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v3.25.1

Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | The Company's Other Non-Insurance Enterprises represents the only reportable difference between segments and consolidated operations.
| Life Insurance |  | Home Service Insurance |  | Other Non-Insurance Enterprises |  | Consolidated
Three Months Ended March 31, 2025 |  |  |
(In thousands) |  |  |
Revenues: |  |  |  |  |  |  |
Premiums: |  |  |  |  |  |  |
Life insurance | $ | 28,967 |  |  | 10,382 |  |  | — |  |  | 39,349 |
Accident and health insurance | 187 |  |  | 261 |  |  | — |  |  | 448 |
Net investment income | 13,512 |  |  | 3,678 |  |  | 187 |  |  | 17,377 |
Investment related gains (losses), net | (2,747) |  |  | (148) |  |  | 1 |  |  | (2,894) |
Other income | 1,372 |  |  | — |  |  | — |  |  | 1,372 |
Total revenues | 41,291 |  |  | 14,173 |  |  | 188 |  |  | 55,652 |
Benefits and expenses: |  |  |  |  |  |  |
Insurance benefits paid or provided: |  |  |  |  |  |  |
Claims and surrenders | 34,142 |  |  | 5,956 |  |  | — |  |  | 40,098 |
Increase (decrease) in future policy benefit reserves | (5,326) |  |  | 1,680 |  |  | — |  |  | (3,646) |
Policyholder liability remeasurement (gain) loss | 13 |  |  | (185) |  |  | — |  |  | (172) |
Policyholders' dividends | 1,289 |  |  | 6 |  |  | — |  |  | 1,295 |
Total insurance benefits paid or provided | 30,118 |  |  | 7,457 |  |  | — |  |  | 37,575 |
Commissions | 8,163 |  |  | 3,112 |  |  | — |  |  | 11,275 |
Other general expenses | 6,572 |  |  | 3,783 |  |  | 2,338 |  |  | 12,693 |
Capitalization of deferred policy acquisition costs | (7,719) |  |  | (1,130) |  |  | — |  |  | (8,849) |
Amortization of deferred policy acquisition costs | 3,893 |  |  | 754 |  |  | — |  |  | 4,647 |
Amortization of cost of insurance acquired | 21 |  |  | 77 |  |  | — |  |  | 98 |
Total benefits and expenses | 41,048 |  |  | 14,053 |  |  | 2,338 |  |  | 57,439 |
Income (loss) before federal income tax | $ | 243 |  |  | 120 |  |  | (2,150) |  |  | (1,787) |
| Life Insurance |  | Home Service Insurance |  | Other Non-Insurance Enterprises |  | Consolidated
Three Months Ended March 31, 2024 |  |  |
(In thousands) |  |  |
Revenues: |  |  |  |  |  |  |
Premiums: |  |  |  |  |  |  |
Life insurance | $ | 27,698 |  |  | 10,563 |  |  | — |  |  | 38,261 |
Accident and health insurance | 163 |  |  | 251 |  |  | — |  |  | 414 |
Property insurance | — |  |  | (2) |  |  | — |  |  | (2) |
Net investment income | 13,686 |  |  | 3,537 |  |  | 264 |  |  | 17,487 |
Investment related gains (losses), net | 1,086 |  |  | (91) |  |  | (32) |  |  | 963 |
Other income | 506 |  |  | — |  |  | 83 |  |  | 589 |
Total revenues | 43,139 |  |  | 14,258 |  |  | 315 |  |  | 57,712 |
Benefits and expenses: |  |  |  |  |  |  |
Insurance benefits paid or provided: |  |  |  |  |  |  |
Claims and surrenders | 27,364 |  |  | 5,749 |  |  | — |  |  | 33,113 |
Increase (decrease) in future policy benefit reserves | (1,193) |  |  | 1,644 |  |  | — |  |  | 451 |
Policyholder liability remeasurement (gain) loss | 373 |  |  | (54) |  |  | — |  |  | 319 |
Policyholders' dividends | 1,231 |  |  | 6 |  |  | — |  |  | 1,237 |
Total insurance benefits paid or provided | 27,775 |  |  | 7,345 |  |  | — |  |  | 35,120 |
Commissions | 6,960 |  |  | 3,490 |  |  | — |  |  | 10,450 |
Other general expenses | 6,036 |  |  | 3,489 |  |  | 1,813 |  |  | 11,338 |
Capitalization of deferred policy acquisition costs | (6,816) |  |  | (1,515) |  |  | — |  |  | (8,331) |
Amortization of deferred policy acquisition costs | 3,358 |  |  | 680 |  |  | — |  |  | 4,038 |
Amortization of cost of insurance acquired | 26 |  |  | 146 |  |  | — |  |  | 172 |
Total benefits and expenses | 37,339 |  |  | 13,635 |  |  | 1,813 |  |  | 52,787 |
Income (loss) before federal income tax | $ | 5,800 |  |  | 623 |  |  | (1,498) |  |  | 4,925 |
The Company categorizes premiums in two categories - first year premiums are premiums received within the first 12 months of a policy's issuance and any premiums received thereafter are renewal premiums. A summary of the premiums for the Life Insurance segment is detailed below.
