XML 26 R6.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income (loss) $ (10,988) $ (1,370) $ (11,062)
Adjustments to reconcile net income to net cash provided by operating activities:      
Realized gains on sale of investments and other assets (1,502) (5,249) (108)
Net deferred policy acquisition costs (6,964) (6,013) (11,540)
Amortization of cost of customer relationships acquired 1,816 1,546 2,458
Depreciation 1,423 1,677 1,451
Amortization of premiums and discounts on investments 8,061 12,859 16,998
Stock-based compensation 2,223 2,099 410
Deferred federal income tax expense (benefit) (402) 1,573 62,633
Change in:      
Accrued investment income 1,316 1,014 595
Reinsurance recoverable (2,057) (32) 51
Due premiums 1,347 669 (560)
Future policy benefit reserves 29,650 41,479 48,496
Other policyholders' liabilities 11,030 5,387 940
Federal income tax receivable (706) 3,341 (52,079)
Commissions payable and other liabilities 3,702 2,924 3,609
Other, net (3,043) (1,707) (752)
Net cash provided by operating activities 48,834 72,223 84,620
Cash flows from investing activities:      
Sale of fixed maturities, available-for-sale 20,537 66,900 38,823
Maturities and calls of fixed maturities, available-for-sale 220,397 181,618 65,906
Maturities and calls of fixed maturities, held-to-maturity 0 0 20,699
Purchase of fixed maturities, available-for-sale (271,474) (329,627) (195,001)
Principal payments on mortgage loans 9 9 9
Increase in policy loans, net (1,313) (1,180) (7,090)
Sale of other long-term investments 3,671 6,983 14
Purchase of other long-term investments and real estate (30,256) (187) 0
Purchase of property and equipment (221) (511) (724)
Sale of property and equipment 11 16 89
Maturity of short-term investments 1,300 9,090 0
Purchase of short-term investments 0 (2,456) (7,850)
Net cash used in investing activities (61,812) (69,345) (85,134)
Cash flows from financing activities:      
Annuity deposits 7,532 6,717 7,265
Annuity withdrawals (5,759) (8,505) (7,323)
Other financing activities (869) (377) 0
Net cash provided by financing activities 904 (2,165) (58)
Net increase (decrease) in cash and cash equivalents (12,074) 713 (572)
Cash and cash equivalents at beginning of year 46,205 45,492 46,064
Cash and cash equivalents at end of year 34,131 46,205 45,492
Cash paid during the year for income taxes 0 2,200 2,510
Equity Securities [Member]      
Purchases of equity securities $ 4,473 $ 0 $ 9