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Segment Information | 12 Months Ended
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Dec. 31, 2021
Segment Information [Abstract] |
Segment Information |
Note 15. | Segment Information
The Parent’s primary insurance subsidiaries operate with relative autonomy and each company is evaluated based on its individual performance. American Southern operates in the property and casualty insurance market, while Bankers Fidelity operates in the life and health insurance market. Each segment derives revenue from the collection of premiums, as well as from investment income. Substantially all revenue other than that in the corporate and other segment is from external sources.
|  | For the Year Ended December 31, 2021 |
|  | American Southern |  |  | Bankers Fidelity |  |  | Corporate & Other |  |  | Adjustments & Eliminations |  |  | Consolidated |
Insurance premiums, net |  | $ | 67,982 |  |  | $ | 116,234 |  |  | $ | — |  |  | $ | — |  |  | $ | 184,216 |
Insurance benefits and losses incurred |  |  | 44,433 |  |  |  | 87,261 |  |  |  | — |  |  |  | — |  |  |  | 131,694 |
Expenses deferred |  |  | (10,690 | ) |  |  | (12,461 | ) |  |  | — |  |  |  | — |  |  |  | (23,151 | )
Amortization and depreciation expense |  |  | 10,756 |  |  |  | 13,692 |  |  |  | 537 |  |  |  | — |  |  |  | 24,985 |
Other expenses |  |  | 20,077 |  |  |  | 33,484 |  |  |  | 16,255 |  |  |  | (9,092 | ) |  |  | 60,724 |
Total expenses |  |  | 64,576 |  |  |  | 121,976 |  |  |  | 16,792 |  |  |  | (9,092 | ) |  |  | 194,252 |
Underwriting income (loss) |  |  | 3,406 |  |  |  | (5,742 | ) |  |  | — |  |  |  | — |  |  |  | (2,336 | )
Net investment income (loss) |  |  | 3,570 |  |  |  | 5,204 |  |  |  | 1,466 |  |  |  | (1,712 | ) |  |  | 8,528 |
Other income (loss) |  |  | 4 |  |  |  | 9 |  |  |  | 7,380 |  |  |  | (7,380 | ) |  |  | 13 |
Operating income (loss) |  |  | 6,980 |  |  |  | (529 | ) |  |  | (7,946 | ) |  |  | — |  |  |  | (1,495 | )
Net realized gains |  |  | 2,198 |  |  |  | 2,705 |  |  |  | — |  |  |  | — |  |  |  | 4,903 |
Unrealized gains on equity securities |  |  | 114 |  |  |  | 1,550 |  |  |  | 230 |  |  |  | — |  |  |  | 1,894 |
Income (loss) before income taxes |  | $ | 9,292 |  |  | $ | 3,726 |  |  | $ | (7,716 | ) |  | $ | — |  |  | $ | 5,302 |
Total revenues |  | $ | 73,868 |  |  | $ | 125,702 |  |  | $ | 9,076 |  |  | $ | (9,092 | ) |  | $ | 199,554 |
Intangibles |  | $ | 1,350 |  |  | $ | 1,194 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,544 |
Total assets |  | $ | 161,788 |  |  | $ | 227,395 |  |  | $ | 177,638 |  |  | $ | (164,535 | ) |  | $ | 402,286 |
|  | For the Year Ended December 31, 2020 |
|  | American Southern |  |  | Bankers Fidelity |  |  | Corporate & Other |  |  | Adjustments & Eliminations |  |  | Consolidated |
Insurance premiums, net |  | $ | 62,372 |  |  | $ | 121,167 |  |  | $ | — |  |  | $ | — |  |  | $ | 183,539 |
Insurance benefits and losses incurred |  |  | 39,339 |  |  |  | 80,537 |  |  |  | — |  |  |  | — |  |  |  | 119,876 |
Expenses deferred |  |  | (9,910 | ) |  |  | (10,233 | ) |  |  | — |  |  |  | — |  |  |  | (20,143 | )
Amortization and depreciation expense |  |  | 9,772 |  |  |  | 10,007 |  |  |  | 594 |  |  |  | — |  |  |  | 20,373 |
Other expenses |  |  | 19,542 |  |  |  | 34,403 |  |  |  | 14,526 |  |  |  | (8,732 | ) |  |  | 59,739 |
Total expenses |  |  | 58,743 |  |  |  | 114,714 |  |  |  | 15,120 |  |  |  | (8,732 | ) |  |  | 179,845 |
Underwriting income |  |  | 3,629 |  |  |  | 6,453 |  |  |  | — |  |  |  | — |  |  |  | 10,082 |
Net investment income (loss) |  |  | 3,586 |  |  |  | 4,971 |  |  |  | 1,174 |  |  |  | (1,987 | ) |  |  | 7,744 |
Other income (loss) |  |  | 37 |  |  |  | 11 |  |  |  | 6,773 |  |  |  | (6,745 | ) |  |  | 76 |
Operating income (loss) |  |  | 7,252 |  |  |  | 11,435 |  |  |  | (7,173 | ) |  |  | — |  |  |  | 11,514 |
Net realized gains |  |  | 3,389 |  |  |  | 4,031 |  |  |  | — |  |  |  | — |  |  |  | 7,420 |
Unrealized losses on equity securities |  |  | (205 | ) |  |  | (3,036 | ) |  |  | (190 | ) |  |  | — |  |  |  | (3,431 | )
Income (loss) before income taxes |  | $ | 10,436 |  |  | $ | 12,430 |  |  | $ | (7,363 | ) |  | $ | — |  |  | $ | 15,503 |
Total revenues |  | $ | 69,179 |  |  | $ | 127,144 |  |  | $ | 7,757 |  |  | $ | (8,732 | ) |  | $ | 195,348 |
Intangibles |  | $ | 1,350 |  |  | $ | 1,194 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,544 |
Total assets |  | $ | 158,808 |  |  | $ | 236,197 |  |  | $ | 183,178 |  |  | $ | (172,996 | ) |  | $ | 405,187 |

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