Deferred Policy Acquisition Costs and Cost of Insurance Acquired (Tables)

3 Months Ended

Mar. 31, 2023

The following tables roll forward the DAC asset for the three months ended March 31, 2023 and 2022 by reporting cohort. Our reporting cohorts are Permanent, which summarizes insurance policies with premiums payable over the lifetime of the policy, and Permanent Limited Pay, which summarizes insurance policies with premiums payable for a limited time after which the policy is fully paid up. Both reporting cohorts include whole life and endowment policies.


	Three Months Ended March 31, 2023
(In thousands)	Permanent		Permanent Limited Pay	Other Business	Total
Life Insurance:
Balance, beginning of year	$	100,926	11,542	1,016	113,484
Capitalizations	3,453		822	85	4,360
Amortization expense	(2,918)		(186)	(58)	(3,162)

Balance, end of period	$	101,461	12,178	1,043	114,682

Home Service Insurance:
Balance, beginning of year	$	38,793	9,729	921	49,443
Capitalizations	1,615		331	52	1,998
Amortization expense	(492)		(95)	(65)	(652)

Balance, end of period	$	39,916	9,965	908	50,789

Consolidated:
Balance, beginning of year	$	139,719	21,271	1,937	162,927
Capitalizations	5,068		1,153	137	6,358
Amortization expense	(3,410)		(281)	(123)	(3,814)

Balance, end of period	$	141,377	22,143	1,951	165,471


	Three Months Ended March 31, 2022
(In thousands)	Permanent		Permanent Limited Pay	Other Business	Total
Life Insurance:
Balance, beginning of year	$	97,675	9,001	1,026	107,702
Capitalizations	2,439		838	29	3,306
Amortization expense	(2,793)		(150)	(77)	(3,020)

Balance, end of period	$	97,321	9,689	978	107,988

Home Service Insurance:
Balance, beginning of year	$	35,137	8,723	856	44,716
Capitalizations	1,149		323	3	1,475
Amortization expense	(444)		(89)	(6)	(539)

Balance, end of period	$	35,842	8,957	853	45,652

Consolidated:
Balance, beginning of year	$	132,812	17,724	1,882	152,418
Capitalizations	3,588		1,161	32	4,781
Amortization expense	(3,237)		(239)	(83)	(3,559)

Balance, end of period	$	133,163	18,646	1,831	153,640

Present Value of Future Insurance Profits

The following tables provide rollforwards of the COIA balances for the three months ended March 31, 2023 and 2022 by reporting cohort. Our reporting cohorts are Permanent, which summarizes insurance policies with premiums payable over the lifetime of the policy, and Permanent Limited Pay, which summarizes insurance policies with premiums payable for a limited time after which the policy is fully paid up. Both reporting cohorts include whole life and endowment policies.


	Three Months Ended March 31, 2023
(In thousands)	Permanent		Permanent Limited Pay	Other Business	Total
Life Insurance:
Balance, beginning of year	$	267	750	444	1,461
Amortization expense	(4)		(15)	(13)	(32)

Balance, end of period	$	263	735	431	1,429

Home Service Insurance:
Balance, beginning of year	$	7,583	176	1,427	9,186
Amortization expense	(99)		(2)	(28)	(129)

Balance, end of period	$	7,484	174	1,399	9,057

Consolidated:
Balance, beginning of year	$	7,850	926	1,871	10,647
Amortization expense	(103)		(17)	(41)	(161)

Balance, end of period	$	7,747	909	1,830	10,486


	Three Months Ended March 31, 2022
(In thousands)	Permanent		Permanent Limited Pay	Other Business	Total
Life Insurance:
Balance, beginning of year	$	287	812	485	1,584
Amortization expense	(5)		(16)	(3)	(24)

Balance, end of period	$	282	796	482	1,560

Home Service Insurance:
Balance, beginning of year	$	7,989	184	1,511	9,684
Amortization expense	(103)		(2)	—	(105)

Balance, end of period	$	7,886	182	1,511	9,579

Consolidated:
Balance, beginning of year	$	8,276	996	1,996	11,268
Amortization expense	(108)		(18)	(3)	(129)

Balance, end of period	$	8,168	978	1,993	11,139