(In thousands) |  |  | Three Months Ended March 31,
|  |  |  | 2025 |  | 2024 |  |
Life Insurance Segment: |  |  |  |  |  |  |  |  |
Premiums: |  |  |  |  |  |  |  |  |
Direct premiums: |  |  |  |  |  |  |  |  |
First year |  |  |  |  | $ | 7,604 |  |  | 4,584 |  |  |
Renewal |  |  |  |  | 24,091 |  |  | 23,650 |  |  |
Total direct premiums |  |  |  |  | 31,695 |  |  | 28,234 |  |  |
Reinsurance |  |  |  |  | (2,541) |  |  | (373) |  |  |
Total premiums |  |  |  |  | $ | 29,154 |  |  | 27,861 |  |  |
A summary of the Home Service Insurance segment life and A&H premium breakout is detailed below.
(In thousands) |  |  | Three Months Ended March 31,
|  |  |  | 2025 |  | 2024 |  |
Home Service Insurance Segment: |  |  |  |  |  |  |  |  |
Direct life and A&H premiums: |  |  |  |  |  |  |  |  |
First year |  |  |  |  | $ | 1,213 |  |  | 1,347 |  |  |
Renewal |  |  |  |  | 9,442 |  |  | 9,479 |  |  |
Total direct life and A&H premiums |  |  |  |  | 10,655 |  |  | 10,826 |  |  |
Reinsurance |  |  |  |  | (12) |  |  | (12) |  |  |
Total life and A&H premiums |  |  |  |  | $ | 10,643 |  |  | 10,814 |  |  |
The table below summarizes assets by segment.
As of March 31, (In thousands) | 2025 |  | 2024
Assets: |  |  |
Segments: |  |  |
Life Insurance | $ | 1,303,166 |  |  | 1,270,247 |
Home Service Insurance | 364,038 |  |  | 359,740 |
Total Segments | 1,667,204 |  |  | 1,629,987 |
Other Non-Insurance Enterprises | 35,000 |  |  | 35,676 |
Total assets | $ | 1,702,204 |  |  | 1,665,663 |
GEOGRAPHIC INFORMATION The following table sets forth the Company's annual total of earned premiums by country of policyholder residence for the periods indicated.
|  |  | Three Months Ended March 31,
(In thousands) |  |  |  |  | 2025 |  | 2024 |  |
Area: |  |  |  |  |  |  |  |  |
United States |  |  |  |  | $ | 16,500 |  |  | 13,151 |  |  |
Colombia |  |  |  |  | 6,554 |  |  | 5,983 |  |  |
Taiwan |  |  |  |  | 3,886 |  |  | 4,542 |  |  |
Venezuela |  |  |  |  | 3,350 |  |  | 3,315 |  |  |
Ecuador |  |  |  |  | 3,200 |  |  | 3,044 |  |  |
Argentina |  |  |  |  | 2,096 |  |  | 2,098 |  |  |
Other foreign countries |  |  |  |  | 9,702 |  |  | 8,815 |  |  |
Reinsurance and change in premium accruals |  |  |  |  | (5,491) |  |  | (2,275) |  |  |
Total premiums |  |  |  |  | $ | 39,797 |  |  | 38,673 |  |  |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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