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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ (4,611) $ (8,367)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Realized (gains) losses on sale of investments and other assets (142) (3,092)
Net deferred policy acquisition cost 3,440 2,968
Amortization of cost of customer relationships acquired 769 837
Depreciation 422 848
Amortization of premiums and discounts on investments 4,683 7,288
Stock-based compensation 632 1,587
Deferred federal income tax benefit (76) (94)
Change in:    
Accrued investment income 569 (453)
Reinsurance recoverable 725 208
Due premiums 704 2,768
Future policy benefit reserves 17,593 21,629
Other policyholders' liabilities 4,091 1,688
Federal income tax receivable 3,108 7,146
Commissions payable and other liabilities (2,690) (284)
Other, net (665) (3,271)
Net cash provided by operating activities 28,552 31,406
Cash flows from investing activities:    
Purchase of fixed maturities, available-for-sale (113,141) (111,729)
Sale of fixed maturities, available-for-sale 2,982 10,414
Maturities and calls of fixed maturities, available-for-sale 101,852 48,568
Purchases of equity securities (4,473) 0
Principal payments on mortgage loans 5 4
Increase in policy loans, net (2,166) (721)
Sale of other long-term investments and real estate 0 6,996
Purchases of other long-term investments (9,140) 0
Purchase of property and equipment (38) (388)
Maturity of short-term investments 1,300 7,940
Purchase of short-term investments 0 (2,455)
Net cash used in investing activities (22,819) (41,371)
Cash flows from financing activities:    
Annuity deposits 2,928 3,053
Annuity withdrawals (2,245) (3,635)
Other (246) (377)
Net cash provided by financing activities 437 (959)
Net increase (decrease) in cash and cash equivalents 6,170 (10,924)
Cash and cash equivalents at beginning of year 46,205 45,492
Cash and cash equivalents at end of period $ 52,375 $ 34,568