XML 36 R26.htm IDEA: XBRL DOCUMENT v3.22.2.2
Business Segments (Tables)
6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Schedule of Segment Information

The segment results are as follows:

 

 

 

Three Months Ended June 30, 2022

 

 

Three Months Ended June 30, 2021

 

 

 

 

Insurance

 

 

Agency

 

 

Corporate & Other

 

 

Total
Consolidated

 

 

Insurance

 

 

Agency

 

 

Corporate & Other

 

 

Total
Consolidated

 

 

Net insurance premiums

 

$

26,846

 

 

$

—

 

 

$

—

 

 

$

26,846

 

 

$

25,433

 

 

$

—

 

 

$

—

 

 

$

25,433

 

 

Net investment income

 

 

3,720

 

 

 

—

 

 

 

78

 

 

 

3,798

 

 

 

3,551

 

 

 

—

 

 

 

59

 

 

 

3,610

 

 

Net gains (losses) on investments

 

 

(54

)

 

 

—

 

 

 

165

 

 

 

111

 

 

 

1,102

 

 

 

—

 

 

 

195

 

 

 

1,297

 

 

Other-than-temporary-impairments

 

 

(1

)

 

 

—

 

 

 

—

 

 

 

(1

)

 

 

(1

)

 

 

—

 

 

 

—

 

 

 

(1

)

 

Earned commissions

 

 

—

 

 

 

10,587

 

 

 

(99

)

 

 

10,488

 

 

 

—

 

 

 

12,414

 

 

 

(606

)

 

 

11,808

 

 

Other income

 

 

213

 

 

 

1,276

 

 

 

—

 

 

 

1,489

 

 

 

63

 

 

 

1,758

 

 

 

—

 

 

 

1,821

 

 

Total revenues

 

 

30,724

 

 

 

11,863

 

 

 

144

 

 

 

42,731

 

 

 

30,148

 

 

 

14,172

 

 

 

(352

)

 

 

43,968

 

 

Life, annuity, and health claim benefits

 

 

16,046

 

 

 

—

 

 

 

—

 

 

 

16,046

 

 

 

18,181

 

 

 

—

 

 

 

—

 

 

 

18,181

 

 

Operating costs and expenses

 

 

9,270

 

 

 

13,720

 

 

 

1,582

 

 

 

24,572

 

 

 

5,875

 

 

 

14,276

 

 

 

2,597

 

 

 

22,748

 

 

Amortization of deferred policy acquisition
   costs

 

 

4,239

 

 

 

—

 

 

 

—

 

 

 

4,239

 

 

 

3,938

 

 

 

—

 

 

 

—

 

 

 

3,938

 

 

Total benefits and expenses

 

 

29,555

 

 

 

13,720

 

 

 

1,582

 

 

 

44,857

 

 

 

27,994

 

 

 

14,276

 

 

 

2,597

 

 

 

44,867

 

 

(Loss) income before income tax

 

$

1,169

 

 

$

(1,857

)

 

$

(1,438

)

 

$

(2,126

)

 

$

2,154

 

 

$

(104

)

 

$

(2,949

)

 

$

(899

)

 

 

 

 

 

Six Months Ended June 30, 2022

 

 

Six Months Ended June 30, 2021

 

 

 

Insurance

 

 

Agency

 

 

Corporate & Other

 

 

Total
Consolidated

 

 

Insurance

 

 

Agency

 

 

Corporate & Other

 

 

Total
Consolidated

 

Net insurance premiums

 

$

49,006

 

 

$

—

 

 

$

—

 

 

$

49,006

 

 

$

50,730

 

 

$

—

 

 

$

—

 

 

$

50,730

 

Net investment income

 

 

7,055

 

 

 

—

 

 

 

209

 

 

 

7,264

 

 

 

6,759

 

 

 

—

 

 

 

105

 

 

 

6,864

 

Net gains (losses) on investments

 

 

936

 

 

 

—

 

 

 

826

 

 

 

1,762

 

 

 

2,223

 

 

 

