Policy Benefits and Losses, Claims and Loss Expenses Payable (Table Text Block)

6 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Insurance [Abstract]

Present Value Expected Net Premiums and Expected Future Policy Benefits

The following tables summarize balances and changes in the liability for future policy benefits for life insurance contracts and a reconciliation to policy benefits and losses, claims and loss expense payable.

	Six months ended September 30,
	2024			2023
	(Unaudited)
	(In thousands)
Present value of expected net premiums
Balance, beginning of year	$	205,389		$	223,118
Beginning balance at original discount rate	$	204,306		$	225,071
Effect of changes in cash flow assumptions		—			—
Effect of actual variances from expected experience		(715	)		(187	)
Adjusted beginning of year balance	$	203,591		$	224,884
Issuances		4,780			5,072
Interest accrual		4,998			5,554
Net premium collected		(18,397	)		(19,833	)
Other		—			—
Ending balance at original discount rate	$	194,972		$	215,677
Effect of changes in discount rate assumptions (AOCI)		(4,091	)		(1,650	)
Balance, end of period	$	190,881		$	214,027
Present value of expected future policy benefits
Balance, beginning of year	$	522,122		$	530,983
Beginning balance at original discount rate	$	514,113		$	533,688
Effect of changes in cash flow assumptions		—			—
Effect of actual variances from expected experiences		(1,393	)		(565	)
Adjusted beginning of year balance	$	512,720		$	533,123
Issuances		4,780			5,211
Interest accrual		12,587			13,166
Benefit payments		(26,560	)		(27,720	)
Other		—			—
Ending balance at original discount rate	$	503,527		$	523,780
Effect of changes in discount rate assumptions (AOCI)		(10,313	)		949
Balance, end of period	$	493,214		$	524,729
End of period, LFPB net		302,332			310,702
Payout annuities and market risk benefits		24,448			30,685
Health insurance		17,238			12,563
Life and annuity claims in course of settlement and claims incurred but not yet reported / Reinsurance losses payable		28,952			10,101
Life DPL / Other life and health		9,553			26,556
LFPB flooring effect		176			—
Life insurance end of period balance	$	382,699		$	390,607
Moving and Storage balance		318,669			324,642
Property and Casualty balance		132,264			150,148
Policy benefits and losses, claims and loss expenses balance, end of period	$	833,632		$	865,397

		Six months ended September 30,
		2024			2023
	(Unaudited)
		(In thousands, except for percentages and weighted average information)
Expected gross premiums
Undiscounted balance		$	350,890		$	387,141
Discounted balance at original discount rate		$	272,992		$	299,161
Discounted balance at current discount rate		$	266,964		$	296,505
Expected policy benefits
Undiscounted balance		$	723,862		$	761,261
Discounted balance at original discount rate		$	503,526		$	523,777
Discounted balance at current discount rate		$	493,213		$	524,726
Mortality, lapses and morbidity
Mortality actual experience			5.06	%		5.02	%
Mortality expected experience			5.44	%		5.06	%
Lapses actual experience			1.90	%		1.87	%
Lapses expected experience			2.73	%		2.65	%
Premiums and interest expense
Gross premiums (1)		$	25,043		$	26,667
Interest expense (2)		$	7,589		$	7,612
Expected duration (persistency) of policies in-force (years)			6.8			6.9
Weighted average original interest rate of the liability for future policy benefits			4.97	%		5.00	%
Weighted average current interest rate of the liability for future policy benefits			5.13	%		4.65	%

Balance Changes Liabilities Investment Contracts

The following tables present the balances and changes in Liabilities from investment contracts account balances:

	Six Months Ended September 30, 2024
	(Unaudited)
	(In thousands, except for the average credited rate)
Policyholder contract deposits account balance
Beginning of year	$	2,411,352
Deposits received		226,771
Surrenders and withdrawals		(164,919	)
Benefit payments		(19,625	)
Interest credited		37,584
Other		5,868
End of period	$	2,497,031
Weighted average credited rate		3.29
Cash surrender value	$	2,172,013

	Six Months Ended September 30, 2023
	(Unaudited)
	(In thousands, except for the average credited rate)
Policyholder contract deposits account balance
Beginning of year	$	2,398,884
Deposits received		125,122
Surrenders and withdrawals		(146,647	)
Benefit payments		(20,761	)
Interest credited		36,992
Other		—
End of period	$	2,393,590
Weighted average credited rate		3.09
Cash surrender value	$	2,062,233

The following tables present the balances and changes in Liabilities from investment contracts account balances:

	Six Months Ended September 30, 2024
	(Unaudited)
	(In thousands, except for the average credited rate)
Policyholder contract deposits account balance
Beginning of year	$	2,411,352
Deposits received		226,771
Surrenders and withdrawals		(164,919	)
Benefit payments		(19,625	)
Interest credited		37,584
Other		5,868
End of period	$	2,497,031
Weighted average credited rate		3.29
Cash surrender value	$	2,172,013

	Six Months Ended September 30, 2023
	(Unaudited)
	(In thousands, except for the average credited rate)
Policyholder contract deposits account balance
Beginning of year	$	2,398,884
Deposits received		125,122
Surrenders and withdrawals		(146,647	)
Benefit payments		(20,761	)
Interest credited		36,992
Other		—
End of period	$	2,393,590
Weighted average credited rate		3.09
Cash surrender value	$	2,062,233