Assets and Liabilities Measured at Fair Value (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Summary of Assets Carried at Fair Value on Recurring and Non-recurring Basis

The Company’s assets that are carried at fair value on a recurring and non-recurring basis, by fair value hierarchy level, are as follows:

June 30, 2022	Level 1		Level 2		Level 3		Total Fair Value
Recurring fair value measurements
Financial instruments recorded as assets:
Fixed maturities
U.S. government and agencies	$	—	$	9,823	$	—	$	9,823
U.S. agency mortgage-backed		—		8,071		—		8,071
State and political subdivisions		—		49,248		457		49,705
Corporate and miscellaneous		2,637		130,772		27,926		161,335
Foreign government		—		136		—		136
Residential mortgage-backed		—		5,519		—		5,519
Commercial mortgage-backed		—		19,174		—		19,174
Asset-backed		—		41,737		2,878		44,615
Total fixed maturities		2,637		264,480		31,261		298,378
Total recurring assets	$	2,637	$	264,480	$	31,261	$	298,378

December 31, 2021	Level 1		Level 2		Level 3		Total Fair Value
Recurring fair value measurements
Financial instruments recorded as assets:
Fixed maturities
U.S. government and agencies	$	—	$	11,901	$	—	$	11,901
U.S. agency mortgage-backed		—		13,679		—		13,679
State and political subdivisions		—		59,972		498		60,470
Corporate and miscellaneous		2,821		156,937		24,740		184,498
Foreign government		—		414		—		414
Residential mortgage-backed		—		6,069		—		6,069
Commercial mortgage-backed		—		20,815		—		20,815
Asset-backed		—		51,699		2,838		54,537
Total fixed maturities		2,821		321,486		28,076		352,383
Total recurring assets	$	2,821	$	321,486	$	28,076	$	352,383

Summary of Changes in Fair Value of Level 3 Assets Held at Fair Value on Recurring Basis

A summary of changes in fair value of Level 3 assets held at fair value on a recurring basis is as follows:

			Total gains (losses) included in:
	Balance at January 1, 2022		Net Income (loss)		OCI			Purchases		Sales			Settlements			Net Transfers		Balance at June 30, 2022
Financial Assets
Fixed maturities
State and political subdivision	$	498	$	—	$	(41	)	$	—	$	—		$	—		$	—	$	457
Corporate and miscellaneous		24,740		554		(306	)		1,086		(27	)		(1,005	)		2,884		27,926
Asset-backed		2,838		10		(170	)		129		(655	)		(228	)		954		2,878
Total assets	$	28,076	$	564	$	(517	)	$	1,215	$	(682	)	$	(1,233	)	$	3,838	$	31,261

			Total gains (losses) included in:
	Balance at January 1, 2021		Net Income			OCI			Purchases		Sales		Settlements			Net Transfers			Balance at December 31, 2021
Financial Assets
Fixed maturities
State and political subdivisions	$	521	$	—		$	(23	)	$	—	$	—	$	—		$	—		$	498
Corporate and miscellaneous		8,433		(39	)		—			18,873		—		(14	)		(2,513	)		24,740
Asset-backed		1,301		—			(2	)		1,290		—		(251	)		500			2,838
Total assets	$	10,255	$	(39	)	$	(25	)	$	20,163	$	—	$	(265	)	$	(2,013	)	$	28,076

Summary of Carrying Amount and Estimated Fair Values of Financial Instruments not Measured at Fair Value

The carrying amount and estimated fair values of the Company’s financial instruments that are not measured at fair value on the Interim Condensed Consolidated Balance Sheets are as follows:

			Estimated Fair Value
June 30, 2022	Carrying Value		Level 1		Level 2		Level 3		Total
Financial instruments recorded as assets:
Mortgage loans	$	47,547	$	—	$	—	$	43,987	$	43,987
Policyholder loans		6,600		—		—		8,579		8,579
Financial instruments recorded    as liabilities:
Future policy benefits, excluding term    life reserves	$	18,117	$	—	$	—	$	16,286	$	16,286
Long/short-term debt		32,997		—		—		34,093		34,093
Policyholder account balances		79,286		—		—		74,396		74,396

			Estimated Fair Value
December 31, 2021	Carrying Value		Level 1		Level 2		Level 3		Total
Financial instruments recorded as assets:
Mortgage loans	$	47,487	$	—	$	—	$	43,047	$	43,047
Policyholder loans		6,371		—		—		8,280		8,280
Financial instruments recorded    as liabilities:
Future policy benefits, excluding term    life reserves	$	22,680	$	—	$	—	$	19,733	$	19,733
Long/short-term debt		26,378		—		—		31,940		31,940
Policyholder account balances		80,494		—		—		86,198		86,198