Note 15. Concentration of Credit Risk

12 Months Ended

Dec. 31, 2015

Notes

Note 15. Concentration of Credit Risk

Note 15.          Concentration of Credit Risk

At December 31, 2015, 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 $12,552,000 and $12,523,000 were on deposit with various state insurance departments at December 31, 2015 and 2014, respectively.

At December 31, 2015, the Company had reinsurance recoverables from the following reinsurers that individually exceed 10% of stockholders’ equity (in thousands):

	AM Best		Due from
Reinsurer	Rating		Reinsurer
National Guardian Life Insurance Company	A	$	236,577
Guggenheim Life and Annuity Company	B++		106,547
RGA Reinsurance Company	A+		40,224
Markel Bermuda, Ltd.	A		41,172

The Company believes that these receivables are fully collectible.