S. government agencies $ 14,820 $ 1,543 $ — $ 16,363 Corporate bonds 155,019 — — 155,019 State, municipalities, and political subdivisions — 7,576 — 7,576 Exchange-traded debt 6,786 — — 6,786 Redeemable preferred stock 101 — — 101 Total available-for-sale securities $ 176,726 $ 9,119 $ — $ 185,845 Equity securities $ 24,131 $ — $ — $ 24,131 Fair Value Measurements Using (Level 1) (Level 2) (Level 3) Total As of December 31, 2019 Financial Assets: Cash and cash equivalents $ 229,218 $ — $ — $ 229,218 Restricted cash $ 700 $ — $ — $ 700 Short-term investments $ 491 $ — $ — $ 491 Fixed-maturity securities: U.S. Treasury and U.S. government agencies $ 25,294 $ 1,001 $ — $ 26,295 Corporate bonds 159,364 — — 159,364 State, municipalities, and political subdivisions — 7,912 — 7,912 Exchange-traded debt 9,145 — — 9,145 Redeemable preferred stock 123 — — 123 Total available-for-sale securities $ 193,926 $ 8,913 $ — $ 202,839 Equity securities $ 35,285 $ — $ — $ 35,285
Schedule of Fair Value Information for Financial Assets and Liabilities Carried on Balance Sheet	The following tables present fair value information for assets and liabilities that are carried on the balance sheet at amounts other than fair value as of March 31, 2020 and December 31, 2019: Carrying Fair Value Measurements Using Estimated Value (Level 1) (Level 2) (Level 3) Fair Value As of March 31, 2020 Financial Liabilities: Revolving credit facility $ 23,750 $ — $ 23,750 $ — $ 23,750 Long-term debt: 4.25% Convertible senior notes $ 135,112 $ — $ 130,813 $ — $ 130,813 3.90% Promissory note 9,829 — — 10,422 10,422 4% Promissory note 7,110 — — 7,563 7,563 3.75% Callable promissory note 7,754 — — 8,191 8,191 4.55% Promissory note 5,555 — — 6,035 6,035 Total long-term debt $ 165,360 $ — $ 130,813 $ 32,211 $ 163,024 Carrying Fair Value Measurements Using Estimated Value (Level 1) (Level 2) (Level 3) Fair Value As of December 31, 2019 Financial Liabilities: Revolving credit facility $ 9,750 $ — $ 9,750 $ — $ 9,750 Long-term debt: 4.25% Convertible senior notes $ 134,075 $ — $ 147,375 $ — $ 147,375 3.95% Promissory note 8,875 — — 8,887 8,887 4% Promissory note 7,237 — — 7,409 7,409 3.75% Callable promissory note 7,837 — — 7,861 7,861 4.55% Promissory note 5,611 — — 5,802 5,802 Total long-term debt $ 163,635 $ — $ 147,375 $ 29,959 $ 177,334

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Summary of Other Assets	The following table summarizes the Company’s other assets. March 31, December 31, 2020 2019 Benefits receivable related to retrospective reinsurance contract $ 12,000 $ 9,480 Prepaid expenses 2,094 2,107 Deposits 1,493 1,678 Lease acquisition costs, net 541 566 Other 3,841 3,249 Total other assets $ 19,969 $ 17,080

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Summary of Long-term Debt	The following table summarizes the Company’s long-term debt. March 31, December 31, 2020 2019 4.25% Convertible senior notes, due March 1, 2037 $ 143,750 $ 143,750 3.95% Promissory note, due through February 17, 2020 — 8,881 4% Promissory note, due through February 1, 2031 7,214 7,345 3.75% Callable promissory note, due through September 1, 2036 7,869 7,955 4.55% Promissory note, due through August 1, 2036 5,646 5,704 3.90% Promissory note, due through April 1, 2032 10,000 — Finance lease liabilities, due through August 15, 2023 56 60 Total principal amount 174,535 173,695 Less: unamortized discount and issuance costs (9,119 ) (10,000 ) Total long-term debt $ 165,416 $ 163,695
Summary of Future Maturities of Long-Term Debt	The following table summarizes future maturities of long-term debt as of March 31, 2020, which takes into consideration the assumption that the 4.25% Convertible Senior Notes are repurchased at the earliest call date. Due in 12 months following March 31, 2020 $ 1,452 2021 145,289 2022 1,598 2023 1,654 2024 1,715 Thereafter 22,827 Total $ 174,535
Schedule of Interest Expense Related to Long-Term Debt	Information with respect to interest expense related to long-term debt is as follows: Three Months Ended March 31, 2020 2019 Interest Expense: Contractual interest $ 1,806 $ 2,557 Non-cash expense (a) 1,052 1,790 Capitalized interest (b) (41 ) (79 ) $ 2,817 $ 4,268 (a) Includes amortization of debt discount and issuance costs. (b) Interest was capitalized for a construction project.

Reinsurance (Tables)

Reinsurance (Tables)	3 Months Ended
	Mar. 31, 2020
Insurance [Abstract]
Impact of the Reinsurance Treaties on Premiums Written and Earned	The impact of the reinsurance contracts on premiums written and earned is as follows: Three Months Ended March 31, 2020 2019 Premiums Written: Direct $ 76,572 $ 67,612 Assumed (54 ) (2 ) Gross written 76,518 67,610 Ceded (30,719 ) (31,413 ) Net premiums written $ 45,799 $ 36,197 Premiums Earned: Direct $ 90,767 $ 82,599 Assumed 1,598 (2 ) Gross earned 92,365 82,597 Ceded (30,719 ) (31,413 ) Net premiums earned $ 61,646 $ 51,184

Losses and Loss Adjustment Ex_2

Losses and Loss Adjustment Expenses (Tables)	3 Months Ended
	Mar. 31, 2020
Insurance [Abstract]
Liability for Unpaid Losses and Loss Adjustment Expenses	Activity in the liability for unpaid losses and loss adjustment expenses is summarized as follows: Three Months Ended March 31, 2020 2019 Net balance, beginning of period* $ 98,174 $ 94,826 Incurred, net of reinsurance, related to: Current period 25,803 24,321 Prior period 2,275 2,675 Total incurred, net of reinsurance 28,078 26,996 Paid, net of reinsurance, related to: Current period (4,484 ) (3,930 ) Prior period (15,892 ) (19,439 ) Total paid, net of reinsurance (20,376 ) (23,369 ) Net balance, end of period 105,876 98,453 Add: reinsurance recoverable before allowance for credit losses 101,232 86,208 Gross balance, end of period $ 207,108 $ 184,661 *Net balance represents beginning-of-period liability for unpaid losses and loss adjustment expenses less beginning-of-period reinsurance recoverable for unpaid losses and loss adjustment expenses.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Summary of Segment Information Reconciled to Consolidated Statements of Income	The following tables present segment information reconciled to the Company’s consolidated statements of income. Intersegment transactions are not eliminated from segment results. However, intracompany transactions are eliminated in segment results below. Insurance Real Corporate/ Reclassification/ For Three Months Ended March 31, 2020 Operations Estate(a) Other(b) Elimination Consolidated Revenue: Net premiums earned $ 61,646 $ — $ — $ — $ 61,646 Net investment income (loss) 2,333 1 (2,370 ) (156 ) (192 ) Net realized investment losses (1,822 ) — (422 ) — (2,244 ) Net unrealized investment losses (4,097 ) — (708 ) — (4,805 ) Credit losses on investments (439 ) — — — (439 ) Policy fee income 829 — — — 829 Other 275 2,559 1,372 (3,621 ) 585 Total revenue 58,725 2,560 (2,128 ) (3,777 ) 55,380 Expenses: Losses and loss adjustment expenses 28,078 — — — 28,078 Amortization of deferred policy acquisition costs 10,857 — — — 10,857 Interest expense — 473 2,717 (220 ) 2,970 Depreciation and amortization 31 656 402 (612 ) 477 Other 8,075 1,251 5,960 (2,945 ) 12,341 Total expenses 47,041 2,380 9,079 (3,777 ) 54,723 Income (loss) before income taxes $ 11,684 $ 180 $ (11,207 ) $ — $ 657 Total revenue (investment loss) from non-affiliates(c) $ 58,725 $ 2,094 $ (2,626 ) (a) Other revenue under real estate primarily consisted of rental income from investment properties. (b) Other revenue under corporate and other primarily consisted of revenue from restaurant and marina businesses. (c) Represents amounts before reclassification of certain revenue and expenses to conform with an insurance company’s presentation Insurance Real Corporate/ Reclassification/ For Three Months Ended March 31, 2019 Operations Estate(a) Other(b) Elimination Consolidated Revenue: Net premiums earned $ 51,184 $ — $ — $ — $ 51,184 Net investment income 2,628 — 507 143 3,278 Net realized investment gains 198 — (570 ) — (372 ) Net unrealized investment (losses) gains 4,310 — 983 — 5,293 Policy fee income 795 — — — 795 Other 176 2,312 1,551 (3,583 ) 456 Total revenue 59,291 2,312 2,471 (3,440 ) 60,634 Expenses: Losses and loss adjustment expenses 26,996 — — — 26,996 Amortization of deferred policy acquisition costs 8,656 — — — 8,656 Interest expense 1 383 4,083 (130 ) 4,337 Depreciation and amortization 27 583 268 (484 ) 394 Other 7,090 1,108 5,596 (2,826 ) 10,968 Total expenses 42,770 2,074 9,947 (3,440 ) 51,351 Income (loss) before income taxes $ 16,521 $ 238 $ (7,476 ) $ — $ 9,283 Total revenue from non-affiliates(c) $ 59,291 $ 1,903 $ 2,060 (a) Other revenue under real estate primarily consisted of rental income from investment properties. (b) Other revenue under corporate and other primarily consisted of revenue from restaurant and marina businesses. (c) Represents amounts before reclassification of certain revenue and expenses to conform with an insurance company’s presentation
Summary of Segment Assets Reconciled to Consolidated Balance Sheet	March 31, December 31, 2020 2019 Segment: Insurance Operations $ 682,466 $ 663,280 Real Estate Operations 96,511 93,727 Corporate and Other 85,179 60,662 Consolidation and Elimination (27,817 ) (15,060 ) Total assets $ 836,339 $ 802,609

