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Related Party Transactions
12 Months Ended
Dec. 31, 2018
Related Party Transactions [Abstract]  
Related Party Transactions

16. Related Party Transactions

All the outstanding shares of Americana and FED Mutual Financial Services, Inc. are owned by Federal Life. Federal Life is owned by FEDHO Holding Company which is owned by Federal Life Holding Company which is owned by Federal Life Group.

During 2018 and 2017, Americana paid $0.5 million and $1.4 million, respectively, in common stock dividends to Federal Life. As of December 31, 2018 and 2017, Americana reported $0.1 million and $41,000, respectively, as dividends due to its parent company, Federal Life. This amount is generally settled within 60 days. Federal Life received $12.5 million in paid-in surplus from parent after the IPO was completed on December 11, 2018. Federal Life distributed $3.05 million in dividends to FEDHO Holding Company on September 6, 2017, which was immediately contributed back to Federal Life as paid-in and contributed surplus. In both 2018 and 2017, Federal Life Holding Company paid $20,000 in interest to Federal Life on the Guaranty Fund Note that was issued in 2016. Federal Life provides financial support for Fed Mutual Financial Services, Inc. to continue its operations. All related party transactions eliminate in consolidation.

The promissory note described in Note 15, above, converted into shares of the Company which were issued to ICG on December 11, 2018. As a result, ICG is a controlling shareholder of the Company.