Insurance Reserves and Policyholder Funds (Tables)

12 Months Ended

Dec. 31, 2013

Insurance Reserves And Policyholder Funds [Abstract]

Reserves for life, accident, health and property and casualty losses, including loss adjustment expenses

The following table presents the Company’s reserves for life, accident, health and property and casualty losses as well as loss adjustment expenses.

					Amount of Insurance In Force, Net
	2013		2012		2013		2012
Future policy benefits
Life insurance policies:
Ordinary	$	52,915	$	51,256	$	237,694	$	244,634
Mass market		2,715		3,037		3,504		4,001
Individual annuities		135		142		-		-
		55,765		54,435	$	241,198	$	248,635
Accident and health insurance policies		14,099		12,497
		69,864		66,932
Unearned premiums		27,415		22,637
Losses, claims and loss adjustment expenses		63,018		62,873
Other policy liabilities		2,076		2,116
Total insurance reserves and policyholder funds	$	162,373	$	154,558

Summary of activity in liabilities for unpaid loss and claim reserved

Activity in the liability for unpaid loss and claim reserves is summarized as follows:

	2013			2012
Balance at January 1	$	62,873		$	57,975
Less: Reinsurance receivable on unpaid losses		(18,743	)		(15,673	)
Net balance at January 1		44,130			42,302

Incurred related to:
Current year		97,904			86,780
Prior years		(1,657	)		(1,841	)
Total incurred		96,247			84,939

Paid related to:
Current year		66,705			61,786
Prior years		24,968			21,325
Total paid		91,673			83,111
Net balance at December 31		48,704			44,130
Plus: Reinsurance receivable on unpaid losses		14,314			18,743
Balance at December 31	$	63,018		$	62,873

Reconciliation of total incurred claims to total insurance benefits and losses

Following is a reconciliation of total incurred claims to total insurance benefits and losses incurred:

	2013		2012
Total incurred claims	$	96,247	$	84,939
Cash surrender value and matured endowments		1,215		1,241
Benefit reserve changes		2,910		3,637
Total insurance benefits and losses incurred	$	100,372	$	89,817

- Definition

The entire disclosure for the present values of future benefits to be paid to or on behalf of policyholders and related expenses less the present value of future net premiums using assumptions such as estimates of expected investment yields, mortality, morbidity, terminations and expenses, applicable at the time the insurance contracts are made and unpaid claim costs relating to insurance contracts including estimates of costs relating to incurred but not reported claims based on the estimated ultimate cost of settling the claims (including effects of inflation and other societal and economic factors), using past experience adjusted for current trends and any other factors that would modify past experience by element such as business segment, country and interest rate range.

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- Definition

Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims.

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