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Disclosure Of Leases [Abstract]
Disclosure of right-of-use assets and liabilities for operating and finance leases	The table below summarizes the Company’s right-of-use (“ROU”) assets and corresponding liabilities for operating and finance leases: March 31, December 31, 2020 2019 Operating leases: ROU Assets $ 410 $ 484 Liabilities $ 425 $ 513 Finance leases: ROU Assets $ 79 $ 79 Liabilities $ 56 $ 60
Disclosure of operating and finance leases of lessee	The following table summarizes the Company’s operating and finance leases in which the Company is a lessee: Renewal Other Terms and Class of Assets Initial Term Option Conditions Operating lease: Office equipment 1 to 63 months Yes (a), (b) Storage units 2 years Yes (b) Office space 3 to 10 years Yes (b), (c) Finance lease: Office equipment 3 to 5 years Not applicable (d) (a) At the end of the lease term, the Company can purchase the equipment at fair market value. (b) There are no variable lease payments. (c) Rent escalation provisions exist. (d) There is a bargain purchase option.
Disclosure of lease liabilities maturities	As of March 31, 2020, maturities of lease liabilities were as follows: Leases Operating Finance Due in 12 months following March 31, 2020 $ 318 $ 19 2021 126 19 2022 12 15 2023 — 7 Total lease payments 456 60 Less: interest and foreign taxes 31 4 Total lease obligations $ 425 $ 56
Disclosure of quantitative information of operating and finance leases	The following table provides quantitative information with regard to the Company’s operating and finance leases. Three Months Ended March 31, 2020 2019 Lease costs: Finance lease costs: Amortization – ROU assets* $ 4 $ 3 Interest expense 1 1 Operating lease costs* 78 81 Short-term lease costs* 49 45 Total lease costs $ 132 $ 130 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows – finance leases $ 1 $ 1 Operating cash flows – operating leases $ 80 $ 78 Financing cash flows – finance leases $ 4 $ 2 March 31, 2020 Weighted-average remaining lease term: Finance leases (in years) 3.2 Operating leases (in years) 1.5 Weighted-average discount rate: Finance leases 3.7% Operating leases 4.0% * Included in other operating expenses of the consolidated statement of income.
Disclosure of operating leases of lessor entity	The following table summarizes the Company’s operating leases in which the Company is a lessor: Renewal Other Terms and Class of Assets Initial Term Option Conditions Operating lease: Office space 1 to 3 years Yes (e) Retail space 3 to 20 years Yes (e) Boat docks/wet slips 1 to 12 months Yes (e) (e) There are no purchase options.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Summary of Numerator and Denominator of Basic and Diluted Earnings Per Common Share	A summary of the numerator and denominator of the basic and diluted earnings per common share is presented below. Three Months Ended Three Months Ended March 31, 2020 March 31, 2019 Income Shares Per Share Income Shares Per Share (Numerator) (Denominator) Amount (Numerator) (Denominator) Amount Net income $ 547 $ 6,738 Less: Income attributable to participating securities (13 ) (408 ) Basic Earnings Per Share: Income allocated to common stockholders 534 7,369 $ 0.07 6,330 7,736 $ 0.82 Effect of Dilutive Securities: * Stock options — 9 — 19 Diluted Earnings Per Share: Income available to common stockholders and assumed conversions $ 534 7,378 $ 0.07 $ 6,330 7,755 $ 0.82 * For the three months ended March 31, 2020 and 2019, convertible senior notes were excluded due to anti-dilutive effect.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Company's Stock Option Plan Activity	A summary of the stock option activity for the three months ended March 31, 2020 and 2019 is as follows (option amounts not in thousands): Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Price Term Value Outstanding at January 1, 2020 340,000 $ 43.21 7.9 years $ 1,657 Granted 110,000 $ 48.00 Exercised (10,000 ) $ 6.30 Outstanding at March 31, 2020 440,000 $ 45.25 8.3 years $ — Exercisable at March 31, 2020 165,000 $ 42.17 7.5 years $ — Outstanding at January 1, 2019 240,000 $ 37.19 8.8 years $ 3,278 Granted 110,000 $ 53.00 Outstanding at March 31, 2019 350,000 $ 42.16 8.5 years $ 1,329 Exercisable at March 31, 2019 102,500 $ 33.42 7.0 years $ 954
Information about Options Exercised	The following table summarizes information about options exercised for the three months ended March 31, 2020 and 2019 (option amounts not in thousands): Three Months Ended March 31, 2020 2019 Options exercised 10,000 — Total intrinsic value of exercised options $ 288 $ — Tax benefits realized $ 71 $ —
Assumptions Used to Estimate the Fair Value of Stock Options Granted	The following table provides assumptions used in the Black-Scholes option-pricing model to estimate the fair value of the stock options granted during the three months ended March 31, 2020 and 2019: 2020 2019 Expected dividend yield 3.48 % 3.34 % Expected volatility 38.68 % 40.17 % Risk-free interest rate 1.63 % 2.53 % Expected life (in years) 5 5
Information with Respect to Unvested Restricted Stock Awards Stock Option and Incentive Plan	Information with respect to the activity of unvested restricted stock awards during the three months ended March 31, 2020 and 2019 is as follows: Number of Weighted Restricted Average Stock Grant Date Awards Fair Value Nonvested at January 1, 2020 396,760 $ 41.71 Granted 45,000 $ 44.97 Vested (31,250 ) $ 40.97 Forfeited (7,138 ) $ 42.60 Nonvested at March 31, 2020 403,372 $ 42.12 Nonvested at January 1, 2019 632,296 $ 33.33 Granted 40,000 $ 47.94 Vested (21,250 ) $ 37.69 Forfeited (4,681 ) $ 42.79 Nonvested at March 31, 2019 646,365 $ 34.03
Information about Deferred Tax Benefits Recognized Related to Restricted Stock Awards, Paid Dividends and the Fair Value of Vested Restricted Stock	The following table summarizes information about deferred tax benefits recognized and tax benefits realized related to restricted stock awards and paid dividends, and the fair value of vested restricted stock for the three months ended March 31, 2020 and 2019. Three Months Ended March 31, 2020 2019 Deferred tax benefits recognized $ 284 $ 246 Tax benefits realized for restricted stock and paid dividends $ 53 $ 61 Fair value of vested restricted stock $ 1,280 $ 801