—

 

 

 

590

 

 

 

2,813

 

Other-than-temporary-impairment

 

 

(103

)

 

 

—

 

 

 

—

 

 

 

(103

)

 

 

(3

)

 

 

—

 

 

 

—

 

 

 

(3

)

Earned commissions

 

 

—

 

 

 

21,725

 

 

 

(200

)

 

 

21,525

 

 

 

—

 

 

 

24,288

 

 

 

(1,858

)

 

 

22,430

 

Other income

 

 

275

 

 

 

2,514

 

 

 

—

 

 

 

2,789

 

 

 

137

 

 

 

3,232

 

 

 

—

 

 

 

3,369

 

Total revenues

 

 

57,169

 

 

 

24,239

 

 

 

835

 

 

 

82,243

 

 

 

59,846

 

 

 

27,520

 

 

 

(1,163

)

 

 

86,203

 

Life, annuity, and health claim benefits

 

 

31,571

 

 

 

—

 

 

 

—

 

 

 

31,571

 

 

 

40,855

 

 

 

—

 

 

 

—

 

 

 

40,855

 

Operating costs and expenses

 

 

17,187

 

 

 

28,463

 

 

 

4,076

 

 

 

49,726

 

 

 

12,166

 

 

 

28,308

 

 

 

5,602

 

 

 

46,076

 

Amortization of deferred policy
   acquisition costs

 

 

9,151

 

 

 

—

 

 

 

—

 

 

 

9,151

 

 

 

7,178

 

 

 

—

 

 

 

—

 

 

 

7,178

 

Total benefits and expenses

 

 

57,909

 

 

 

28,463

 

 

 

4,076

 

 

 

90,448

 

 

 

60,199

 

 

 

28,308

 

 

 

5,602

 

 

 

94,109

 

(Loss) income before income tax

 

$

(740

)

 

$

(4,224

)

 

$

(3,241

)

 

$

(8,205

)

 

$

(353

)

 

$

(788

)

 

$

(6,765

)

 

$

(7,906

)

 

 

 

 

June 30, 2022

 

 

December 31, 2021

 

 

 

Insurance

 

 

Agency

 

 

Corporate & Other

 

 

Total
Consolidated

 

 

Insurance

 

 

Agency

 

 

Corporate & Other

 

 

Total
Consolidated

 

Investments and cash

 

$

368,902

 

 

$

593

 

 

$

8,928

 

 

$

378,423

 

 

$

419,953

 

 

$

425

 

 

$

10,402

 

 

$

430,780

 

Commissions and agent balances

 

 

8,298

 

 

 

22,008

 

 

 

—

 

 

 

30,306

 

 

 

11,919

 

 

 

16,770

 

 

 

—

 

 

 

28,689

 

Deferred policy acquisition costs

 

 

92,393

 

 

 

—

 

 

 

—

 

 

 

92,393

 

 

 

95,715

 

 

 

—

 

 

 

—

 

 

 

95,715

 

Intangible assets

 

 

—

 

 

 

1,635

 

 

 

—

 

 

 

1,635

 

 

 

—

 

 

 

1,635

 

 

 

—

 

 

 

1,635

 

Reinsurance recoverables

 

 

202,155

 

 

 

—

 

 

 

—

 

 

 

202,155

 

 

 

184,131

 

 

 

—

 

 

 

—

 

 

 

184,131

 

Deferred income tax assets (liabilities), net

 

 

6,624

 

 

 

—

 

 

 

15,878

 

 

 

22,502

 

 

 

(4,136

)

 

 

—

 

 

 

16,836

 

 

 

12,700

 

Other

 

 

26,435

 

 

 

6,900

 

 

 

3,465

 

 

 

36,800

 

 

 

26,074

 

 

 

4,023

 

 

 

4,260

 

 

 

34,357

 

Total assets

 

$

704,807

 

 

$

31,136

 

 

$

28,271

 

 

$

764,214

 

 

$

733,656

 

 

$

22,853

 

 

$

31,498

 

 

$

788,007