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Statutory Reporting (Tables)

12 Months Ended

Dec. 31, 2023

Reported Statutory Net Income and Capital and Surplus for the Parent's Insurance Subsidiaries

The Company meets the minimum capital requirements in the states in which it does business. The amount of reported statutory net income and capital and surplus (shareholders’ equity) for the Parent’s insurance subsidiaries for the years ended December 31 was as follows:

	2023		2022
Bankers Fidelity, net income	$	7,017	$	3,865
American Southern, net income		3,964		5,743
Statutory net income	$	10,981	$	9,608

Bankers Fidelity, capital and surplus	$	38,299	$	36,672
American Southern, capital and surplus		51,774		53,023
Statutory capital and surplus	$	90,073	$	89,695

- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

+ References + Details