Nature of Operations - Addition

Nature of Operations - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020USD ($)Restaurant
Collaboration Arrangement Disclosure [Abstract]
Number of restaurant owned | Restaurant	1
Impairment real estate investments or intangible assets | $	$ 0

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	Jan. 01, 2020	Mar. 31, 2020	Dec. 31, 2019
Summary Of Significant Accounting Policies [Line Items]
Cumulative-effect adjustment recognized to retained income		$ (453)
Minimum ownership interest percentage for limited partnerships accounted investments for using equity method		5.00%
Unpaid earned premium and credit loss		$ 0
Allowance for uncollectible premiums		$ 1,217	$ 528
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Ownership interest to estimate net asset value method		5.00%
Allowance for Credit Losses [Member] | Reinsurance Recoverable [Member]
Summary Of Significant Accounting Policies [Line Items]
Cumulative-effect adjustment recognized to retained income	$ 453

Cash, Cash Equivalents, and R_3

Cash, Cash Equivalents, and Restricted Cash - Summary of Cash, Cash Equivalents, and Restricted Cash (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	$ 317,078	$ 229,218
Restricted cash	700	700
Total	$ 317,778	$ 229,918

Investments - Summary of Amorti

Investments - Summary of Amortized Cost, Allowance for Credit Loss, Gross Unrealized Gains and Losses, and Estimated Fair Value of Available-for-Sale Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Schedule of Available-for-sale Securities [Line Items]
Fixed-maturity securities, Cost or Amortized Cost	$ 186,224	$ 199,954
Fixed-maturity securities, Allowance for Credit Loss	(439)	0
Fixed-maturity securities, Gross Unrealized Gain	1,888	2,906
Fixed-maturity securities, Gross Unrealized Loss	(1,828)	(21)
Fixed-maturity securities, Estimated Fair Value	185,845	202,839
Fixed-Maturity Securities [Member] | U.S. Treasury and U.S. Government Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed-maturity securities, Cost or Amortized Cost	16,007	26,220
Fixed-maturity securities, Gross Unrealized Gain	356	78
Fixed-maturity securities, Gross Unrealized Loss		(3)
Fixed-maturity securities, Estimated Fair Value	16,363	26,295
Fixed-Maturity Securities [Member] | Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed-maturity securities, Cost or Amortized Cost	155,240	157,155
Fixed-maturity securities, Allowance for Credit Loss	(439)
Fixed-maturity securities, Gross Unrealized Gain	1,312	2,212
Fixed-maturity securities, Gross Unrealized Loss	(1,094)	(3)
Fixed-maturity securities, Estimated Fair Value	155,019	159,364
Fixed-Maturity Securities [Member] | State, Municipalities, and Political Subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed-maturity securities, Cost or Amortized Cost	7,496	7,763
Fixed-maturity securities, Gross Unrealized Gain	81	149
Fixed-maturity securities, Gross Unrealized Loss	(1)
Fixed-maturity securities, Estimated Fair Value	7,576	7,912
Fixed-Maturity Securities [Member] | Exchange-Traded Debt [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed-maturity securities, Cost or Amortized Cost	7,363	8,698
Fixed-maturity securities, Gross Unrealized Gain	139	462
Fixed-maturity securities, Gross Unrealized Loss	(716)	(15)
Fixed-maturity securities, Estimated Fair Value	6,786	9,145
Fixed-Maturity Securities [Member] | Redeemable Preferred Stock [Member]
Schedule of Available-for-sale Securities [Line Items]
Fixed-maturity securities, Cost or Amortized Cost	118	118
Fixed-maturity securities, Gross Unrealized Gain		5
Fixed-maturity securities, Gross Unrealized Loss	(17)
Fixed-maturity securities, Estimated Fair Value	$ 101	$ 123

Investments - Scheduled Contrac

Investments - Scheduled Contractual Maturities of Fixed-Maturity Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Investments Debt And Equity Securities [Abstract]
Due in one year or less, Amortized Cost	$ 53,259	$ 63,135
Due after one year through five years, Amortized Cost	120,746	125,833
Due after five years through ten years, Amortized Cost	7,822	6,896
Due after ten years, Amortized Cost	4,397	4,090
Fixed-maturity securities, Cost or Amortized Cost	186,224	199,954
Due in one year or less, Fair Value	53,556	63,429
Due after one year through five years, Fair Value	120,093	127,660
Due after five years through ten years, Fair Value	7,874	7,350
Due after ten years, Fair Value	4,322	4,400
Fair Value Total	$ 185,845	$ 202,839

Investments - Summary of Sales

Investments - Summary of Sales of Available-for-sale Fixed-Maturity Securities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Schedule of Available-for-sale Securities [Line Items]
Proceeds	$ 4,049	$ 2,911
Fixed-Maturity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Proceeds	4,049	2,911
Gross Realized Gains	77	34
Gross Realized Losses	$ (350)	$ (1)

Investments - Summary of Securi

Investments - Summary of Securities with Gross Unrealized Loss Positions Aggregated by Investment Category (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Loss, Less than Twelve Months	$ (1,828)	$ (21)
Estimated Fair Value, Less than Twelve Months	47,771	7,234
Gross Unrealized Loss, Total	(1,828)	(21)
Estimated Fair Value, Total	47,771	7,234
Fixed-Maturity Securities [Member] | Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Loss, Less than Twelve Months	(1,094)	(3)
Estimated Fair Value, Less than Twelve Months	41,420	4,597
Gross Unrealized Loss, Twelve Months or Longer		0
Estimated Fair Value, Twelve Months or Longer		0
Gross Unrealized Loss, Total	(1,094)	(3)
Estimated Fair Value, Total	41,420	4,597
Fixed-Maturity Securities [Member] | State, Municipalities, and Political Subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Loss, Less than Twelve Months	(2)
Estimated Fair Value, Less than Twelve Months	2,012
Gross Unrealized Loss, Total	(2)
Estimated Fair Value, Total	2,012
Fixed-Maturity Securities [Member] | Exchange-Traded Debt [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Loss, Less than Twelve Months	(716)	(15)
Estimated Fair Value, Less than Twelve Months	4,238	345
Gross Unrealized Loss, Twelve Months or Longer	0	0
Estimated Fair Value, Twelve Months or Longer	0	0
Gross Unrealized Loss, Total	(716)	(15)
Estimated Fair Value, Total	4,238	345
Fixed-Maturity Securities [Member] | Redeemable Preferred Stock [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Loss, Less than Twelve Months	(16)
Estimated Fair Value, Less than Twelve Months	101
Gross Unrealized Loss, Total	(16)
Estimated Fair Value, Total	$ 101
Fixed-Maturity Securities [Member] | U.S. Treasury and U.S. Government Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Loss, Less than Twelve Months		(3)
Estimated Fair Value, Less than Twelve Months		2,292
Gross Unrealized Loss, Total		(3)
Estimated Fair Value, Total		$ 2,292

Investments (Other-than-tempora

Investments (Other-than-temporary Impairment) - Additional Information (Detail) - Security	Mar. 31, 2020	Dec. 31, 2019
Investments Debt And Equity Securities [Abstract]
Number of securities in an unrealized loss position	48	8
Number of securities had been in an unrealized loss position for 12 months or longer	0	0

Investments - Summary of Allowa

Investments - Summary of Allowance for Credit Losses of Available-for-Sale Securities (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Investments Debt And Equity Securities [Abstract]
Beginning allowance for credit losses	$ 0
Credit loss expense	439
Ending allowance for credit losses	$ (439)

Investments - Summary of Amor_2

Investments - Summary of Amortized Cost, Gross Unrealized Gains and Losses, and Estimated Fair Value of Equity Securities (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Investments Debt And Equity Securities [Abstract]
Cost	$ 25,514	$ 31,863
Gross Unrealized Gain	1,369	3,652
Gross Unrealized Loss	(2,752)	(230)
Estimated Fair Value	$ 24,131	$ 35,285

