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Deposit-Type Contracts
9 Months Ended
Sep. 30, 2022
Deposit-Type Contracts  
Deposit-Type Contracts

Note 11. Deposit-Type Contracts

The Company’s deposit-type contracts represent the contract value that has accrued to the benefit of policyholders as of the balance sheet date. Liabilities for these deposit-type contracts are included without reduction for potential surrender charges. This liability is equal to the accumulated account deposits, plus interest credited, and less policyholder withdrawals.

The following table provides information about deposit-type contracts as of September 30, 2022, and December 31, 2021:

(In thousands)

    

September 30, 2022

    

December 31, 2021

Beginning balance

$

1,075,439

$

597,868

US Alliance

 

(1,783)

 

1,873

Unified Life Insurance Company

(10)

468

Ironbound Reinsurance Company Limited

 

4,234

 

6,579

Ascendant Re

(2,409)

2,880

Crestline SP1

(8,166)

4,834

American Republic Insurance Company

(2,390)

1,567

SRC4

156

Deposits received

 

509,660

 

471,646

Investment earnings (includes embedded derivative)

 

(6,489)

 

7,012

Withdrawals

 

(30,314)

 

(18,446)

Policy charges

(345)

(842)

Ending balance

$

1,537,583

$

1,075,439