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v3.23.2

Deferred Policy Acquisition Costs and Cost of Insurance Acquired (Tables) | 6 Months Ended
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Jun. 30, 2023
Insurance [Abstract] |
Deferred Policy Acquisition Costs | The following tables roll forward the DAC asset for the six months ended June 30, 2023 and 2022 by reporting cohort. Our reporting cohorts are Permanent, which summarizes insurance policies with premiums payable over the lifetime of the policy, and Permanent Limited Pay, which summarizes insurance policies with premiums payable for a limited time after which the policy is fully paid up. Both reporting cohorts include whole life and endowment policies.
| Six Months Ended June 30, 2023
(In thousands) | Permanent | Permanent Limited Pay |  | Other Business | Total
Life Insurance: |  |  |  |  |
Balance, beginning of year | $ | 100,926 |  | 11,542 |  |  | 1,016 |  | 113,484 |
Capitalizations | 7,212 |  | 1,436 |  |  | 169 |  | 8,817 |
Amortization expense | (5,909) |  | (382) |  |  | (38) |  | (6,329) |
Balance, end of period | 102,229 |  | 12,596 |  |  | 1,147 |  | 115,972 |
Home Service Insurance: |  |  |  |  |
Balance, beginning of year | 38,793 |  | 9,729 |  |  | 921 |  | 49,443 |
Capitalizations | 3,340 |  | 629 |  |  | 116 |  | 4,085 |
Amortization expense | (1,015) |  | (196) |  |  | 52 |  | (1,159) |
Balance, end of period | 41,118 |  | 10,162 |  |  | 1,089 |  | 52,369 |
Consolidated: |  |  |  |  |
Balance, beginning of year | 139,719 |  | 21,271 |  |  | 1,937 |  | 162,927 |
Capitalizations | 10,552 |  | 2,065 |  |  | 285 |  | 12,902 |
Amortization expense | (6,924) |  | (578) |  |  | 14 |  | (7,488) |
Balance, end of period | $ | 143,347 |  | 22,758 |  |  | 2,236 |  | 168,341 |
| Six Months Ended June 30, 2022
(In thousands) | Permanent | Permanent Limited Pay |  | Other Business | Total
Life Insurance: |  |  |  |  |
Balance, beginning of year | $ | 97,675 |  | 9,001 |  |  | 1,026 |  | 107,702 |
Capitalizations | 6,079 |  | 1,545 |  |  | (11) |  | 7,613 |
Amortization expense | (5,607) |  | (309) |  |  | (54) |  | (5,970) |
Balance, end of period | 98,147 |  | 10,237 |  |  | 961 |  | 109,345 |
Home Service Insurance: |  |  |  |  |
Balance, beginning of year | 35,137 |  | 8,723 |  |  | 856 |  | 44,716 |
Capitalizations | 2,615 |  | 727 |  |  | 10 |  | 3,352 |
Amortization expense | (896) |  | (179) |  |  | 18 |  | (1,057) |
Balance, end of period | 36,856 |  | 9,271 |  |  | 884 |  | 47,011 |
Consolidated: |  |  |  |  |
Balance, beginning of year | 132,812 |  | 17,724 |  |  | 1,882 |  | 152,418 |
Capitalizations | 8,694 |  | 2,272 |  |  | (1) |  | 10,965 |
Amortization expense | (6,503) |  | (488) |  |  | (36) |  | (7,027) |
Balance, end of period | $ | 135,003 |  | 19,508 |  |  | 1,845 |  | 156,356 |
Cost of Insurance Acquired | The following tables provide rollforwards of the COIA balances for the six months ended June 30, 2023 and 2022 by reporting cohort. Our reporting cohorts are Permanent, which summarizes insurance policies with premiums payable over the lifetime of the policy, and Permanent Limited Pay, which summarizes insurance policies with premiums payable for a limited time after which the policy is fully paid up. Both reporting cohorts include whole life and endowment policies.
| Six Months Ended June 30, 2023
(In thousands) | Permanent | Permanent Limited Pay |  | Other Business | Total
Life Insurance: |  |  |  |  |
Balance, beginning of year | $ | 267 |  | 750 |  |  | 444 |  | 1,461 |
Amortization expense | (10) |  | (30) |  |  | (18) |  | (58) |
Balance, end of period | 257 |  | 720 |  |  | 426 |  | 1,403 |
Home Service Insurance: |  |  |  |  |
Balance, beginning of year | 7,583 |  | 176 |  |  | 1,427 |  | 9,186 |
Amortization expense | (197) |  | (4) |  |  | (55) |  | (256) |
Balance, end of period | 7,386 |  | 172 |  |  | 1,372 |  | 8,930 |
Consolidated: |  |  |  |  |
Balance, beginning of year | 7,850 |  | 926 |  |  | 1,871 |  | 10,647 |
Amortization expense | (207) |  | (34) |  |  | (73) |  | (314) |
Balance, end of period | $ | 7,643 |  | 892 |  |  | 1,798 |  | 10,333 |
| Six Months Ended June 30, 2022
(In thousands) | Permanent | Permanent Limited Pay |  | Other Business | Total
Life Insurance: |  |  |  |  |
Balance, beginning of year | $ | 287 |  | 812 |  |  | 485 |  | 1,584 |
Amortization expense | (10) |  | (31) |  |  | (21) |  | (62) |
Balance, end of period | 277 |  | 781 |  |  | 464 |  | 1,522 |
Home Service Insurance: |  |  |  |  |
Balance, beginning of year | 7,989 |  | 184 |  |  | 1,511 |  | 9,684 |
Amortization expense | (205) |  | (4) |  |  | (9) |  | (218) |
Balance, end of period | 7,784 |  | 180 |  |  | 1,502 |  | 9,466 |
Consolidated: |  |  |  |  |
Balance, beginning of year | 8,276 |  | 996 |  |  | 1,996 |  | 11,268 |
Amortization expense | (215) |  | (35) |  |  | (30) |  | (280) |
Balance, end of period | $ | 8,061 |  | 961 |  |  | 1,966 |  | 10,988 |

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