Dispositions

9 Months Ended

Sep. 30, 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

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