Statutory Financial Information of Insurance Subsidiaries

12 Months Ended

Mar. 31, 2014

Disclosure Text Block [Abstract]

Statutory Financial Information of Insurance Subsidiaries

Applicable laws and regulations of the State of Arizona require Property and Casualty Insurance and Life Insurance to maintain minimum capital and surplus determined in accordance with statutory accounting principles. Audited statutory net income (loss) and statutory capital and surplus for the years ended are listed below:

		Years Ended December 31,
		2013		2012		2011
		(In thousands)
Repwest:
Audited statutory net income (loss)	$	18,286	$	16,923	$	(37,417	)
Audited statutory capital and surplus		126,836		94,284		77,285
ARCOA:
Audited statutory net income (loss)		532		(1,881	)	(362	)
Audited statutory capital and surplus		2,666		2,201		2,469
Oxford:
Audited statutory net income		11,130		13,936		1,677
Audited statutory capital and surplus		148,486		131,920		129,445
CFLIC:
Audited statutory net income		9,567		8,734		8,513
Audited statutory capital and surplus		28,848		28,042		36,200
NAI:
Audited statutory net income (loss)		(419	)	(1,962	)	(4,151	)
Audited statutory capital and surplus		10,185		9,804		11,564
DGLIC:*
Audited statutory net income		-		-		1,828
Audited statutory capital and surplus		-		-		7,276

* Merged with CFLIC on December 31, 2012.

The amount of dividends that can be paid to shareholders by insurance companies domiciled in the State of Arizona is limited. Any dividend in excess of the limit requires prior regulatory approval. The statutory surplus for Repwest at December 31, 2013 that could be distributed as ordinary dividends was $10.2 million. The statutory surplus for Oxford at December 31, 2013 that could be distributed as ordinary dividends was $14.8 million. Repwest and Oxford did not pay a dividend to AMERCO in fiscal 2014 or 2013. In fiscal 2012, Repwest distributed a dividend of $6.8 million in property to AMERCO.