Stockholders' Equity and Restrictions (Tables)

12 Months Ended

Dec. 31, 2023

Stockholders' Equity Note [Abstract]

Schedule of Stock by Class [Table Text Block]

A summary of the change in the number of shares of Class A and Class B common stock and treasury stock issued is as follows:


(In thousands)	Common Stock		Treasury
	Class A	Class B	Stock
Balance at December 31, 2020	52,654	1,002	3,136
Stock issued under stock investment plan	404	—	—
Stock issued for compensation	112	—	—

Acquisition of Class B shares	—	—	1,002

Balance at December 31, 2021	53,170	1,002	4,138
Stock issued under stock investment plan	475	—	—
Stock issued for compensation	91	—	—
Acquisition of Class A shares	—	—	799

Other share issuance	22	—	—
Balance at December 31, 2022	53,758	1,002	4,937

Stock issued for compensation	125	—	—
Acquisition of Class A shares	—	—	393


Balance at December 31, 2023	53,883	1,002	5,330

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following table sets forth the computation of basic and diluted earnings per share.


Years ended December 31, (In thousands, except per share amounts)	2023		2022	2021
Net income (loss)	$	24,437	26,007	72,706
Numerator for Basic Earnings Per Share:
Net income (loss) allocated to Class A common stock	$	24,437	26,007	72,481
Net income (loss) allocated to Class B common stock	—		—	225
Net income (loss)	$	24,437	26,007	72,706
Denominator for Basic Earnings Per Share:
Weighted average shares of Class A outstanding	49,696		50,139	49,664
Weighted average shares of Class B outstanding	—		—	308
Total weighted average shares outstanding	49,696		50,139	49,972
Basic earnings (loss) per share of Class A common stock	$	0.49	0.52	1.46
Basic earnings (loss) per share of Class B common stock	—		—	0.73

Numerator for Diluted Earnings Per Share:
Net income (loss) allocated to Class A common stock	$	24,437	26,007	72,484
Net income (loss) allocated to Class B common stock	—		—	222
Net income (loss)	$	24,437	26,007	72,706
Denominator for Diluted Earnings Per Share:
Weighted average shares of Class A outstanding	50,681		50,867	50,337
Weighted average shares of Class B outstanding	—		—	308
Total weighted average shares outstanding	50,681		50,867	50,645
Diluted earnings (loss) per share of Class A common stock	$	0.48	0.51	1.44
Diluted earnings (loss) per share of Class B common stock	—		—	0.72

Statutory Accounting Practices Disclosure

The table below shows the combined total of all of our domestic insurance subsidiaries' statutory capital and surplus and statutory net income (loss) for life insurance operations and property insurance operations, although these amounts are not all available as dividends to Citizens since CICA Domestic is the only subsidiary directly owned by Citizens. All other domestic subsidiaries are owned by CICA Domestic.


As of December 31, (In thousands)	2023		2022
Combined statutory capital and surplus:
Life insurance operations	$	29,416	35,433
Property insurance operations	5,692		6,912
Total combined statutory capital and surplus	$	35,108	42,345


Years ended December 31, (In thousands)	2023		2022	2021
Combined statutory net income (loss):
Life insurance operations	$	(3,606)	(1,885)	5,280
Property insurance operations	(1,219)		1,615	(1,512)
Total combined statutory net income (loss)	$	(4,825)	(270)	3,768

Accounting Practices Disclosure


As of December 31, (In thousands)	2023		2022
CICA Bermuda capital and surplus	$	—	61,801
CICA International capital and surplus	$	66,619	—

CICA Bermuda requested a modification as permitted under Section 6C (1) of the Bermuda Insurance Act 1978 (the "Insurance Act") to remove the impact of unrealized gains or losses from the Minimum Margin of Solvency requirement. On January 19, 2023, the Bermuda Monetary Authority granted CICA Bermuda a permitted practice, effective December 31, 2022, pursuant to Section 6C (1) of the Insurance Act to report its fixed income maturity securities at amortized cost in its unconsolidated statutory financial statements.


Years ended December 31, (In thousands)	2023		2022	2021
CICA Bermuda net income (loss)	$	—	(1,024)	14,029
CICA International net income (loss)	$	27,484	—	—

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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+ Details

- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

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