Investments - Summary of Unreal

Investments - Summary of Unrealized Gains and Losses in Consolidated Statement of Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Gain (Loss) on Securities [Line Items]
Net unrealized investment (losses) gains	$ (4,805)	$ 5,293
Equity Securities [Member]
Gain (Loss) on Securities [Line Items]
Net (losses) gains recognized	(6,776)	4,837
Exclude: Net realized losses recognized for securities sold	(1,971)	(456)
Net unrealized investment (losses) gains	$ (4,805)	$ 5,293

Investments - Summary of Procee

Investments - Summary of Proceeds Received and The Gross Realized Gains and Losses From Sales of Equity Securities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Debt and Equity Securities, FV-NI [Line Items]
Proceeds	$ 9,007	$ 27,874
Equity Securities [Member]
Debt and Equity Securities, FV-NI [Line Items]
Proceeds	9,007	27,874
Gross Realized Gains	785	2,074
Gross Realized Losses	$ (2,756)	$ (2,530)

Investments - Schedule of Compa

Investments - Schedule of Company's Investments in Limited Partnerships (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Investment Securities [Line Items]
Carrying Value	$ 25,634	$ 28,346
Unfunded Balance	14,211	15,130
Private US Lower Middle Market Companies [Member]
Investment Securities [Line Items]
Carrying Value	8,865	9,659
Unfunded Balance	$ 2,085	$ 2,085
Percentage investment held by the entity	15.37%	15.37%
Bank Loans Public and Private Corporate Bonds Asset Backed Securities Equity and Debt Restructuring [Member]
Investment Securities [Line Items]
Carrying Value	$ 5,569	$ 5,985
Percentage investment held by the entity	1.76%	1.76%
Power Utility and Energy Industries and Infrastructure [Member]
Investment Securities [Line Items]
Carrying Value	$ 7,132	$ 9,188
Unfunded Balance	$ 1,401	$ 1,391
Percentage investment held by the entity	0.18%	0.18%
Senior and Junior Debts of Private Equity-Backed Companies [Member]
Investment Securities [Line Items]
Carrying Value	$ 2,492	$ 1,602
Unfunded Balance	$ 2,093	$ 3,106
Percentage investment held by the entity	0.47%	0.47%
Mature Real Estate Private Equity Funds And Portfolio Globally [Member]
Investment Securities [Line Items]
Carrying Value	$ 1,576	$ 1,912
Unfunded Balance	$ 8,632	$ 8,548
Percentage investment held by the entity	2.24%	2.24%

Investments - Schedule of Com_2

Investments - Schedule of Company's Investments in Limited Partnerships (Parenthetical) (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Schedule Of Investments [Line Items]
Additional funding circumstances	$ 843
Private US Lower Middle Market Companies [Member]
Schedule Of Investments [Line Items]
Expected term	10 years
Investment additional maturity term	2 years
Bank Loans Public and Private Corporate Bonds Asset Backed Securities Equity and Debt Restructuring [Member]
Schedule Of Investments [Line Items]
Expected term	3 years
Investment additional maturity term	2 years
Power Utility and Energy Industries and Infrastructure [Member]
Schedule Of Investments [Line Items]
Expected term	10 years
Investment additional maturity term	3 years
Expiration date of capital commitment	Jun. 30, 2020
Senior and Junior Debts of Private Equity-Backed Companies [Member]
Schedule Of Investments [Line Items]
Expected term	6 years
Investment additional maturity term	2 years
Expiration date of capital commitment	Dec. 1, 2020
Mature Real Estate Private Equity Funds And Portfolio Globally [Member]
Schedule Of Investments [Line Items]
Expected term	8 years

Investments - Summary of Unaudi

Investments - Summary of Unaudited Financial Information and Unaudited Financial Position of Limited Partnerships (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Schedule Of Equity Method Investments [Line Items]
Total income	$ 55,380	$ 60,634
Limited Partnership [Member]
Schedule Of Equity Method Investments [Line Items]
Total income	(450,892)	(90,513)
Total expenses	(54,812)	(49,033)
Net loss	(505,704)	$ (139,546)
Balance Sheet:
Total assets	6,320,606		$ 6,850,913
Total liabilities	$ 536,760		$ 549,562

Investments (Limited Partnershi

Investments (Limited Partnership Investments) - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Schedule Of Investments [Line Items]
Recognized investment income (loss)	$ 2,935	$ 211
Limited partnership investment, estimated unfavorable change in net asset value	2,968
Return on investment	382	1,013
Limited Partnership [Member]
Schedule Of Investments [Line Items]
Cash distributions	696	1,013
Return on investment	382	$ 1,013
Company's contributed capital to the partnership	30,447		$ 29,528
Maximum exposure loss relating to VIE	$ 25,634		$ 28,346

Investments (Investment in Unco

Investments (Investment in Unconsolidated Joint Venture) - Additional Information (Detail) - FMKT Mel JV, LLC [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Schedule Of Investments [Line Items]
Maximum exposure loss relating to VIE	$ 746		$ 762
Undistributed gain (loss) after equity distribution	0		$ 0
Cash distributions	$ 0	$ 0

Investments - Summary of Unau_2

Investments - Summary of Unaudited Financial Information and Unaudited Financial Position of Joint Venture (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Operating results:
Total revenues and gain	$ 55,380	$ 60,634
The Company’s share of net loss*	(16)	(33)
Balance Sheet:
Other	19,969		$ 17,080
Total assets	836,339		802,609
Other liabilities	38,512		28,029
Total liabilities and stockholders’ equity	836,339		802,609
Investment in unconsolidated joint venture, at equity	746		762
Unconsolidated Joint Venture [Member]
Operating results:
Total revenues and gain		2
Total expenses	(19)	(38)
Net loss	(19)	(36)
Balance Sheet:
Property and equipment, net	732		741
Cash	96		102
Other	4		4
Total assets	832		847
Other liabilities	4
Members’ capital	828		847
Total liabilities and stockholders’ equity	832		$ 847
Operating Expense [Member]
Operating results:
The Company’s share of net loss*	$ (16)	$ (33)

Investments - Summary of Unau_3

Investments - Summary of Unaudited Financial Information and Unaudited Financial Position of Joint Venture (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2020
Unconsolidated Joint Venture [Member]
Variable Interest Entity [Line Items]
Percentage of operating results	90.00%

Investments - Summary of Real E

Investments - Summary of Real Estate Investment (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Real Estate [Abstract]
Land	$ 39,511	$ 39,511
Land improvements	11,917	11,907
Buildings	24,149	24,086
Tenant and leasehold improvements	1,486	1,487
Other	5,878	3,489
Total, at cost	82,941	80,480
Less: accumulated depreciation and amortization	(7,171)	(6,717)
Real estate investments	$ 75,770	$ 73,763

Investments (Real Estate Invest

Investments (Real Estate Investments) - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Schedule Of Investments [Line Items]
Depreciation and amortization expenses under real estate investments	$ 477	$ 394
Construction Costs [Member]
Schedule Of Investments [Line Items]
Cost related to ongoing development project	2,338
Real Estate Investments [Member]
Schedule Of Investments [Line Items]
Depreciation and amortization expenses under real estate investments	$ 455	$ 332

Investments - Investment (Loss)

Investments - Investment (Loss) Income Summarized (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Schedule Of Investments [Line Items]
Investment income	$ (2,935)	$ (211)
Real estate investments	81	306
Net investment (loss) income	(192)	3,278
Available-for-Sale-Fixed-Maturity Securities [Member]
Schedule Of Investments [Line Items]
Investment income	1,515	1,535
Equity Securities [Member]
Schedule Of Investments [Line Items]
Investment income	335	381
Limited Partnership Investment [Member]
Schedule Of Investments [Line Items]
Investment income	(2,935)	(211)
Cash and Cash Equivalents [Member]
Schedule Of Investments [Line Items]
Investment income	939	1,076
Short-term Investments [Member]
Schedule Of Investments [Line Items]
Investment income	7	353
Investment Expense [Member]
Schedule Of Investments [Line Items]
Investment expense	(118)	(129)
Loss from Unconsolidated Joint Venture [Member]
Schedule Of Investments [Line Items]
Investment income	$ (16)	$ (33)

