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Note 14. Concentration of Credit Risk
12 Months Ended
Dec. 31, 2013
Notes  
Note 14. Concentration of Credit Risk

Note 14.          Concentration of Credit Risk

 

At December 31, 2013, the Company had no investment securities of any one issuer or in any one industry which exceeded 10% of stockholders' equity, except for investments in obligations of the U.S. Government and its agencies and mortgage-backed securities issued by GSEs, as summarized in Note 2.

 

Fixed maturities with a carrying value of $12,637,000 and $12,468,000 were on deposit with various state insurance departments at December 31, 2013 and 2012, respectively.

 

At December 31, 2013, the Company had net receivables of $217,369,000, $42,239,000 and $40,072,000 from three different reinsurers, Guggenheim Life and Annuity Company, Markel Bermuda, Ltd. and RGA Reinsurance Company, respectively, which are rated B++, A and A+, respectively, by A.M. Best.  These are the only reinsurers with net receivables that individually exceed 10% of the stockholders' equity of the Company. The Company believes that these receivables are fully collectible.