v3.21.2

Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Summarized Financial Information by Operating Group

Summarized financial information concerning the Company’s Operating Groups is shown in the following tables. The Corporate and Other non-reportable segment includes any expenses not allocated to the Operating Groups and corporate-related items, including related party and third-party interest expense. Intersegment revenue and expenses are eliminated through the Corporate and Other column. Service center expenses and other overhead are allocated to the Company’s Operating Groups based on either revenue or headcount as applicable to each expense.

			For the Three Months Ended September 30, 2021
(in thousands)			Middle Market						Specialty						MainStreet						Medicare						Corporate and Other						Total
Commissions and fees (1)			$	80,087					$	41,986					$	8,760					$	5,665					$	(942)					$	135,556
Net income (loss)			(7,154)						962						1,233						61						(19,324)						(24,222)

__________

(1)    During the three months ended September 30, 2021, the Middle Market Operating Group recorded intercompany commissions and fees revenue from activity with the Specialty Operating Group of $604,000; the Specialty Operating Group recorded intercompany commissions and fees revenue from activity with itself of $41,000; the MainStreet Operating Group recorded intercompany commissions and fees revenue from activity with the Middle Market Operating Group of $121,000; and the Medicare Operating Group recorded intercompany commissions and fees revenue from activity with itself of $176,000. These intercompany commissions and fees are eliminated through Corporate and Other.

			For the Three Months Ended September 30, 2020
(in thousands)			Middle Market						Specialty						MainStreet						Medicare						Corporate and Other						Total
Commissions and fees			$	26,561					$	27,486					$	7,905					$	4,101					$	(210)					$	65,843
Net income (loss)			1,175						(1,278)						1,197						214						(8,923)						(7,615)

			For the Nine Months Ended September 30, 2021
(in thousands)			Middle Market						Specialty						MainStreet						Medicare						Corporate and Other						Total
Commissions and fees (1)			$	266,751					$	97,173					$	25,558					$	20,269					$	(1,661)					$	408,090
Net income (loss)			28,601						4,435						3,505						2,811						(53,064)						(13,712)

__________

(1)    During the nine months ended September 30, 2021, the Middle Market Operating Group recorded intercompany commissions and fees revenue from activity with the Specialty Operating Group of $1.1 million; the Specialty Operating Group recorded intercompany commissions and fees revenue from activity with itself of $41,000; the MainStreet Operating Group recorded intercompany commissions and fees revenue from activity with the Middle Market Operating Group of $212,000; and the Medicare Operating Group recorded intercompany commissions and fees revenue from activity with itself of $336,000. These intercompany commissions and fees are eliminated through Corporate and Other.

			For the Nine Months Ended September 30, 2020
(in thousands)			Middle Market						Specialty						MainStreet						Medicare						Corporate and Other						Total
Commissions and fees			$	69,311					$	64,358					$	23,917					$	13,894					$	(210)					$	171,270
Net income (loss)			11,789						(6,190)						3,397						2,661						(22,424)						(10,767)

(in thousands)			Middle Market						Specialty						MainStreet						Medicare						Corporate and Other						Total
Total assets at September 30, 2021			$	1,495,044					$	328,005					$	60,896					$	56,609					$	292,555					$	2,233,109
Total assets at December 31, 2020			1,194,185						188,360						58,957						43,675						44,737						1,529,914

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

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- References

No definition available.

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