Comprehensive Income (Loss) - S

Comprehensive Income (Loss) - Schedule of Components of Other Comprehensive Income or Loss and Related Tax Effects Allocated to Each Component (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Before Tax
Unrealized (losses) gains arising during the period, Before Tax	$ (3,471)	$ 2,704
Change in allowance for credit losses, Before Tax	439
Call and repayment (gains) losses charged to investment income, Before Tax	(66)
Reclassification adjustment for realized losses (gains), Before Tax	273	(33)
Total other comprehensive (losses) gains, Before Tax	(2,825)	2,671
Income Tax Expense (Benefit)
Unrealized (losses) gains arising during the period, Income Tax Expense (Benefit)	(851)	685
Change in allowance for credit losses, Income Tax Expense (Benefit)	107
Call and repayment (gains) losses charged to investment income, Income Tax Expense (Benefit)	(16)
Reclassification adjustment for realized losses (gains), Income Tax Expense (Benefit)	67	(8)
Total other comprehensive (losses) gains, Income Tax Expense (Benefit)	(693)	677
Net of Tax
Unrealized (losses) gains arising during the period, Net of Tax	(2,620)	2,019
Change in allowance for credit losses, Net of Tax	332
Call and repayment (gains) losses charged to investment income, Net of Tax	(50)
Reclassification adjustment for realized losses (gains), Net of Tax	206	(25)
Total other comprehensive (loss) income, net of income taxes	$ (2,132)	$ 1,994

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money Market Funds and Certificate Of Deposit Maturity Period	90 days
Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short Term Investements Maturity Period	91 days
Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short Term Investements Maturity Period	365 days

Fair Value Measurements - Compo

Fair Value Measurements - Components of Long-Term Debt and Methods Used in Estimating Fair Values (Detail)	3 Months Ended
	Mar. 31, 2020
4.25% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	2037
Valuation Methodology	Quoted price
3.90% Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	2032
Valuation Methodology	Discounted cash flow method/Level 3 inputs
4% Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	2031
Valuation Methodology	Discounted cash flow method/Level 3 inputs
3.75% Callable Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	2036
Valuation Methodology	Discounted cash flow method/Level 3 inputs
4.55% Promissory note [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	2036
Valuation Methodology	Discounted cash flow method/Level 3 inputs

Fair Value Measurements - Com_2

Fair Value Measurements - Components of Long-Term Debt and Methods Used in Estimating Fair Values (Parenthetical) (Detail)	Mar. 31, 2020
4.25% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	4.25%
3.90% Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	3.90%
4% Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	4.00%
3.75% Callable Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	3.75%
4.55% Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	4.55%

Fair Value Measurements - Avail

Fair Value Measurements - Available-for-Sale Securities Measured at Fair Value (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Financial Assets:
Restricted cash	$ 700	$ 700
Short-term investments	464	491
Total available-for-sale securities	185,845	202,839
Equity securities	24,131	35,285
Fair Value, Measurements, Recurring [Member]
Financial Assets:
Cash and cash equivalents	317,078	229,218
Restricted cash	700	700
Short-term investments	464	491
Total available-for-sale securities	185,845	202,839
Equity securities	24,131	35,285
Fair Value, Measurements, Recurring [Member] | (Level 1) [Member]
Financial Assets:
Cash and cash equivalents	317,078	229,218
Restricted cash	700	700
Short-term investments	464	491
Total available-for-sale securities	176,726	193,926
Equity securities	24,131	35,285
Fair Value, Measurements, Recurring [Member] | (Level 2) [Member]
Financial Assets:
Total available-for-sale securities	9,119	8,913
U.S. Treasury and U.S. Government Agencies [Member] | Fair Value, Measurements, Recurring [Member]
Financial Assets:
Total available-for-sale securities	16,363	26,295
U.S. Treasury and U.S. Government Agencies [Member] | Fair Value, Measurements, Recurring [Member] | (Level 1) [Member]
Financial Assets:
Total available-for-sale securities	14,820	25,294
U.S. Treasury and U.S. Government Agencies [Member] | Fair Value, Measurements, Recurring [Member] | (Level 2) [Member]
Financial Assets:
Total available-for-sale securities	1,543	1,001
Corporate Bonds [Member] | Fair Value, Measurements, Recurring [Member]
Financial Assets:
Total available-for-sale securities	155,019	159,364
Corporate Bonds [Member] | Fair Value, Measurements, Recurring [Member] | (Level 1) [Member]
Financial Assets:
Total available-for-sale securities	155,019	159,364
State, Municipalities, and Political Subdivisions [Member] | Fair Value, Measurements, Recurring [Member]
Financial Assets:
Total available-for-sale securities	7,576	7,912
State, Municipalities, and Political Subdivisions [Member] | Fair Value, Measurements, Recurring [Member] | (Level 2) [Member]
Financial Assets:
Total available-for-sale securities	7,576	7,912
Exchange-Traded Debt [Member] | Fair Value, Measurements, Recurring [Member]
Financial Assets:
Total available-for-sale securities	6,786	9,145
Exchange-Traded Debt [Member] | Fair Value, Measurements, Recurring [Member] | (Level 1) [Member]
Financial Assets:
Total available-for-sale securities	6,786	9,145
Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member]
Financial Assets:
Total available-for-sale securities	101	123
Redeemable Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | (Level 1) [Member]
Financial Assets:
Total available-for-sale securities	$ 101	$ 123

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Information for Financial Assets and Liabilities Carried on Balance Sheet (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Financial Liabilities:
Revolving credit facility	$ 23,750	$ 9,750
Total long-term debt	165,416	163,695
Carrying Value [Member]
Financial Liabilities:
Revolving credit facility	23,750	9,750
Total long-term debt	165,360	163,635
Carrying Value [Member] | 4.25% Convertible Senior Notes [Member]
Financial Liabilities:
Total long-term debt	135,112	134,075
Carrying Value [Member] | 3.90% Promissory Note [Member]
Financial Liabilities:
Total long-term debt	9,829
Carrying Value [Member] | 4% Promissory Note [Member]
Financial Liabilities:
Total long-term debt	7,110	7,237
Carrying Value [Member] | 3.75% Callable Promissory Note
Financial Liabilities:
Total long-term debt	7,754	7,837
Carrying Value [Member] | 4.55% Promissory note [Member]
Financial Liabilities:
Total long-term debt	5,555	5,611
Carrying Value [Member] | 3.95% Promissory Note [Member]
Financial Liabilities:
Total long-term debt		8,875
Estimate of Fair Value Measurement [Member]
Financial Liabilities:
Revolving credit facility	23,750	9,750
Total long-term debt	163,024	177,334
Estimate of Fair Value Measurement [Member] | (Level 2) [Member]
Financial Liabilities:
Revolving credit facility	23,750	9,750
Total long-term debt	130,813	147,375
Estimate of Fair Value Measurement [Member] | (Level 3) [Member]
Financial Liabilities:
Total long-term debt	32,211	29,959
Estimate of Fair Value Measurement [Member] | 4.25% Convertible Senior Notes [Member]
Financial Liabilities:
Total long-term debt	130,813	147,375
Estimate of Fair Value Measurement [Member] | 4.25% Convertible Senior Notes [Member] | (Level 2) [Member]
Financial Liabilities:
Total long-term debt	130,813	147,375
Estimate of Fair Value Measurement [Member] | 3.90% Promissory Note [Member]
Financial Liabilities:
Total long-term debt	10,422
Estimate of Fair Value Measurement [Member] | 3.90% Promissory Note [Member] | (Level 3) [Member]
Financial Liabilities:
Total long-term debt	10,422
Estimate of Fair Value Measurement [Member] | 4% Promissory Note [Member]
Financial Liabilities:
Total long-term debt	7,563	7,409
Estimate of Fair Value Measurement [Member] | 4% Promissory Note [Member] | (Level 3) [Member]
Financial Liabilities:
Total long-term debt	7,563	7,409
Estimate of Fair Value Measurement [Member] | 3.75% Callable Promissory Note
Financial Liabilities:
Total long-term debt	8,191	7,861
Estimate of Fair Value Measurement [Member] | 3.75% Callable Promissory Note | (Level 3) [Member]
Financial Liabilities:
Total long-term debt	8,191	7,861
Estimate of Fair Value Measurement [Member] | 4.55% Promissory note [Member]
Financial Liabilities:
Total long-term debt	6,035	5,802
Estimate of Fair Value Measurement [Member] | 4.55% Promissory note [Member] | (Level 3) [Member]
Financial Liabilities:
Total long-term debt	$ 6,035	5,802
Estimate of Fair Value Measurement [Member] | 3.95% Promissory Note [Member]
Financial Liabilities:
Total long-term debt		8,887
Estimate of Fair Value Measurement [Member] | 3.95% Promissory Note [Member] | (Level 3) [Member]
Financial Liabilities:
Total long-term debt		$ 8,887

