XML 31 R21.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Investments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2018
Investments [Abstract] |
Investments Aggregated by Type and Industry | Fixed maturities were comprised of the following:
|  | June 30, 2018 |
|  | Carrying Value |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Cost or Amortized Cost |
Fixed maturities: |  |  |  |  |  |  |  |  |  |  |  |
Bonds: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. Government agencies and authorities |  | $ | 27,776 |  |  | $ | 12 |  |  | $ | 1,089 |  |  | $ | 28,853 |
Obligations of states and political subdivisions |  |  | 9,363 |  |  |  | 346 |  |  |  | 88 |  |  |  | 9,105 |
Corporate securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Utilities and telecom |  |  | 18,963 |  |  |  | 1,030 |  |  |  | 859 |  |  |  | 18,792 |
Financial services |  |  | 51,649 |  |  |  | 1,070 |  |  |  | 2,145 |  |  |  | 52,724 |
Other business – diversified |  |  | 47,222 |  |  |  | 312 |  |  |  | 2,802 |  |  |  | 49,712 |
Other consumer – diversified |  |  | 53,691 |  |  |  | 91 |  |  |  | 4,017 |  |  |  | 57,617 |
Total corporate securities |  |  | 171,525 |  |  |  | 2,503 |  |  |  | 9,823 |  |  |  | 178,845 |
Redeemable preferred stocks: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other consumer – diversified |  |  | 192 |  |  |  | - |  |  |  | - |  |  |  | 192 |
Total redeemable preferred stocks |  |  | 192 |  |  |  | - |  |  |  | - |  |  |  | 192 |
Total fixed maturities |  | $ | 208,856 |  |  | $ | 2,861 |  |  | $ | 11,000 |  |  | $ | 216,995 |
|  | December 31, 2017 |
|  | Carrying Value |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Cost or Amortized Cost |
Fixed maturities: |  |  |  |  |  |  |  |  |  |  |  |
Bonds: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. Government agencies and authorities |  | $ | 31,155 |  |  | $ | 149 |  |  | $ | 511 |  |  | $ | 31,517 |
Obligations of states and political subdivisions |  |  | 10,809 |  |  |  | 630 |  |  |  | 1 |  |  |  | 10,180 |
Corporate securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Utilities and telecom |  |  | 21,882 |  |  |  | 1,709 |  |  |  | 130 |  |  |  | 20,303 |
Financial services |  |  | 53,686 |  |  |  | 2,049 |  |  |  | 453 |  |  |  | 52,090 |
Other business – diversified |  |  | 44,184 |  |  |  | 1,024 |  |  |  | 1,349 |  |  |  | 44,509 |
Other consumer – diversified |  |  | 53,200 |  |  |  | 924 |  |  |  | 1,477 |  |  |  | 53,753 |
Total corporate securities |  |  | 172,952 |  |  |  | 5,706 |  |  |  | 3,409 |  |  |  | 170,655 |
Redeemable preferred stocks: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other consumer – diversified |  |  | 192 |  |  |  | - |  |  |  | - |  |  |  | 192 |
Total redeemable preferred stocks |  |  | 192 |  |  |  | - |  |  |  | - |  |  |  | 192 |
Total fixed maturities |  | $ | 215,108 |  |  | $ | 6,485 |  |  | $ | 3,921 |  |  | $ | 212,544 |
Bonds having an amortized cost of $10,647 and $11,178 and included in the tables above were on deposit with insurance regulatory authorities as of June 30, 2018 and December 31, 2017, respectively, in accordance with statutory requirements. Equity securities were comprised of the following:
|  | June 30, 2018 |
|  | Carrying Value |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Cost or Amortized Cost |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |
Common and non-redeemable preferred stocks: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Utilities and telecom |  | $ | 1,509 |  |  | $ | 545 |  |  | $ | - |  |  | $ | 964 |
Financial services |  |  | 5,553 |  |  |  | 769 |  |  |  | - |  |  |  | 4,784 |
Other business – diversified |  |  | 282 |  |  |  | 235 |  |  |  | - |  |  |  | 47 |
Other consumer – diversified |  |  | 15,681 |  |  |  | 10,558 |  |  |  | - |  |  |  | 5,123 |
Total equity securities |  | $ | 23,025 |  |  | $ | 12,107 |  |  | $ | - |  |  | $ | 10,918 |
|  | December 31, 2017 |
|  | Carrying Value |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Cost or Amortized Cost |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |
Common and non-redeemable preferred stocks: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Utilities and telecom |  | $ | 1,588 |  |  | $ | 624 |  |  | $ | - |  |  | $ | 964 |
Financial services |  |  | 5,634 |  |  |  | 851 |  |  |  | - |  |  |  | 4,783 |
Other business – diversified |  |  | 297 |  |  |  | 250 |  |  |  | - |  |  |  | 47 |
Other consumer – diversified |  |  | 15,836 |  |  |  | 10,712 |  |  |  | - |  |  |  | 5,124 |
Total equity securities |  | $ | 23,355 |  |  | $ | 12,437 |  |  | $ | - |  |  | $ | 10,918 |
Amortized Cost and Carrying Value of Fixed Maturities by Contractual Maturity | The carrying value and amortized cost of the Company’s investments in fixed maturities at June 30, 2018 and December 31, 2017 by contractual maturity were as follows. Actual maturities may differ from contractual maturities because issuers may call or prepay obligations with or without call or prepayment penalties.
|  | June 30, 2018 |  |  | December 31, 2017 |
|  | Carrying Value |  |  | Amortized Cost |  |  | Carrying Value |  |  | Amortized Cost |
Due in one year or less |  | $ | 3,900 |  |  | $ | 3,900 |  |  | $ | 1,653 |  |  | $ | 1,655 |
Due after one year through five years |  |  | 18,131 |  |  |  | 18,413 |  |  |  | 13,738 |  |  |  | 14,056 |
Due after five years through ten years |  |  | 124,530 |  |  |  | 129,930 |  |  |  | 112,847 |  |  |  | 112,116 |
Due after ten years |  |  | 45,459 |  |  |  | 47,123 |  |  |  | 67,328 |  |  |  | 64,928 |
Varying maturities |  |  | 16,836 |  |  |  | 17,629 |  |  |  | 19,542 |  |  |  | 19,789 |
Totals |  | $ | 208,856 |  |  | $ | 216,995 |  |  | $ | 215,108 |  |  | $ | 212,544 |
Investment Securities with Continuous Unrealized Loss Position | The following tables present the Company’s unrealized loss aging for securities by type and length of time the security was in a continuous unrealized loss position as of June 30, 2018 and December 31, 2017.
|  | June 30, 2018 |
|  | Less than 12 months |  |  | 12 months or longer |  |  | Total |
|  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
U.S. Treasury securities and obligations of U.S. Government agencies and authorities |  | $ | 11,636 |  |  | $ | 359 |  |  | $ | 14,630 |  |  | $ | 730 |  |  | $ | 26,266 |  |  | $ | 1,089 |
Obligations of states and political subdivisions |  |  | 3,982 |  |  |  | 88 |  |  |  | - |  |  |  | - |  |  |  | 3,982 |  |  |  | 88 |
Corporate securities |  |  | 109,673 |  |  |  | 6,062 |  |  |  | 29,694 |  |  |  | 3,761 |  |  |  | 139,367 |  |  |  | 9,823 |
Total temporarily impaired securities |  | $ | 125,291 |  |  | $ | 6,509 |  |  | $ | 44,324 |  |  | $ | 4,491 |  |  | $ | 169,615 |  |  | $ | 11,000 |
|  | December 31, 2017 |
|  | Less than 12 months |  |  | 12 months or longer |  |  | Total |
|  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
U.S. Treasury securities and obligations of U.S. Government agencies and authorities |  | $ | 12,175 |  |  | $ | 162 |  |  | $ | 12,737 |  |  | $ | 349 |  |  | $ | 24,912 |  |  | $ | 511 |
Obligations of states and political subdivisions |  |  | 999 |  |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | 999 |  |  |  | 1 |
Corporate securities |  |  | 40,108 |  |  |  | 653 |  |  |  | 32,667 |  |  |  | 2,756 |  |  |  | 72,775 |  |  |  | 3,409 |
Total temporarily impaired securities |  | $ | 53,282 |  |  | $ | 816 |  |  | $ | 45,404 |  |  | $ | 3,105 |  |  | $ | 98,686 |  |  | $ | 3,921 |
Financial Instruments Carried at Fair Value Measured on a Recurring Basis | As of June 30, 2018, financial instruments carried at fair value were measured on a recurring basis as summarized below:
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Fixed maturities |  | $ | - |  |  | $ | 207,510 |  |  | $ | 1,346 | (1) |  | $ | 208,856 |
Equity securities |  |  | 17,704 |  |  |  | 5,321 | (1) |  |  | - |  |  |  | 23,025 |
Cash equivalents |  |  | 6,648 |  |  |  | - |  |  |  | - |  |  |  | 6,648 |
Total |  | $ | 24,352 |  |  | $ | 212,831 |  |  | $ | 1,346 |  |  | $ | 238,529 |
| (1) | All underlying securities are financial service industry related.
