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Policy Claims and Other Benefits Payable (Tables)
12 Months Ended
Dec. 31, 2023
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]  
Schedule of Liability For Future Policy Benefits and Unpaid Claims

Changes in policy claims and other benefits payable were as follows:

 

 

 

Year ended December 31,

 

 

 

2023

 

 

2022

 

 

 

(In thousands)

 

Policy claims and other benefits payable, beginning of period

 

$

538,250

 

 

$

585,382

 

Less reinsured policy claims and other benefits payable

 

 

542,621

 

 

 

637,139

 

Net balance, beginning of period

 

 

(4,371

)

 

 

(51,757

)

Incurred related to current year

 

 

253,607

 

 

 

248,127

 

Incurred related to prior years (1)

 

 

(3,856

)

 

 

(4,363

)

Total incurred

 

 

249,751

 

 

 

243,764

 

Claims paid related to current year, net of reinsured policy claims received

 

 

(283,808

)

 

 

(263,114

)

Reinsured policy claims received related to prior years, net of claims paid

 

 

18,119

 

 

 

67,267

 

Total paid

 

 

(265,689

)

 

 

(195,847

)

Foreign currency translation

 

 

250

 

 

 

(531

)

Net balance, end of period

 

 

(20,059

)

 

 

(4,371

)

Add reinsured policy claims and other benefits payable

 

 

533,862

 

 

 

542,621

 

Balance, end of period

 

$

513,803

 

 

$

538,250

 

 

 

(1)
Includes the difference between our estimate of claims incurred but not yet reported at year end and the actual incurred claims reported after year end.