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Allowance for Credit Losses | 12 Months Ended
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Mar. 31, 2023
Allowance For Credit Loss [Abstract] |
Allowance For Credit Losses [Text Block] | Note 24 . Allowance for Credit Losses Mortgage loans, net Loans that management has the intent and ability to hold for the foreseeable future, or until maturity or payoff, are reported at amortized cost. Modeling for the Company’s mortgage loans is based on inputs most highly correlated to defaults, including loan-to-value, occupancy, and payment history. Historical credit loss experience provides additional support for the estimation of expected credit losses. In assessing the credit losses, the portfolio is reviewed on a collective basis, using loan-specific cash flows to determine the fair value of the collateral in the event of default. Adjustments to this analysis are made to assess loans with a loan-to-value of 65% or greater. These loans are evaluated on an individual basis and loan specific risk characteristics such as occupancy levels, expense, income growth and other relevant available information from internal and external sources relating to past events, current conditions, and reasonable and supportable forecasts. When management determines that credit losses are expected to occur, an allowance for expected credit losses based on the fair value of the collateral is recorded. Reinsurance recoverables Reinsurance recoverable on paid and unpaid benefits was less than 1% of the total assets as of January 1, 2022 which is immaterial based on historical loss experience and high credit rating of the reinsurers. Premium receivables Premiums receivables were $ 4.1 million and $ 1.7 million as of December 31, 2022 and 2021, respectively, in which the credit loss allowance is immaterial based on our ability to cancel the policy if the policyholder doesn‘t pay premiums. The following details the changes in the Company’s reserve allowance for credit losses for trade receivables, fixed maturities and investments, other: Allowance for Credit Losses Trade Receivables Investments, Fixed Maturities Investments, other Total (In thousands) Balance as of March 31, 2021 $ 4,421 $ 1,320 $ 501 $ 6,242 Provision for (reversal of) credit losses 4,228 (1,260) – 2,968 Write-offs against allowance – – – – Recoveries – – – – Balance as of March 31, 2022 $ 8,649 $ 60 $ 501 $ 9,210 Provision for (reversal of) credit losses (4,860) 2,041 16 (2,803) Write-offs against allowance – – – – Recoveries – – – – Balance as of March 31, 2023 $ 3,789 $ 2,101 $ 517 $ 6,407

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- Definition The entire disclosure for allowance for credit losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -URI https://asc.fasb.org/topic&trid=2196771 + Details
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