Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Other Comprehensive Income (Loss)

The changes in the components of other comprehensive income (loss) are reported net of the effects of income taxes of 21% for domestic entities and 4% for Puerto Rican entities as indicated below.

(In thousands)	Amount		Tax Effect	Total
Year ended December 31, 2023:
Unrealized gains (losses):
Unrealized holding gains (losses) arising during the period	$	50,894	971	51,865
Reclassification adjustment for (gains) losses included in net income (loss)	756		(159)	597
Unrealized holding gains (losses), net	51,650		812	52,462
Change in current discount rate for liability for future policy benefits	(34,790)		1,217	(33,573)
Other comprehensive income (loss)	$	16,860	2,029	18,889
Year ended December 31, 2022:
Unrealized gains (losses):
Unrealized holding gains (losses) arising during the period	$	(328,673)	17,555	(311,118)
Reclassification adjustment for (gains) losses included in net income (loss)	104		(22)	82
Unrealized holding gains (losses), net	(328,569)		17,533	(311,036)
Change in current discount rate for liability for future policy benefits	337,776		(24,795)	312,981
Other comprehensive income (loss)	$	9,207	(7,262)	1,945
Year ended December 31, 2021:
Unrealized gains (losses):
Unrealized holding gains (losses) arising during the period	$	(41,123)	3,084	(38,039)
Reclassification adjustment for (gains) losses included in net income (loss)	(243)		51	(192)
Unrealized holding gains (losses), net	(41,366)		3,135	(38,231)
Change in current discount rate for liability for future policy benefits	92,396		(4,584)	87,812
Other comprehensive income (loss)	$	51,030	(1,449)	49,581