Segment and Geographical Information (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Summary of Assets and Profit or Loss by Segment

Notable information included in profit or loss by segment was as follows:

	Three months ended June 30,						Six months ended June 30,
	2024			2023			2024			2023
	(In thousands)
Revenues:
Term life insurance segment	$	426,944		$	411,873		$	867,357		$	832,943
Investment and savings products segment		260,906			214,509			504,622			424,711
Senior health segment		12,420			14,890			19,300			33,599
Corporate and other distributed products segment		103,105			47,113			154,925			87,169
Total revenues	$	803,375		$	688,385		$	1,546,204		$	1,378,422
Net investment income:
Term life insurance segment	$	-		$	-		$	-		$	-
Investment and savings products segment		-			-			-			-
Senior health segment		-			-			-			-
Corporate and other distributed products segment		38,452			32,398			76,258			63,462
Total net investment income	$	38,452		$	32,398		$	76,258		$	63,462
Amortization of DAC:
Term life insurance segment	$	71,916		$	66,004		$	142,407		$	132,072
Investment and savings products segment		1,478			1,409			2,679			2,901
Senior health segment		-			-			-			-
Corporate and other distributed products segment		249			697			606			1,060
Total amortization of DAC	$	73,643		$	68,110		$	145,692		$	136,033
Non-cash share-based compensation expense:
Term life insurance segment	$	954		$	726		$	3,096		$	2,576
Investment and savings products segment		715			666			1,754			1,658
Senior health segment		195			171			295			330
Corporate and other distributed products segment		1,189			895			10,523			9,967
Total non-cash share-based compensation expense	$	3,053		$	2,458		$	15,668		$	14,531
Income (loss) before income taxes:
Term life insurance segment	$	147,779		$	140,113		$	286,148		$	270,654
Investment and savings products segment		74,782			59,583			140,345			115,691
Senior health segment		(264,972	)		(6,032	)		(279,125	)		(9,795	)
Corporate and other distributed products segment		50,208			(4,768	)		39,664			(20,712	)
Total income before income taxes	$	7,797		$	188,896		$	187,032		$	355,838

Total Assets by Segment

Total assets by segment were as follows:

	June 30, 2024		December 31, 2023
	(In thousands)
Assets:
Term life insurance segment	$	6,486,934	$	6,543,923
Investment and savings products segment (1)		2,410,463		2,537,079
Senior health segment		144,227		419,110
Corporate and other distributed products segment		5,524,080		5,527,620
Total assets	$	14,565,704	$	15,027,732

(1)The Investment and Savings Products segment includes assets held in separate accounts. Excluding separate accounts, the Investment and Savings Products segment assets were $156.5 million and $141.3 million as of June 30, 2024 and December 31, 2023, respectively.

Long Lived Assets and Continuing Operations by Country

Geographical Information. Results of operations by country and long-lived assets – primarily tangible assets reported in other assets in our unaudited condensed consolidated balance sheets – were as follows:

	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
	(In thousands)
Revenues by country:
United States	$	707,697	$	602,132	$	1,355,039	$	1,205,982
Canada		95,678		86,253		191,165		172,440
Total revenues	$	803,375	$	688,385	$	1,546,204	$	1,378,422

	June 30, 2024		December 31, 2023
	(In thousands)
Long-lived assets by country:
United States	$	37,724	$	35,434
Canada		2,409		2,636
Other		185		197
Total long-lived assets	$	40,318	$	38,267