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Fair Value Information for Financial Assets and Liabilities Carried on Balance Sheet (Parenthetical) (Detail)	Mar. 31, 2020	Dec. 31, 2019
4.25% Convertible Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.25%
3.90% Promissory Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	3.90%
4% Promissory Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.00%
4.55% Promissory Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.55%
Estimate of Fair Value Measurement [Member] | 4.25% Convertible Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.25%	4.25%
Estimate of Fair Value Measurement [Member] | 3.90% Promissory Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	3.90%
Estimate of Fair Value Measurement [Member] | 4% Promissory Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.00%	4.00%
Estimate of Fair Value Measurement [Member] | 3.75% Callable Promissory Note
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	3.75%	3.75%
Estimate of Fair Value Measurement [Member] | 4.55% Promissory Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.55%	4.55%
Estimate of Fair Value Measurement [Member] | 3.95% Promissory Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate		3.95%
Carrying Value [Member] | 4.25% Convertible Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.25%	4.25%
Carrying Value [Member] | 3.90% Promissory Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	3.90%
Carrying Value [Member] | 4% Promissory Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.00%	4.00%
Carrying Value [Member] | 3.75% Callable Promissory Note
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	3.75%	3.75%
Carrying Value [Member] | 4.55% Promissory Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate	4.55%	4.55%
Carrying Value [Member] | 3.95% Promissory Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument stated interest rate		3.95%

Other Assets - Summary of Other

Other Assets - Summary of Other Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Benefits receivable related to retrospective reinsurance contract	$ 12,000	$ 9,480
Prepaid expenses	2,094	2,107
Deposits	1,493	1,678
Lease acquisition costs, net	541	566
Other	3,841	3,249
Total other assets	$ 19,969	$ 17,080

Revolving Credit Facility - Add

Revolving Credit Facility - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Line of Credit Facility [Line Items]
Interest expense for revolving credit facility	$ 2,970	$ 4,337
Long-term Line of Credit	23,750		$ 9,750
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Additional borrowings from revolving credit facility	14,000
Interest expense for revolving credit facility	153	69
Amortization of Debt Issuance Costs	39	$ 39
Long-term Line of Credit	$ 23,750

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total principal amount	$ 174,535	$ 173,695
Finance lease liabilities	56	60
Less: unamortized discount and issuance costs	(9,119)	(10,000)
Total long-term debt	165,416	163,695
4.25% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Total principal amount	143,750	143,750
3.95% Promissory Note [Member]
Debt Instrument [Line Items]
Total principal amount		8,881
4% Promissory Note [Member]
Debt Instrument [Line Items]
Total principal amount	7,214	7,345
3.75% Callable Promissory Note [Member]
Debt Instrument [Line Items]
Total principal amount	7,869	7,955
4.55% Promissory note [Member]
Debt Instrument [Line Items]
Total principal amount	5,646	$ 5,704
3.90% Promissory Note [Member]
Debt Instrument [Line Items]
Total principal amount	$ 10,000

Long-Term Debt - Summary of L_2

Long-Term Debt - Summary of Long-Term Debt (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2020	Feb. 29, 2020
4.25% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	4.25%
Debt instrument, maturity date	Mar. 1, 2037
3.95% Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	3.95%	3.95%
Debt instrument, maturity date	Feb. 17, 2020
4% Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	4.00%
Debt instrument, maturity date	Feb. 1, 2031
3.75% Callable Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	3.75%
Debt instrument, maturity date	Sep. 1, 2036
4.55% Promissory note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	4.55%
Debt instrument, maturity date	Aug. 1, 2036
3.90% Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	3.90%
Debt instrument, maturity date	Apr. 1, 2032
Finance Lease Liabilities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Aug. 15, 2023

Long-Term Debt (Convertible Sen

Long-Term Debt (Convertible Senior Notes) - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020$ / shares	Mar. 31, 2019$ / shares
Debt Instrument [Line Items]
Cash dividends on common stock	$ 0.40	$ 0.40
4.25% Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	4.25%
Convertible debt, conversion ratio	16.3843
Convertible debt, conversion price	$ 61.03
Debt discount, remaining amortization period	1 year 10 months 24 days
4.25% Convertible Senior Notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Cash dividends on common stock	$ 0.35

Long-Term Debt - Summary of Fut

Long-Term Debt - Summary of Future Maturities of Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Long Term Debt Rolling Maturity [Abstract]
Due in 12 months following March 31, 2020	$ 1,452
2021	145,289
2022	1,598
2023	1,654
2024	1,715
Thereafter	22,827
Total	$ 174,535	$ 173,695

Long-Term Debt - Schedule of In

Long-Term Debt - Schedule of Interest Expense Related to Long-Term Debt (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Interest Expense Debt [Abstract]
Contractual interest	$ 1,806	$ 2,557
Non-cash expense	1,052	1,790
Capitalized interest	(41)	(79)
Total	$ 2,817	$ 4,268

Long-Term Debt (3.95% Promissor

Long-Term Debt (3.95% Promissory Note) - Additional Information (Detail)	Mar. 31, 2020	Feb. 29, 2020
3.95% Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument stated interest rate	3.95%	3.95%

Long-Term Debt (3.90% Promissor

Long-Term Debt (3.90% Promissory Note) - Additional Information (Detail) $ in Thousands	Mar. 19, 2020	Feb. 28, 2020USD ($)	Mar. 31, 2020USD ($)
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt			$ 10,000
3.90% Promissory Note [Member]
Debt Instrument [Line Items]
Fixed interest rate			3.90%
Outstanding principal and interest payment due date			Apr. 1, 2032
American Equity Investment Life Insurance Company [Member] | 3.90% Promissory Note [Member]
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt		$ 10,000
Fixed interest rate		3.90%
Debt instrument frequency of periodic payment		monthly
Debt instrument periodic payment		$ 60
Number of installment payments		143
Date of initial payment		Apr. 1, 2020
Debt instrument, balloon payment to be paid		$ 5,007
Outstanding principal and interest payment due date		Mar. 1, 2032
Debt instruments, payment terms description		The promissory note may be repaid in full at any time as long as the Company provides at least 60 days’ written notice and pays a prepayment premium and processing fee.
Revised date of initial payment	May 1, 2020
Outstanding principal and interest payment revised due date	Apr. 1, 2032

Reinsurance - Additional Inform

Reinsurance - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)Reinsurer	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)Reinsurer
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Percentage of ceding commission on ceded premiums written	30.00%
Reinsurance recoverable	$ 118,132		$ 132,678
Number of reinsurers | Reinsurer	31		31
Ceded losses recognized as a reduction in losses and loss adjustment expenses	$ 338	$ 0
Decrease in credit loss expense	24	0
Allowances for credit losses related to the reinsurance recoverable balance	429		$ 0
Reduction in premiums ceded	2,520
Net reduction in premiums ceded		$ 512
Other assets	19,969		17,080
Reinsurance [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Other assets	$ 12,000		$ 9,480
Reinsurance Recoverable [Member] | Reinsurer Concentration Risk [Member] | Florida Hurricane Catastrophe Fund [Member]
Reinsurance Premiums For Insurance Companies By Product Segment [Line Items]
Percentage of reinsurance recoverable major reinsurers	61.10%

Reinsurance - Impact of the Rei

Reinsurance - Impact of the Reinsurance Treaties on Premiums Written and Earned (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Premiums Written:
Direct	$ 76,572	$ 67,612
Assumed	(54)	(2)
Gross written	76,518	67,610
Ceded	(30,719)	(31,413)
Net premiums written	45,799	36,197
Premiums Earned:
Direct	90,767	82,599
Assumed	1,598	(2)
Gross earned	92,365	82,597
Ceded	(30,719)	(31,413)
Net premiums earned	$ 61,646	$ 51,184

