STATUTORY REPORTING, CAPITAL REQUIREMENTS AND DIVIDENDS AND RETAINED EARNINGS RESTRICTIONS (Tables)

12 Months Ended

Dec. 31, 2019

Statutory Insurance Financial Information [Abstract]

Schedule of Statutory Capital and Surplus

Statutory capital and surplus in regards to policyholders at December 31, 2019, 2018 and 2017 and statutory net income (loss) for the years then ended are as follows:



	Statutory Capital and Surplus		Statutory Net Income (Loss)
2019
Property and casualty business	$	707,571	$	(22,393	)
2018
Property and casualty business	$	774,257	$	219,065
Life, accident and health business⁽¹⁾	—		3,548
2017
Property and casualty business	$	757,443	$	19,687
Life, accident and health business	144,533		5,485

(1)

The 2018 Life, accident and health business only includes results prior to the closing of the sale of United Life Insurance Company, which closed on March 30, 2018. Prior to the closing of the sale, United Fire & Casualty Company owned United Life Insurance Company, accordingly, the property and casualty statutory capital and surplus includes life, accident and health statutory capital and surplus, and therefore represents our total consolidated statutory capital and surplus.

- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

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