XML 60 R34.htm IDEA: XBRL DOCUMENT v3.25.4
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following tables set forth our assets that are measured at fair value on a recurring basis as of the dates indicated.

December 31, 2025
(In thousands)
Level 1Level 2Level 3Total
Fair Value
Financial assets:
Fixed maturity securities:
    
U.S. Treasury and U.S. Government-sponsored enterprises$5,654 1,354 — 7,008 
States and political subdivisions— 268,792 — 268,792 
Corporate42 866,828 — 866,870 
Commercial mortgage-backed— 8,894 — 8,894 
Residential mortgage-backed— 103,088 — 103,088 
Asset-backed— 33,209 — 33,209 
Total fixed maturity securities
5,696 1,282,165 — 1,287,861 
Equity securities:    
Bond mutual funds219 — — 219 
Common stock1,130 — — 1,130 
Non-redeemable preferred stock7 — — 7 
Total equity securities1,356 — — 1,356 
Other long-term investments (1)
— — — 85,157 
Total financial assets$7,052 1,282,165 — 1,374,374 
(1) In accordance with Subtopic 820-10, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet. 

December 31, 2024
(In thousands)
Level 1Level 2Level 3Total
Fair Value
Financial assets:    
Fixed maturity securities:
    
U.S. Treasury and U.S. Government-sponsored enterprises$5,909 3,304 — 9,213 
States and political subdivisions— 268,302 — 268,302 
Corporate42 794,947 — 794,989 
Commercial mortgage-backed— 311 — 311 
Residential mortgage-backed— 93,642 — 93,642 
Asset-backed— 54,504 — 54,504 
Total fixed maturity securities
5,951 1,215,010 — 1,220,961 
Equity securities:    
Bond mutual funds739 — — 739 
Common stock810 — — 810 
Non-redeemable preferred stock7 — — 7 
Non-redeemable preferred stock fund3,891 — — 3,891 
Total equity securities5,447 — — 5,447 
Other long-term investments (1)
— — — 93,337 
Total financial assets$11,398 1,215,010 — 1,319,745 
(1) In accordance with Subtopic 820-10, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet.
Schedule of Limited Partners' Capital Account by Class [Table Text Block] These investments are included in other long-term investments on the consolidated balance sheets.
December 31, 2025December 31, 2024

(In thousands, except years)
Fair Value Using NAV Per ShareUnfunded Commit-
ments
Range
(In years)
Fair Value Using NAV Per ShareUnfunded Commit-
ments
Range
(In years)
Description
Limited partnerships:
Middle marketInvestments in privately-originated, performing senior secured debt primarily in North America-based companies$30,956 — 2$35,369 1,660 3
Global equity fundInvestments in common stocks of U.S., international developed and emerging markets with a focus on long-term capital growth— — 011,568 — 0
Late-stage growthInvestments in private late-stage, established companies seeking capital to accelerate growth prior to an IPO or sale36,623 2,232 
2 to 4
27,825 8,134 
3 to 5
InfrastructureInvestments in environmental infrastructure and related technology, focusing on renewable power generation and distribution15,013 4,052 818,575 5,637 9
Total limited partnerships$82,592 6,284 $93,337 15,431 
Fair Value, by Balance Sheet Grouping [Table Text Block]
The carrying amount and fair value for the financial assets and liabilities on the consolidated financial statements not otherwise disclosed for the periods indicated were as follows:
 December 31, 2025December 31, 2024
(In thousands)Carrying
Value		Fair
Value		Carrying
Value		Fair
Value
Financial assets:    
Policy loans$67,455 67,455 71,216 71,216 
Residential mortgage loans24 24 33 34 
Cash and cash equivalents22,976 22,976 29,271 29,271 
Financial liabilities:  
Annuity - investment contracts68,975 64,066 68,888 63,629 
Other long-term investments. Financial instruments included in other long-term investments are classified in various levels of the fair value hierarchy. The following table summarizes the carrying amounts of these investments.

As of December 31,
(In thousands)
20252024
Other long-term investments:
Limited partnerships$82,592 93,337 
Structured note
2,565 — 
FHLB common stock222 212 
All other investments
60 55 
Total other long-term investments$85,439 93,604 
We are a member of the FHLB of Dallas and such membership requires members to own stock in the FHLB. Our FHLB stock is carried at amortized cost, which approximates fair value.