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Investments (Tables)

6 Months Ended

Jun. 30, 2022

Investments Including Short Term And Cash And Cash Equivalents [Abstract]

Investments Including Short Term And Cash And Cash Equivalents [Table Text Block]

The Company invests primarily in fixed maturity securities, which totaled 87.4% of total cash and invested assets at June 30, 2022, as shown below.

Carrying Value (In thousands, except for %)			June 30, 2022												December 31, 2021
			Amount						%						Amount						%
Cash and invested assets:
Fixed maturity securities			$	1,237,004					87.4		%				1,470,617						89.0		%
Equity securities			12,711						0.9		%				14,844						0.9		%
Policy loans			78,586						5.5		%				80,307						4.9		%
Other long-term investments			66,002						4.7		%				57,399						3.5		%
Cash and cash equivalents			22,407						1.5		%				27,294						1.7		%
Total cash and invested assets			$	1,416,710					100.0		%				1,650,461						100.0		%

Debt and Equity Securities, Unrealized Gain (Loss)

Unrealized Gain (Loss) on Investments [Table Text Block]

The following tables represent the amortized cost, gross unrealized gains and losses and fair value of fixed maturity securities as of the dates indicated.

			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
June 30, 2022
(In thousands)
Fixed maturity securities:
Available-for-sale:
U.S. Treasury securities			$	9,471					458						7						9,922
U.S. Government-sponsored enterprises			3,449						485						—						3,934
States and political subdivisions			359,199						5,913						21,723						343,389
Corporate:
Financial			229,937						675						29,961						200,651
Consumer			238,842						1,781						31,996						208,627
Utilities			110,093						191						17,654						92,630
Energy			75,292						21						8,884						66,429
All other			187,706						869						22,150						166,425
Residential mortgage-backed			111,950						197						2,133						110,014
Asset-backed			36,364						28						1,513						34,879
Foreign governments			101						3						—						104
Total fixed maturity securities			$	1,362,404					10,621						136,021						1,237,004

			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
December 31, 2021
(In thousands)
Fixed maturity securities:
Available-for-sale:
U.S. Treasury securities			$	9,515					1,097						1						10,611
U.S. Government-sponsored enterprises			3,463						996						—						4,459
States and political subdivisions			356,594						28,056						692						383,958
Corporate:
Financial			213,652						22,477						172						235,957
Consumer			219,223						23,658						900						241,981
Utilities			105,738						7,358						801						112,295
Energy			76,989						7,334						68						84,255
All other			196,403						22,497						380						218,520
Residential mortgage-backed			117,755						16,046						6						133,795
Asset-backed			44,322						368						14						44,676
Foreign governments			101						9						—						110
Total fixed maturity securities			$	1,343,755					129,896						3,034						1,470,617

Equity Securities, Restricted

Schedule of Equity Securities [Table Text Block]

Most of the Company's equity securities are diversified stock and bond mutual funds.

 

Fair Value (In thousands)			June 30, 2022						December 31, 2021
Equity securities:
Stock mutual funds			$	3,148					3,571
Bond mutual funds			4,407						5,060
Common stock			981						990
Non-redeemable preferred stock			11						161
Non-redeemable preferred stock fund			4,164						5,062
Total equity securities			$	12,711					14,844

Unrealized Continuous Losses on Investments [Abstract]

Schedule of Unrealized Loss on Investments [Table Text Block]

The following tables present the fair values and gross unrealized losses of fixed maturity securities that are not deemed to have credit losses, aggregated by investment category and length of time that individual securities have been in a continuous loss position at June 30, 2022 and December 31, 2021.

June 30, 2022			Less than 12 months									Greater than 12 months									Total
(In thousands, except for # of securities)			Fair Value			Unrealized Losses			# of Securities			Fair Value			Unrealized Losses			# of Securities			Fair Value			Unrealized Losses			# of Securities
Fixed maturity securities:
Available-for-sale securities:
U.S. Treasury securities			$	66		7			2			—			—			—			66			7			2
States and political subdivisions			149,297			21,429			171			720			294			2			150,017			21,723			173
Corporate:
Financial			181,314			29,539			218			887			422			1			182,201			29,961			219
Consumer			175,856			30,776			213			2,842			1,220			7			178,698			31,996			220
Utilities			83,987			15,311			132			4,986			2,343			5			88,973			17,654			137
Energy			64,778			8,884			77			—			—			—			64,778			8,884			77
All Other			146,713			21,215			171			2,427			935			1			149,140			22,150			172
Residential mortgage-backed			82,801			2,133			72			—			—			—			82,801			2,133			72
Asset-backed			30,469			1,436			35			1,643			77			2			32,112			1,513			37
Total fixed maturity securities			$	915,281		130,730			1,091			13,505			5,291			18			928,786			136,021			1,109

December 31, 2021			Less than 12 months									Greater than 12 months									Total
(In thousands, except for # of securities)			Fair Value			Unrealized Losses			# of Securities			Fair Value			Unrealized Losses			# of Securities			Fair Value			Unrealized Losses			# of Securities
Fixed maturity securities:
Available-for-sale securities:
U.S. Treasury securities			$	72		1			2			—			—			—			72			1			2
States and political subdivisions			21,715			692			15			—			—			—			21,715			692			15
Corporate:
Financial			8,059			86			15			1,227			86			1			9,286			172			16
Consumer			29,494			777			28			2,419			123			1			31,913			900			29
Utilities			19,072			401			14			4,523			400			4			23,595			801			18
Energy			7,381			68			8			—			—			—			7,381			68			8
All Other			14,312			380			16			—			—			—			14,312			380			16
Residential mortgage-backed			1,084			6			6			—			—			—			1,084			6			6
Asset-backed			9,078			12			11			663			2			1			9,741			14			12
Total fixed maturity securities			$	110,267		2,423			115			8,832			611			7			119,099			3,034			122

Debt and Equity Securities, Realized Gain (Loss)

Schedule of Realized Gain (Loss) [Table Text Block]

The Company uses the specific identification method of the individual security to determine the cost basis used in the calculation of realized gains and losses related to security sales.  

			Three Months Ended									Six Months Ended
			June 30,									June 30,
(In thousands)			2022			2021						2022			2021
Fixed maturity securities, available-for-sale:
Proceeds			$	27,728		—						28,828			7,254
Gross realized gains			$	101		—						101			100
Gross realized losses			$	(102)		—						(102)			1

Schedule of Maturities by Contractual Maturity Date [Abstract]

Investments Classified by Contractual Maturity Date [Table Text Block]

The amortized cost and fair value of fixed maturity securities at June 30, 2022 by contractual maturity are shown in the table below.  Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date have been reflected based upon final stated maturity.

June 30, 2022			Amortized Cost						Fair Value
(In thousands)
Fixed maturity securities:
Due in one year or less			$	34,225					34,518
Due after one year through five years			116,768						117,642
Due after five years through ten years			214,234						210,114
Due after ten years			997,177						874,730
Total fixed maturity securities			$	1,362,404					1,237,004

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