Policy Liabilities and Short Duration Contracts (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]

The following table presents information on changes in the liability for life, accident and health and property policy and contract claims.


Years ended December 31, (In thousands)	2022		2021
Policy claims payable:
Balance at January 1	$	14,590	13,206
Less: reinsurance recoverable	2,469		3,012
Net balance at January 1	12,121		10,194
Add claims incurred, related to:
Current year	28,720		32,595
Prior years(1)	(46)		1,052
	28,674		33,647
Deduct claims paid, related to:
Current year	22,771		23,369
Prior years	10,210		8,351
	32,981		31,720
Net balance December 31	7,814		12,121
Plus: reinsurance recoverable	2,070		2,469
Balance at December 31	$	9,884	14,590
(1) This line is primarily impacted by the level of claim resolutions in the period compared to that which is expected by the reserve assumption. A positive number implies an unfavorable result where claim resolutions were less favorable than assumed while a negative number implies a favorable result compared to assumptions. Our claim assumptions will vary from actual experience in any one period, either favorably or unfavorably.

Short-duration Insurance Contracts, Claims Development

This information is presented for the last five years as these claims rarely pay out over a longer period of time.


								As of December 31, 2022
	Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance							Total of Incurred but Not Reported Liabilities Plus Expected Development on Reported Claims	Cumulative Number of Reported Claims
	For the Years Ended December 31,
($ In thousands)	2018		2019	2020	2021	2022
Accident Year:	(Unaudited)
2018	$	1,542	1,427	1,432	1,436	1,430		—	496
2019			1,549	1,150	1,161	1,106		1	610
2020				2,598	2,670	2,577		2	2,397
2021					2,087	1,644		5	2,369
2022						1,213		177	313
Total						$	7,970

The following table presents paid claims development as of December 31, 2022, net of reinsurance.


	Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	Years ended December 31,
(In thousands)	2018		2019	2020	2021	2022
Accident Year:	(Unaudited)
2018	$	1,330	1,425	1,430	1,430	1,430
2019			1,166	1,071	1,091	1,105
2020				1,997	2,639	2,575
2021					1,435	1,639
2022						1,011
Total						$	7,760
All outstanding liabilities before 2018, net of reinsurance						$	—
Liabilities for claims and claim adjustment expenses, net of reinsurance						$	263

Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability

The reconciliation of the net incurred and paid claims development tables to the liability for claims and claim adjustment expenses in the consolidated balance sheets are as follows:


As of December 31, (In thousands)	2022		2021
Net outstanding liabilities:
Special property	$	263	796
Other short duration insurance lines	158		253
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance	421		1,049
Reinsurance recoverable on unpaid claims:
Special property	1,275		2,083
Other short duration insurance lines	798		386
Total reinsurance recoverable on unpaid claims	2,073		2,469
Insurance lines other than short duration	7,390		11,072
Total gross liability for unpaid claims and claim adjustment expense	$	9,884	14,590

Short-duration Insurance Contracts, Schedule of Historical Claims Duration

The following is supplementary information to the consolidated financial statements about average historical claims duration as of December 31, 2022.


Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Unaudited)
Years	1		2		3		4		5

Special property	98	%	10	%	—	%	1	%	—	%