Dispositions

3 Months Ended

Mar. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Dispositions

Dispositions

Disposition of Reserve National Insurance Company

In July 2022, the Company entered into a definitive agreement to sell Reserve National Insurance Company and its wholly-owned subsidiaries (collectively, “Reserve National”) to Medical Mutual of Ohio, for approximately $90.0 million in total consideration. The sale closed on December 1, 2022 and a loss of $1.6 million, net of income tax, was recorded for the year ended December 31, 2022. Subsequent adjustments to this purchase price could occur pursuant to the definitive agreement but

Note 3 - Dispositions (Continued)

are not expected to be material. The Company reported Reserve National’s results of operations in the Life & Health Insurance segment through December 1, 2022.