Losses and Loss Adjustment Ex_3

Losses and Loss Adjustment Expenses - Losses and LAE (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Liability For Unpaid Claims And Claims Adjustment Expense Net [Abstract]
Net balance, beginning of period*	$ 98,174	$ 94,826
Incurred, net of reinsurance, related to:
Current period	25,803	24,321
Prior period	2,275	2,675
Total incurred, net of reinsurance	28,078	26,996
Paid, net of reinsurance, related to:
Current period	(4,484)	(3,930)
Prior period	(15,892)	(19,439)
Total paid, net of reinsurance	(20,376)	(23,369)
Net balance, end of period	105,876	98,453
Add: reinsurance recoverable before allowance for credit losses	101,232	86,208
Gross balance, end of period	$ 207,108	$ 184,661	$ 214,697

Losses and Loss Adjustment Ex_4

Losses and Loss Adjustment Expenses - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Reserves For Losses And Loss Adjustment Expenses [Line Items]
Unpaid claims and claim adjustment expenses overall development	$ 2,275	$ 2,675
Accidental Year 2019 and Prior [Member]
Reserves For Losses And Loss Adjustment Expenses [Line Items]
Unpaid claims and claim adjustment expenses overall development	$ 2,275

Segment Information - Additiona

Segment Information - Additional Information (Detail) - Segment	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Number of operating divisions	3
Sales Revenue, Net [Member] | Segment Concentration Risk [Member] | Insurance Operations [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	94.20%	94.50%
Assets [Member] | Segment Concentration Risk [Member] | Insurance Operations [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	85.40%		85.50%

Segment Information - Summary o

Segment Information - Summary of Segment Information Reconciled to Consolidated Statements of Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue:
Net premiums earned	$ 61,646	$ 51,184
Net investment income (loss)	(192)	3,278
Net realized investment gains (losses)	(2,244)	(372)
Net unrealized investment (losses) gains	(4,805)	5,293
Credit losses on investments	(439)	0
Policy fee income	829	795
Other	585	456
Total revenue	55,380	60,634
Expenses:
Losses and loss adjustment expenses	28,078	26,996
Amortization of deferred policy acquisition costs	10,857	8,656
Interest expense	2,970	4,337
Depreciation and amortization	477	394
Other	12,341	10,968
Total expenses	54,723	51,351
Income before income taxes	657	9,283
Operating Segments [Member] | Insurance Operations [Member]
Revenue:
Net premiums earned	61,646	51,184
Net investment income (loss)	2,333	2,628
Net realized investment gains (losses)	(1,822)	198
Net unrealized investment (losses) gains	(4,097)	4,310
Credit losses on investments	(439)
Policy fee income	829	795
Other	275	176
Total revenue	58,725	59,291
Expenses:
Losses and loss adjustment expenses	28,078	26,996
Amortization of deferred policy acquisition costs	10,857	8,656
Interest expense		1
Depreciation and amortization	31	27
Other	8,075	7,090
Total expenses	47,041	42,770
Income before income taxes	11,684	16,521
Total revenue from non-affiliates	58,725	59,291
Operating Segments [Member] | Real Estate Operations [Member]
Revenue:
Net investment income (loss)	1
Other	2,559	2,312
Total revenue	2,560	2,312
Expenses:
Interest expense	473	383
Depreciation and amortization	656	583
Other	1,251	1,108
Total expenses	2,380	2,074
Income before income taxes	180	238
Total revenue from non-affiliates	2,094	1,903
Operating Segments [Member] | Corporate and Other [Member]
Revenue:
Net investment income (loss)	(2,370)	507
Net realized investment gains (losses)	(422)	(570)
Net unrealized investment (losses) gains	(708)	983
Other	1,372	1,551
Total revenue	(2,128)	2,471
Expenses:
Interest expense	2,717	4,083
Depreciation and amortization	402	268
Other	5,960	5,596
Total expenses	9,079	9,947
Income before income taxes	(11,207)	(7,476)
Total revenue from non-affiliates	(2,626)	2,060
Intersegment Eliminations [Member]
Revenue:
Net investment income (loss)	(156)	143
Other	(3,621)	(3,583)
Total revenue	(3,777)	(3,440)
Expenses:
Interest expense	(220)	(130)
Depreciation and amortization	(612)	(484)
Other	(2,945)	(2,826)
Total expenses	$ (3,777)	$ (3,440)

Segment Information - Summary_2

Segment Information - Summary of Segment Assets Reconciled to Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Total assets	$ 836,339	$ 802,609
Consolidation, Eliminations [Member]
Segment Reporting Information [Line Items]
Total assets	(27,817)	(15,060)
Insurance Operations [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	682,466	663,280
Real Estate Operations [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	96,511	93,727
Corporate and Other [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	$ 85,179	$ 60,662

Leases - Summarizes of Right-of

Leases - Summarizes of Right-of-use Assets and Liabilities for Operating and Finance Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Operating leases:
ROU Assets	$ 410	$ 484
Liabilities	425	513
Finance leases:
ROU Assets	79	79
Liabilities	$ 56	$ 60

Leases - Summarizes the Company

Leases - Summarizes the Company's operating and finance leases in which the Company (Detail)	3 Months Ended
	Mar. 31, 2020
Office Equipment [Member]
Operating lease:
Renewal Option	Yes
Office Equipment [Member] | Minimum [Member]
Operating lease:
Initial Term	1 month
Finance lease:
Initial Term	3 years
Office Equipment [Member] | Maximum [Member]
Operating lease:
Initial Term	63 months
Finance lease:
Initial Term	5 years
Storage unit [Member]
Operating lease:
Initial Term	2 years
Renewal Option	Yes
Office space [Member]
Operating lease:
Renewal Option	Yes
Office space [Member] | Minimum [Member]
Operating lease:
Initial Term	3 years
Office space [Member] | Maximum [Member]
Operating lease:
Initial Term	10 years

Leases - Maturities of lease li

Leases - Maturities of lease liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2020	$ 318
2021	126
2022	12
Total lease payments	456
Less: interest and foreign taxes	31
Total lease obligations	425	$ 513
2020	19
2021	19
2022	15
2023	7
Total lease payments	60
Less: interest and foreign taxes	4
Total lease obligations	$ 56	$ 60

Leases -The Company's operating

Leases -The Company's operating and finance leases (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Finance lease costs:
Amortization – ROU assets	[1]	$ 4	$ 3
Interest expense		1	1
Operating lease costs	[1]	78	81
Short-term lease costs	[1]	49	45
Total lease costs		132	130
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows – finance leases		1	1
Operating cash flows – operating leases		80	78
Financing cash flows – finance leases		$ 4	$ 2
Weighted-average remaining lease term:
Finance leases (in years)		3 years 2 months 12 days
Operating leases (in years)		1 year 6 months
Weighted-average discount rate:
Finance leases		3.70%
Operating leases		4.00%
[1]	Included in other operating expenses of the consolidated statement of income.

