XML 50 R145.htm IDEA: XBRL DOCUMENT v2.4.0.6
Note 22. Dividend Restrictions and Statutory Information (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended 3 Months Ended 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Feb. 29, 2012
Dec. 31, 2011
Madison National Life Subsidiary Member
Dec. 31, 2012
Madison National Life Subsidiary Member
Dec. 31, 2011
Madison National Life Subsidiary Member
Dec. 31, 2010
Madison National Life Subsidiary Member
Dec. 31, 2012
Standard Security Life Subsidiary Member
Dec. 31, 2011
Standard Security Life Subsidiary Member
Dec. 31, 2010
Standard Security Life Subsidiary Member
Dec. 31, 2012
AMICSubsidiariesMember
Dec. 31, 2011
AMICSubsidiariesMember
Dec. 31, 2010
AMICSubsidiariesMember
Statutory Dividend Payment Restrictions Disclosure           Dividends from Madison National Life are subject to the prior notification to the Commissioner of Insurance of the State of Wisconsin if such dividend distribution exceeds 115% of the distribution for the corresponding period of the previous year. In addition, if such dividends, together with the fair market value of other dividends paid or credited and distributions made within the preceding twelve months, exceed the lesser of (i) total net income for the preceding calendar year minus realized capital gains for that calendar year and (ii) 10% of surplus with regard to policyholders as of December 31 of the preceding year, such dividends may be paid so long as such dividends have not been disapproved by the Wisconsin Insurance Commissioner within 30 days of its receipt of notice thereof. In the fourth quarter of 2011, upon approval by the Wisconsin Insurance Commissioner, Madison National Life transferred to its parent, a subsidiary of IHC, all of the outstanding common stock of its wholly owned subsidiary, Standard Security Life, representing an extraordinary dividend with a statutory value of $106,314,000. In addition, Madison National Life declared and paid cash dividends of $3,450,000, $2,000,000 and $3,450,000, in 2012, 2011 and 2010, respectively.     The payment of dividends by Standard Security Life to its parent, a subsidiary of IHC, is subject to the prior notification to the New York State Insurance Department if such dividends, together with other dividends in such calendar year exceed the lesser of (i) 10% of surplus as regards policyholders as of the immediately preceding calendar year and (ii) net gain from operations for the immediately preceding calendar year, not including realized capital gains. Such dividends may be paid so long as they have not been disapproved by the New York State Department of Insurance within 30 days of its receipt of notice thereof. Standard Security Life declared and paid dividends to its parent of $7,980,000, $4,950,000 and $8,500,000 in 2012, 2011 and 2010, respectively.     Dividends from Independence American to its parent, a subsidiary of AMIC, are subject to the prior notification to the Delaware Insurance Commissioner, if such dividends, together with the fair market value of other dividends or distributions made within the preceding twelve months, exceed the greater of (i) 10% of surplus as regards policyholders as of the preceding December 31 or (ii) net income, not including realized capital gains, for the twelve-month period ending the December 31 next preceding. Such dividends may be paid as long as they have not been disapproved by the Delaware Insurance Commissioner within 30 days of its receipt of notice thereof. Independence American paid dividends of $2,000,000, $1,000,000 and $1,500,000 in 2012, 2011 and 2010, respectively.    
Extraordinary Dividend         $ 106,314 [1]                  
Cash Dividends Paid to Parent Company by Consolidated Subsidiaries           3,450 2,000 3,450 7,980 4,950 8,500 2,000 1,000 1,500
Statutory Accounting Practices, Statutory Capital and Surplus, Balance         70,266 72,304 70,266   116,282 106,481   54,427 51,407  
Statutory Accounting Practices, Statutory Net Income Amount           11,903 15,080 12,820 15,805 7,709 3,267 3,271 4,542 2,697
Historical Common Dividend Per Share Prior To 2012       $ 0.045                    
Anticipated Common Dividend Per Share Effective In 2012       $ 0.07                    
Dividends, Common Stock, Cash $ 1,271 $ 807 $ 762                      
[1] Madison National Life transferred to its parent, all of the outstanding common stock of its wholly-owned subsidiary, Standard Security Life.