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Investments
 3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] INVESTMENTS
The Company invests primarily in fixed maturity securities as shown below.

Carrying Value
(In thousands, except for %)
March 31, 2025December 31, 2024
Amount%Amount%
Cash and invested assets:
Fixed maturity securities$1,247,428 86.9 %1,220,961 86.0 %
Equity securities5,493 0.4 5,447 0.4 
Policy loans70,961 4.9 71,216 5.0 
Other long-term investments93,318 6.5 93,604 6.6 
Cash and cash equivalents18,355 1.3 29,271 2.0 
Total cash and invested assets$1,435,555 100.0 %1,420,499 100.0 %
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
March 31, 2025
(In thousands)
Fixed maturity securities:    
U.S. Treasury securities$5,927 98 87 5,938 
U.S. Government-sponsored enterprises3,145 206 — 3,351 
States and political subdivisions298,351 1,402 29,317 270,436 
Corporate:
Financial270,073 2,289 30,209 242,153 
Consumer265,695 1,269 43,081 223,883 
Utilities127,120 359 21,418 106,061 
Energy80,513 92 9,168 71,437 
Communications70,722 205 8,830 62,097 
All other126,765 472 16,315 110,922 
Commercial mortgage-backed313 2 4 311 
Residential mortgage-backed106,538 5 10,137 96,406 
Asset-backed54,189 972 728 54,433 
Total fixed maturity securities$1,409,351 7,371 169,294 1,247,428 

Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
December 31, 2024
(In thousands)
Fixed maturity securities:    
U.S. Treasury securities$5,939 85 115 5,909 
U.S. Government-sponsored enterprises3,152 152 — 3,304 
States and political subdivisions300,757 1,087 33,542 268,302 
Corporate:
Financial272,925 1,593 33,285 241,233 
Consumer263,242 899 45,955 218,186 
Utilities126,361 220 22,770 103,811 
Energy79,247 40 9,959 69,328 
Communications70,896 111 9,910 61,097 
All other117,387 315 16,368 101,334 
Commercial mortgage-backed315 1 5 311 
Residential mortgage-backed106,661 7 13,026 93,642 
Asset-backed54,419 891 806 54,504 
Total fixed maturity securities$1,401,301 5,401 185,741 1,220,961 
 
The Company's investments in equity securities are shown below.

Fair Value
(In thousands)
March 31, 2025December 31, 2024
Equity securities: 
Bond mutual funds$748 739 
Common stocks
952 810 
Non-redeemable preferred stock7 7 
Non-redeemable preferred stock fund3,786 3,891 
Total equity securities$5,493 5,447 

VALUATION OF INVESTMENTS

Available-for-sale ("AFS") fixed maturity securities are reported in the consolidated financial statements at fair value. Equity securities are measured at fair value with the change in fair value recorded through net income (loss). The Company recognized net investment related gains of $47 thousand and $0.1 million for the three months ended March 31, 2025 and 2024, respectively, on equity securities held.

The Company considers several factors in its review and evaluation of individual investments, using the process described in Part IV, Item 15, Note 2. Investments in the notes to the consolidated financial statements of our Form 10-K to determine whether a credit valuation loss exists. For the three months ended March 31, 2025 and 2024, the Company recorded no credit valuation losses on fixed maturity securities.

For fixed maturity security investments that have unrealized losses as of March 31, 2025 and December 31, 2024, the gross unrealized losses and related fair values that have been in a continuous unrealized loss position by timeframe are as follows.

March 31, 2025Less than 12 monthsGreater than 12 monthsTotal
(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:        
U.S. Treasury securities$855 31 3 444 56 5 1,299 87 8 
States and political subdivisions29,060 845 44 151,175 28,472 178 180,235 29,317 222 
Corporate:
Financial25,801 480 36 150,873 29,729 189 176,674 30,209 225 
Consumer34,644 1,452 43 164,681 41,629 217 199,325 43,081 260 
Utilities13,576 428 36 80,755 20,990 144 94,331 21,418 180 
Energy14,597 321 31 51,654 8,847 62 66,251 9,168 93 
Communications4,628 93 7 49,759 8,737 61 54,387 8,830 68 
All Other25,067 840 36 72,295 15,475 90 97,362 16,315 126 
Commercial mortgage-backed— — — 88 4 1 88 4 1 
Residential mortgage-backed81 1 3 96,077 10,136 84 96,158 10,137 87 
Asset-backed9,736 192 15 14,602 536 16 24,338 728 31 
Total fixed maturity securities$158,045 4,683 254 832,403 164,611 1,047 990,448 169,294 1,301 
December 31, 2024Less than 12 monthsGreater than 12 monthsTotal
(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:        
U.S. Treasury securities$835 51 3 435 64 5 1,270 115 8 
States and political subdivisions42,583 1,484 63 147,534 32,058 177 190,117 33,542 240 
Corporate:
Financial29,258 756 53 154,448 32,529 192 183,706 33,285 245 
Consumer37,231 2,053 57 161,795 43,902 216 199,026 45,955 273 
Utilities16,750 687 47 79,488 22,083 142 96,238 22,770 189 
Energy11,654 438 29 52,537 9,521 65 64,191 9,959 94 
Communications9,973 250 11 48,462 9,660 60 58,435 9,910 71 
All Other25,208 1,237 38 68,756 15,131 87 93,964 16,368 125 
Commercial mortgage-backed100 — 1 89 5 1 189 5 2 
Residential mortgage-backed160 2 11 93,231 13,024 84 93,391 13,026 95 
Asset-backed10,330 243 14 14,741 563 16 25,071 806 30 
Total fixed maturity securities$184,082 7,201 327 821,516 178,540 1,045 1,005,598 185,741 1,372 

In each category of our fixed maturity securities described above, we do not intend to sell our investments, and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost bases. As of March 31, 2025 and December 31, 2024, 99.2% of the fair value of our fixed maturity securities portfolio, respectively, were rated investment grade. While the losses are currently unrealized, we continue to monitor all fixed maturity securities on an on-going basis as future information may become available which could result in an allowance being recorded.

These unrealized losses on fixed maturity securities are due to noncredit-related factors, including changes in credit spreads and rising interest rates since purchase, which have little bearing on the recoverability of our investments, hence they are not recognized as credit losses. The fair value is expected to recover as the securities approach maturity or if market yields for such investments decline.

The amortized cost and fair value of fixed maturity securities at March 31, 2025 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.

March 31, 2025Amortized
Cost		Fair
Value
(In thousands)
Fixed maturity securities:  
Due in one year or less$29,590 29,545 
Due after one year through five years134,188 134,263 
Due after five years through ten years261,428 257,371 
Due after ten years984,145 826,249 
Total fixed maturity securities$1,409,351 1,247,428 
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
March 31,
(In thousands)20252024
Fixed maturity securities, available-for-sale:
Proceeds$65 2,508 
Gross realized gains$1 1 
Gross realized losses$4 49 

Real estate held-for-sale consists of former Home Service Insurance segment district offices in Baton Rouge and Bogalusa, Louisiana. It was determined during the quarter that these properties met the held-for-sale criteria. As a result, these properties were reclassified from property, plant and equipment, net to real estate held-for-sale and is included in other long-term investments on the consolidated balance sheets. These investments are listed at carrying value and are no longer being depreciated.