Leases - Summarizes the Compa_2

Leases - Summarizes the Company's operating leases (Detail)	3 Months Ended
	Mar. 31, 2020
Office space [Member]
Operating lease:
Renewal Option	Yes
Office space [Member] | Minimum [Member]
Operating lease:
Initial Term	1 year
Office space [Member] | Maximum [Member]
Operating lease:
Initial Term	3 years
Retail space [Member]
Operating lease:
Renewal Option	Yes
Retail space [Member] | Minimum [Member]
Operating lease:
Initial Term	3 years
Retail space [Member] | Maximum [Member]
Operating lease:
Initial Term	20 years
Boat docks/wet slips [Member]
Operating lease:
Renewal Option	Yes
Boat docks/wet slips [Member] | Minimum [Member]
Operating lease:
Initial Term	1 month
Boat docks/wet slips [Member] | Maximum [Member]
Operating lease:
Initial Term	12 months

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 110	$ 2,545
Effective tax rate	16.70%	27.40%

Earnings Per Share - Summary of

Earnings Per Share - Summary of Numerator and Denominator of Basic and Fully Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income	$ 547	$ 6,738
Less: Income attributable to participating securities	(13)	(408)
Basic Earnings Per Share:
Income allocated to common stockholders, Income (Numerator)	$ 534	$ 6,330
Income allocated to common stockholders, Shares (Denominator)	7,369	7,736
Income allocated to common stockholders, Per Share Amount	$ 0.07	$ 0.82
Diluted Earnings Per Share:
Income available to common stockholders and assumed conversions, Income (Numerator)	$ 534	$ 6,330
Income available to common stockholders and assumed conversions, Shares (Denominator)	7,378	7,755
Income available to common stockholders and assumed conversions, Per Share Amount	$ 0.07	$ 0.82
Stock Options [Member]
Effect of Dilutive Securities:
Dilutive Securities, Shares (Denominator)	9	19

Stockholders' Equity (Common St

Stockholders' Equity (Common Stock) - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Jan. 21, 2020	Dec. 19, 2019	Mar. 31, 2020	Mar. 31, 2019	Mar. 13, 2020
Class of Stock [Line Items]
Stock repurchased and retired, total costs			$ 17	$ 18
Dividends per common share	$ 0.40
Dividends, date of record	Feb. 21, 2020
Dividends. date of payable	Mar. 20, 2020
Share Repurchase Plan [Member]
Class of Stock [Line Items]
Repurchase plan expiration date		Mar. 15, 2020
Common stock repurchase authorized amount					$ 20,000
Common stock repurchased and retired, weighted average price, excluding fees and commissions			$ 39.55	$ 42.06
Stock repurchased and retired, total costs			$ 3,041	$ 1,338
Common stock repurchased and retired, weighted average price, including fees and commissions			$ 39.58	$ 42.09
Common Stock [Member]
Class of Stock [Line Items]
Repurchase and retirement of common stock, shares			371	371
Common Stock [Member] | Share Repurchase Plan [Member]
Class of Stock [Line Items]
Repurchase and retirement of common stock, shares			76,851	31,789

Stock-Based Compensation (Incen

Stock-Based Compensation (Incentive Plans) - Additional Information (Detail)	Mar. 31, 2020shares
Omnibus Incentive Plan New Plan 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares available for grant	1,613,942

Stock-Based Compensation (Stock

Stock-Based Compensation (Stock Options) - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options exercisable contractual term	10 years
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized compensation expenses	$ 283	$ 205
Deferred tax benefits recognized	19	$ 19
Unrecognized compensation expense related to nonvested stock options	$ 2,785		$ 1,835
Recognition of remaining compensation expense over a weighted-average period	2 years 10 months 24 days
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options maximum vesting period	5 years

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Company's Stock Option Plan Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Roll Forward
Outstanding, Beginning Balance, Number of Options	340,000	240,000	240,000
Granted, Number of options	110,000	110,000
Exercised, Number of Options	(10,000)
Outstanding, Ending Balance, Number of Options	440,000	350,000	340,000	240,000
Exercisable, Number of Options	165,000	102,500
Outstanding, Beginning Balance, Weighted Average Exercise Price	$ 43.21	$ 37.19	$ 37.19
Granted, Weighted Average Exercise Price	48	53
Exercised, Weighted Average Exercise Price	6.30
Outstanding, Ending Balance, Weighted Average Exercise Price	45.25	42.16	$ 43.21	$ 37.19
Exercisable, Weighted-Average Exercise Price	$ 42.17	$ 33.42
Outstanding, Weighted-Average Remaining Contractual Term	8 years 3 months 18 days	8 years 6 months	7 years 10 months 24 days	8 years 9 months 18 days
Exercisable, Weighted-Average Remaining Contractual Term	7 years 6 months	7 years
Outstanding, Aggregate Intrinsic Value		$ 1,329	$ 1,657	$ 3,278
Exercisable, Aggregate Intrinsic Value		$ 954

Stock-Based Compensation - Info

Stock-Based Compensation - Information about Options Exercised (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)shares
Share Based Compensation Arrangement By Share Based Payment Award Options Activity [Abstract]
Options exercised | shares	10,000
Total intrinsic value of exercised options	$ 288
Tax benefits realized	$ 71

Stock-Based Compensation - Assu

Stock-Based Compensation - Assumptions Used to Estimate the Fair Value of Stock Options Granted (Detail)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Expected dividend yield	3.48%	3.34%
Expected volatility	38.68%	40.17%
Risk-free interest rate	1.63%	2.53%
Expected life (in years)	5 years	5 years

Stock Based Compensation - Info

Stock Based Compensation - Information with Respect to Unvested Restricted Stock Awards Stock Option and Incentive Plan (Detail) - Restricted Stock [Member] - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance, shares	396,760	632,296
Granted, Number of Restricted Stock Awards	45,000	40,000
Vested, Number of Restricted Stock Awards	(31,250)	(21,250)
Forfeited, Number of Restricted Stock Awards	(7,138)	(4,681)
Ending balance, shares	403,372	646,365
Nonvested, Weighted-Average Grant Date Fair Value, Beginning balance	$ 41.71	$ 33.33
Granted, Weighted-Average Grant Date Fair Value	44.97	47.94
Vested, Weighted-Average Grant Date Fair Value	40.97	37.69
Forfeited, Weighted-Average Grant Date Fair Value	42.60	42.79
Nonvested, Weighted-Average Grant Date Fair Value, Ending balance	$ 42.12	$ 34.03

Stock-Based Compensation (Restr

Stock-Based Compensation (Restricted Stock Awards) - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Declared dividends charged to earnings		$ 114
Other Operating Income (Expense) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Declared dividends charged to earnings		29
General and Administrative Personnel Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Declared dividends charged to earnings		85
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized compensation expenses	$ 1,558	$ 1,254
Total unrecognized compensation expense, Nonvested restricted stock arrangements granted	$ 12,822		$ 12,661
Recognition of remaining compensation expense over a weighted-average period	2 years 4 months 24 days

Stock-Based Compensation - In_2

Stock-Based Compensation - Information about Deferred Tax Benefits Recognized Related to Restricted Stock Awards, Paid Dividends and the Fair Value of Vested Restricted Stock (Detail) - Restricted Stock [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred tax benefits recognized	$ 284	$ 246
Tax benefits realized for restricted stock and paid dividends	53	61
Fair value of vested restricted stock	$ 1,280	$ 801

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)Contract	Dec. 31, 2019USD ($)
Commitments And Contingencies Disclosure [Abstract]
Number of multi year reinsurance contracts | Contract	1
Due in April 2020	$ 1,034
Contractual obligation payments due month and year	2020-04
Contact expiration date	Jun. 30, 2020
Unfunded Balance	$ 14,211	$ 15,130

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail)	Apr. 13, 2020$ / shares	Apr. 09, 2020USD ($)	Apr. 02, 2020USD ($)	Feb. 12, 2020	Jan. 21, 2020$ / shares	Mar. 31, 2020USD ($)	Apr. 01, 2020Policy	Dec. 31, 2019USD ($)
Subsequent Event [Line Items]
Dividends per common share | $ / shares					$ 0.40
Dividends, date of record					Feb. 21, 2020
Dividends. date of payable					Mar. 20, 2020
Impairment loss						$ 0
Advance premiums						44,545,000		$ 5,589,000
Policy Replacement Agreement | HCPCI [Member]
Subsequent Event [Line Items]
Advance premiums						$ 30,000
Policy Replacement Agreement | Anchor [Member]
Subsequent Event [Line Items]
Agreement entered date				Feb. 12, 2020
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends per common share | $ / shares	$ 0.40
Dividends. date of declared	Apr. 13, 2020
Dividends, date of record	May 15, 2020
Dividends. date of payable	Jun. 19, 2020
Subsequent Event [Member] | Policy Replacement Agreement | HCPCI [Member]
Subsequent Event [Line Items]
Number of short term replacement policies issued | Policy							41,000
Subsequent Event [Member] | Greenleaf Capital, LLC [Member]
Subsequent Event [Line Items]
Impairment loss		$ 0
Subsequent Event [Member] | Greenleaf Capital, LLC [Member] | Tampa-Coconut Palms Office Building Exchange, LLC [Member] | Tampa, Florida [Member]
Subsequent Event [Line Items]
Purchase price for office building			$ 4,000,000