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Derivative Financial Instruments | 12 Months Ended
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Dec. 31, 2022
General Discussion of Derivative Instruments and Hedging Activities [Abstract] |
Derivative Financial Instruments | Derivative Financial Instruments The Company is exposed to certain risks relating to its ongoing business operations. The primary risks managed by using derivative instruments are equity price risk and interest rate risk. Equity contracts (options sold) on various equity securities are intended to manage the price risk associated with forecasted purchases or sales of such securities. From time to time, the Company also enters into derivative contracts to enhance returns on its investment portfolio. The following tables present the location and amounts of derivative fair values in the consolidated balance sheets and derivative gains in the consolidated statements of operations:
| Liability Derivatives
| December 31, 2022 |  | December 31, 2021
| (Amounts in thousands)
Options sold - Other liabilities | $ | 162 |  |  | $ | 301 |
Total derivatives | $ | 162 |  |  | $ | 301 |
| Gains Recognized in Income
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
| (Amounts in thousands)
Options sold - Net realized investment (losses) gains | $ | 5,887 |  |  | $ | 3,045 |  |  | $ | 22,306 |
Total | $ | 5,887 |  |  | $ | 3,045 |  |  | $ | 22,306 |
Most options sold consist of covered calls. The Company writes covered calls on underlying equity positions held as an enhanced income strategy that is permitted for the Company’s insurance subsidiaries under statutory regulations. The Company manages the risk associated with covered calls through strict capital limitations and asset diversification throughout various industries. For additional disclosures regarding equity contracts, see Note 4. Fair Value Measurements for additional disclosures regarding options sold.

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI https://asc.fasb.org/topic&trid=2229140 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 5 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126731327&loc=d3e90205-114008 + Details
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