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Insurance Operations (Tables) | 6 Months Ended
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Jun. 30, 2024
Insurance [Abstract] |
Schedule of Beginning and Ending Balances and Changes in DPAC, Net of DRCC | The following table presents the beginning and ending balances and the changes in DPAC for the periods presented (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
DPAC, beginning of period | $ | 106,632 |  |  | $ | 97,893 |  |  | $ | 109,985 |  |  | $ | 103,654 |
Capitalized Costs | 66,544 |  |  | 60,893 |  |  | 117,396 |  |  | 106,887 |
Amortization of DPAC | (56,032) |  |  | (51,739) |  |  | (110,237) |  |  | (103,494) |
DPAC, end of period | $ | 117,144 |  |  | $ | 107,047 |  |  | $ | 117,144 |  |  | $ | 107,047 |
Schedule of Statutory Capital and Surplus, and an Amount Representing Ten Percent of Total Liabilities for both UPCIC and APPCIC | The following table presents the amount of capital and surplus calculated in accordance with statutory accounting principles, which differs from GAAP, and an amount representing ten percent of total liabilities for each of the Insurance Entities as of the dates presented (in thousands):
| June 30, 2024 |  | December 31, 2023
Statutory capital and surplus |  |  |
UPCIC | $ | 353,439 |  |  | $ | 350,933 |
APPCIC | $ | 27,672 |  |  | $ | 25,526 |
Ten percent of total liabilities |  |  |
UPCIC | $ | 165,379 |  |  | $ | 151,367 |
APPCIC | $ | 2,674 |  |  | $ | 2,398 |
The following table summarizes combined net income (loss) for the Insurance Entities determined in accordance with statutory accounting practices for the periods presented (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Combined net income (loss) | $ | 16,982 |  |  | $ | (24,024) |  |  | $ | 14,328 |  |  | $ | (28,405) |
The following table represents assets held by insurance regulators as of the dates presented (in thousands):
| June 30, 2024 |  | December 31, 2023
Restricted cash and cash equivalents |  |  |
Florida | $ | 1,800 |  |  | $ | 1,800 |
Georgia | 35 |  |  | 35 |
North Carolina | 800 |  |  | 800 |
Total | $ | 2,635 |  |  | $ | 2,635 |
Investments |  |  |
Hawaii | $ | 2,842 |  |  | $ | 2,762 |
Massachusetts | 123 |  |  | 121 |
South Carolina | 133 |  |  | 131 |
Virginia | 319 |  |  | 315 |
Total | $ | 3,418 |  |  | $ | 3,329 |

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- Definition Tabular disclosure of the movement in deferred policy acquisition costs. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (g)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480016/944-40-65-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479432/944-30-50-2B Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479432/944-30-50-2B Reference 4: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479401/944-30-55-2 + Details
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- Definition Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(23)(c)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 505 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477908/944-505-50-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 505 -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477908/944-505-50-6 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 505 -Section 55 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478420/944-505-55-2 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 505 -Section 55 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478420/944-505-55-1 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 944 -SubTopic 505 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477908/944-505-50-3 + Details
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