As of December 31, 2017, financial instruments carried at fair value were measured on a recurring basis as summarized below:
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Fixed maturities |  | $ | - |  |  | $ | 213,739 |  |  | $ | 1,369 | (1) |  | $ | 215,108 |
Equity securities |  |  | 17,973 |  |  |  | 5,382 | (1) |  |  | - |  |  |  | 23,355 |
Cash equivalents |  |  | 13,855 |  |  |  | - |  |  |  | - |  |  |  | 13,855 |
Total |  | $ | 31,828 |  |  | $ | 219,121 |  |  | $ | 1,369 |  |  | $ | 252,318 |
| (1) | All underlying securities are financial service industry related.
Roll-forward of Financial Instruments Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) | The following tables provide a roll-forward of the Company’s financial instruments measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three month and six month periods ended June 30, 2018 and 2017.
|  | Fixed Maturities |
Balance, December 31, 2017 |  | $ | 1,369 |
Total unrealized losses included in other comprehensive loss |  |  | (30 | )
Balance, March 31, 2018 |  |  | 1,339 |
Total unrealized gains included in other comprehensive loss |  |  | 7 |
Balance, June 30, 2018 |  | $ | 1,346 |
|  | Fixed Maturities |
Balance, December 31, 2016 |  | $ | 1,264 |
Total unrealized gains included in other comprehensive income |  |  | 38 |
Balance, March 31, 2017 |  |  | 1,302 |
Total unrealized gains included in other comprehensive income |  |  | 30 |
Balance, June 30, 2017 |  | $ | 1,332 |
Summary of Realized Investment Gains (Losses) | The following table is a summary of realized investment gains (losses) for the three month and six month periods ended June 30, 2018 and 2017.
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Gross gains |  | $ | 247 |  |  | $ | 1,409 |  |  | $ | 617 |  |  | $ | 2,340 |
Gross losses |  |  | (304 | ) |  |  | (13 | ) |  |  | (304 | ) |  |  | (61 | )
Realized investment gains (losses), net |  | $ | (57 | ) |  | $ | 1,396 |  |  | $ | 313 |  |  | $ | 2,279 |
Unrealized Gains (Losses) Related to Equity Securities | The following table presents the portion of unrealized gains (losses) related to equity securities still held for the three month and six month periods ended June 30, 2018 and 2017.
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Net gains (losses) recognized during the period on equity securities |  | $ | 4,089 |  |  | $ | - |  |  | $ | (330 | ) |  | $ | - |
Less: Net gains (losses) recognized during the period on equity securities sold during the period |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date |  | $ | 4,089 |  |  | $ | - |  |  | $ | (330 | ) |  | $ | - |

X
- Definition Tabular disclosure of unrealized gains and losses on equity investments. + References No definition available. + Details
Name: | aame_UnrealizedGainLossOnEquityInvestmentsTableTextBlock
Namespace Prefix: | aame_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of fair value of investments in debt and equity securities in an unrealized loss position categorized neither as held-to-maturity nor trading securities. + References No definition available. + Details
Name: | us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. + References No definition available. + Details
Name: | us-gaap_MarketableSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of realized gains and losses on investments reported in the statement of income. + References No definition available. + Details
Name: | us-gaap_RealizedGainLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration