Statutory Accounting and Regulation (Tables)

3 Months Ended

Mar. 31, 2018

For the three months ended March 31, 2018 and 2017, UPC, ACIC, FSIC and IIC recorded the following amounts of statutory net income (loss).



	Three Months Ended March 31,
	2018			2017
UPC	$	(22	)	$	(6,039	)
ACIC ⁽¹⁾	$	5,852		N/A
FSIC	$	2,798		$	2,937
IIC	$	358		2,079

⁽¹⁾ There is not a reportable value for ACIC for the three months ended March 31, 2017, as we did not own the company until April 2017.

Our insurance subsidiaries must maintain capital and surplus ratios or balances as determined by the regulatory authority of the states in which they are domiciled. The table below shows the minimum capital and surplus requirements, as well as the amount of surplus as regards policyholders for our regulated entities at March 31, 2018 and December 31, 2017, respectively.



	Minimum Requirement		March 31, 2018		December 31, 2017
UPC ⁽¹⁾	$	43,448	$	167,127	$	164,281
ACIC ⁽¹⁾	$	16,168	$	166,988	$	160,238
FSIC	$	3,250	$	25,019	$	22,038
IIC	$	4,700	$	43,190	$	42,827

⁽¹⁾ UPC and ACIC are required to maintain capital and surplus equal to the greater of 10% of their total liabilities or $10,000,000

- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

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