Contingencies and Commitments

9 Months Ended

Sep. 30, 2022

Contingencies and Commitments

Contingencies and Commitments

Note 12. Contingencies and Commitments

Contingent Commitments: We have entered into commitments related to certain investments, where draws or additional funding can be requested under the terms of the agreements. These commitments are inclusive of third-party reinsurer commitments and were approximately $212.7 million as of September 30, 2022. Of the approximately $212.7 million in unfunded commitments at September 30, 2022, approximately $75.7 million related to American Life. The remaining $137.0 million represented commitments that have been made by our reinsurance partners. The table shows when different dollar amounts of commitments will expire. The ability of borrowers to request additional funds under these lending agreements varies considerably from loan to loan.

(In thousands)	September 30, 2022		December 31, 2021
Due in one year or less	$	66,533	$	19,245
Due in two years		16,266		26,753
Due in three years		25,086		4,705
Due in four years		37,194		8,741
Due in five years and after		67,626		86,497
	$	212,705	$	145,941

Legal Proceedings: We are involved in litigation incidental to our operations from time to time. We are not presently a party to any legal proceedings other than litigation arising in the ordinary course of our business, and we are not aware of any claims that could materially affect our financial position or results of operations.

Regulatory Matters: State regulatory bodies and other regulatory bodies regularly make inquiries and conduct examinations or investigations concerning the Company’s compliance with laws in relation to, but not limited to, insurance and securities matters. American Life is licensed in 22 states and the District of Columbia as of September 30, 2022 and has pending applications in additional states as of September 30, 2022.