XML 32 R10.htm IDEA: XBRL DOCUMENT v3.22.2
Segment Information
6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block] SEGMENT INFORMATION
The Company has two reportable segments:  Life Insurance and Home Service Insurance.  Our Life Insurance segment primarily issues endowment contracts, which are principally accumulation contracts that incorporate an element of life insurance protection and ordinary whole life insurance, to non-U.S. residents through CICA International.  These contracts are designed to provide a fixed amount of insurance coverage over the life of the insured and may utilize rider benefits to provide additional coverage and annuity benefits to enhance accumulations. CICA issues credit life, credit disability and accident and health related policies throughout the Midwest and southern U.S. CNLIC issues ordinary whole life and critical illness products in Florida and Texas.

Our Home Service Insurance segment operates through our subsidiaries SPLIC, MGLIC and SPFIC, and focuses on the life insurance needs of the middle- and lower-income markets, primarily in Louisiana, Mississippi and Arkansas.  Our policies are sold and serviced through funeral homes and independent agents who sell policies, collect premiums and service policyholders.  Our Home Service Insurance segment also sells property insurance policies in Louisiana and Arkansas.

The Life Insurance and Home Service Insurance portions of the company constitute separate businesses. The Company also operates other non-insurance portions of the Company ("Other Non-Insurance Enterprises"), which primarily include the Company’s IT and corporate-support functions that are included in the tables presented below to properly reconcile the segment information with the consolidated financial statements of the Company. The Company's Other Non-Insurance Enterprises is the only reportable difference between segments and consolidated operations.

The accounting policies of the reportable segments and Other Non-Insurance Enterprises are presented in accordance with U.S. GAAP and are the same as those used in the preparation of the consolidated financial statements.  The Company evaluates profit and loss performance based on U.S. GAAP income or loss before federal income taxes for its two reportable segments.
Life InsuranceHome Service InsuranceOther Non-Insurance EnterprisesConsolidated
Three Months Ended June 30, 2022
(In thousands)
Revenues:    
Premiums$29,834 12,390  42,224 
Net investment income12,347 3,283 262 15,892 
Investment related gains (losses), net(3,984)(925)(107)(5,016)
Other income633 1  634 
Total revenues38,830 14,749 155 53,734 
Benefits and expenses:   
Insurance benefits paid or provided:    
Claims and surrenders21,568 5,529  27,097 
Increase in future policy benefit reserves7,576 1,802  9,378 
Policyholders' dividends1,509 6  1,515 
Total insurance benefits paid or provided30,653 7,337  37,990 
Commissions4,792 4,132  8,924 
Other general expenses5,358 3,515 1,527 10,400 
Capitalization of deferred policy acquisition costs(4,307)(1,877) (6,184)
Amortization of deferred policy acquisition costs4,613 1,357  5,970 
Amortization of cost of insurance acquired84 179  263 
Total benefits and expenses41,193 14,643 1,527 57,363 
Income (loss) before federal income tax expense$(2,363)106 (1,372)(3,629)
Life InsuranceHome Service InsuranceOther Non-Insurance EnterprisesConsolidated
Six Months Ended June 30, 2022
(In thousands)
Revenues:    
Premiums$56,765 24,823  81,588 
Net investment income24,318 6,527 534 31,379 
Investment related gains (losses), net(4,277)(1,167)(154)(5,598)
Other income1,721 1  1,722 
Total revenues78,527 30,184 380 109,091 
Benefits and expenses:   
Insurance benefits paid or provided:    
Claims and surrenders43,026 12,505  55,531 
Increase in future policy benefit reserves12,706 3,241  15,947 
Policyholders' dividends2,859 9  2,868 
Total insurance benefits paid or provided58,591 15,755  74,346 
Commissions8,598 7,999  16,597 
Other general expenses 11,049 7,865 2,516 21,430 
Capitalization of deferred policy acquisition costs(7,613)(3,352) (10,965)
Amortization of deferred policy acquisition costs9,095 2,692  11,787 
Amortization of cost of insurance acquired140 359  499 
Total benefits and expenses79,860 31,318 2,516 113,694 
Income (loss) before federal income tax expense$(1,333)(1,134)(2,136)(4,603)
Life InsuranceHome Service InsuranceOther Non-Insurance EnterprisesConsolidated
Three Months Ended June 30, 2021
(In thousands)
Revenues:    
Premiums$30,138 12,688 — 42,826 
Net investment income11,879 3,243 198 15,320 
Investment related gains (losses), net4,644 206 4,859 
Other income553 — — 553 
Total revenues47,214 16,137 207 63,558 
Benefits and expenses:    
Insurance benefits paid or provided:    
Claims and surrenders23,531 5,765 — 29,296 
Increase in future policy benefit reserves4,054 2,233 — 6,287 
Policyholders' dividends1,466 — 1,475 
Total insurance benefits paid or provided29,051 8,007 — 37,058 
Commissions4,398 4,403 — 8,801 
Other general expenses5,147 4,084 2,272 11,503 
Capitalization of deferred policy acquisition costs(3,816)(1,971)— (5,787)
Amortization of deferred policy acquisition costs5,200 874 — 6,074 
Amortization of cost of insurance acquired107 202 — 309 
Total benefits and expenses40,087 15,599 2,272 57,958 
Income (loss) before federal income tax expense$7,127 538 (2,065)5,600 
Life InsuranceHome Service InsuranceOther Non-Insurance EnterprisesConsolidated
Six Months Ended June 30, 2021
(In thousands)
Revenues:    
Premiums$57,201 24,657 — 81,858 
Net investment income23,477 6,588 499 30,564 
Investment related gains (losses), net4,536 429 186 5,151 
Other income1,466 — 1,468 
Total revenues86,680 31,676 685 119,041 
Benefits and expenses:    
Insurance benefits paid or provided:    
Claims and surrenders46,801 13,084 — 59,885 
Increase in future policy benefit reserves7,712 3,807 — 11,519 
Policyholders' dividends2,762 19 — 2,781 
Total insurance benefits paid or provided57,275 16,910 — 74,185 
Commissions8,629 8,329 — 16,958 
Other general expenses10,373 7,878 4,634 22,885 
Capitalization of deferred policy acquisition costs(7,377)(3,395)— (10,772)
Amortization of deferred policy acquisition costs10,548 1,709 — 12,257 
Amortization of cost of insurance acquired211 465 — 676 
Total benefits and expenses79,659 31,896 4,634 116,189 
Income (loss) before federal income tax expense$7,021 (220)(3,949)2,852