XML 1029 R23.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Statutory
12 Months Ended
Dec. 31, 2019
Statutory [Abstract]  
Statutory
Note P - Statutory

Net income of the Insurance Subsidiaries, all of which are wholly-owned, as determined in accordance with statutory accounting practices, was $25,302, $36,236 and $22,000 for 2019, 2018 and 2017, respectively.  Consolidated statutory capital and surplus for these Insurance Subsidiaries was $371,793 and $395,891 at December 31, 2019 and 2018, respectively, of which $37,937 may be transferred by dividend or loan to Protective during calendar year 2020 with proper notification to, but without approval from, regulatory authorities.

State regulatory authorities prescribe calculations of the minimum amount of statutory capital and surplus necessary for each insurance company to remain authorized.  These computations are referred to as risk-based capital requirements and are based on a number of complex factors taking into consideration the quality and nature of assets, the historical adequacy of recorded liabilities and the specific nature of business conducted.  At December 31, 2019, the minimum statutory capital and surplus requirements of the Insurance Subsidiaries was $131,608.  Actual consolidated statutory capital and surplus at December 31, 2019 exceeded this requirement by $240,185.