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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ (12,526) $ (6,321)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Realized (gains) losses on sale of investments and other assets (669) (3,164)
Net deferred policy acquisition cost 5,308 4,819
Amortization of cost of customer relationships acquired 1,228 1,192
Depreciation 771 1,269
Amortization of premiums and discounts on investments 6,616 10,422
Stock-based compensation 2,020 1,930
Deferred federal income tax expense (benefit) (386) 560
Change in:    
Accrued investment income 1,133 819
Reinsurance recoverable (8,274) 68
Due premiums 1,434 2,588
Future policy benefit reserves 21,654 27,994
Other policyholders' liabilities 15,364 2,309
Federal income tax receivable 3,165 6,580
Commissions payable and other liabilities 145 1,699
Other, net (2,967) (1,851)
Net cash provided by operating activities 34,016 50,913
Cash flows from investing activities:    
Purchase of fixed maturities, available-for-sale (187,267) (210,445)
Sale of fixed maturities, available-for-sale 17,524 39,708
Maturities and calls of fixed maturities, available-for-sale 154,873 111,757
Purchases of equity securities (4,473) 0
Principal payments on mortgage loans 9 6
Increase in policy loans, net (1,957) (1,141)
Sale of other long-term investments and real estate 0 6,981
Purchases of other long-term investments (19,115) 0
Sales of property and equipment 0 15
Purchase of property and equipment (124) (509)
Maturity of short-term investments 1,300 7,940
Purchase of short-term investments 0 (2,456)
Net cash used in investing activities (39,230) (48,144)
Cash flows from financing activities:    
Annuity deposits 5,542 4,948
Annuity withdrawals (3,403) (5,685)
Other (869) (377)
Net cash provided by financing activities 1,270 (1,114)
Net increase (decrease) in cash and cash equivalents (3,944) 1,655
Cash and cash equivalents at beginning of year 46,205 45,492
Cash and cash equivalents at end of period $ 42,261 $ 47,147