Segment Information

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

SEGMENT INFORMATION The Company has two reportable segments:  Life Insurance and Home Service Insurance.  Our Life Insurance segment issues endowment contracts, which are principally accumulation contracts that incorporate an element of life insurance protection and ordinary whole life insurance, to non-U.S. residents through CICA International and, beginning January 1, 2023, CICA PR.  These contracts are designed to provide a fixed amount of insurance coverage over the life of the insured and may utilize rider benefits to provide additional coverage and annuity

benefits to enhance accumulations. Domestically, we currently offer whole life, credit life, credit disability, and critical illness products. The critical illness products are sold in Texas and Florida through CICA and CNLIC. Both CICA and CNLIC also service whole life and accident and health policies primarily in the Southern U.S., Midwest and Mountain West.

Our Home Service Insurance segment operates through our subsidiaries SPLIC, MGLIC and SPFIC, and focuses on the life insurance needs of the middle- and lower-income markets, primarily in Louisiana, Mississippi and Arkansas.  Our policies are sold and serviced through funeral homes and independent agents who sell policies, collect premiums and service policyholders.  Our Home Service Insurance segment also sells property insurance policies in Louisiana.

The Life Insurance and Home Service Insurance portions of the Company constitute separate businesses. In addition to the Life Insurance and Home Service Insurance business, the Company also operates other non-insurance portions of the Company ("Other Non-Insurance Enterprises"), which primarily include the Company’s IT and Corporate-support functions.

The accounting policies of the reportable segments and Other Non-Insurance Enterprises are presented in accordance with U.S. GAAP and are the same as those described in the summary of significant accounting policies in our Form 10-K.  The Company evaluates profit and loss performance based on U.S. GAAP net income (loss) before federal income taxes for its two reportable segments. The Company's Other Non-Insurance Enterprises is the only reportable difference between segments and consolidated operations.

	Life Insurance		Home Service Insurance	Other Non-Insurance Enterprises	Consolidated
Three Months Ended March 31, 2023
(In thousands)
Revenues:
Premiums	$	26,207	12,042	—	38,249
Net investment income	13,311		3,470	293	17,074
Investment related gains (losses), net	(437)		99	50	(288)
Other income (loss)	879		—	—	879
Total revenues	39,960		15,611	343	55,914
Benefits and expenses:
Insurance benefits paid or provided:
Claims and surrenders	24,439		5,860	—	30,299
Increase (decrease) in future policy benefit reserves	(1,820)		842	—	(978)
Policyholder liability remeasurement (gain) loss	816		64	—	880
Policyholders' dividends	1,101		7	—	1,108
Total insurance benefits paid or provided	24,536		6,773	—	31,309
Commissions	4,759		4,254	—	9,013
Other general expenses	5,459		4,468	1,333	11,260
Capitalization of deferred policy acquisition costs	(4,360)		(1,998)	—	(6,358)
Amortization of deferred policy acquisition costs	3,162		652	—	3,814
Amortization of cost of insurance acquired	32		129	—	161
Total benefits and expenses	33,588		14,278	1,333	49,199
Income (loss) before federal income tax	$	6,372	1,333	(990)	6,715

	Life Insurance		Home Service Insurance	Other Non-Insurance Enterprises	Consolidated
Three Months Ended March 31, 2022
(In thousands)
Revenues:
Premiums	$	26,931	12,433	—	39,364
Net investment income	11,971		3,244	272	15,487
Investment related gains (losses), net	(293)		(242)	(47)	(582)
Other income (loss)	1,088		—	—	1,088
Total revenues	39,697		15,435	225	55,357
Benefits and expenses:
Insurance benefits paid or provided:
Claims and surrenders	21,458		6,976	—	28,434
Increase in future policy benefit reserves	1,376		(1,262)	—	114
Policyholder liability remeasurement (gain) loss	414		254	—	668
Policyholders' dividends	1,350		3	—	1,353
Total insurance benefits paid or provided	24,598		5,971	—	30,569
Commissions	3,806		3,867	—	7,673
Other general expenses	5,691		4,350	989	11,030
Capitalization of deferred policy acquisition costs	(3,306)		(1,475)	—	(4,781)
Amortization of deferred policy acquisition costs	3,020		539	—	3,559
Amortization of cost of insurance acquired	24		105	—	129
Total benefits and expenses	33,833		13,357	989	48,179
Income (loss) before federal income tax	$	5,864	2,078	(764)	7,178